Louis over the web, gave businesses the right

Published by admin on

Louis
Padilla

Amazon

 

 

 

History of Amazon

We Will Write a Custom Essay Specifically
For You For Only $13.90/page!


order now

In
the early 1990’s, the world wide web skyrocketed across the united states with
its popularity. The creation of the internet gave families, households, and
businesses the opportunity to indulge in some form of web browsing or utilizing
an internet provider. Eventually the web turned into a huge and significant tool
for the majority of people. Then businesses began to follow along with trend of
using the internet. It allowed people to buy and sell products on a large
scale. With the advantage of selling products over the web, gave businesses the
right energy on making it possible for Amazon to set record breaking goals compared
to those of the past. Giving the opportunity to sell merchandise over the
internet presented individually owned businesses and people with many options
and things to select from. Jeff Bezos, the CEO and founder of Amazon.com viewed
the internet business opportunity. He took a chance to make the lives of many
easy, becoming one of the top sellers in e-commerce.

Jeff
Bezos moved on from his career on Wall Street as the Vice President of the firm
D.E. Shaw in the year 1994. He had a vision and he decided to move to Seattle,
Washington. He worked on a new innovative idea for a business that would make
him the billionaire he is today. His decision to switch careers and start up an
e-commerce company Amazon.com. Eventually it became the best move of his life
career wise. Jeff Bezos used potentially gained knowledge of growth of the
internet would shoot up 2300 percent annually. During this part of the process,
he had still been unsure of what products he wanted to sell.  So he drafted up a list of 20 or so products
that would gain consumer attention and be worth selling over the internet. He
then eventually settled on a list of five products: compact discs, computer
hardware, books, videos and computer software. Bezos’s then decided on selling
books to consumers over the internet. Around this time there was high demand in
literature books. There was a huge collection of books, that could be sold in
printed at lesser prices. Bezos’s decision to have the headquarters in Seattle.
Primarily due to the large book distributor center and high-tech workforce that
helped get his plans into motion. Following raising funds and tirelessly
working with developers on building his website Bezos unveiled his website in
1995, becoming the first number one website exclusively for books.

            During its time amazon only
competition for selling books consisted of Barnes & Noble, Waldenbooks and
Crown Books. Amazon promoted themselves as “Earth’s Biggest Bookstore.” In this
age the idea of selling books online was considered foreign. It took the
company sometime to take off. But when the time came Amazon store carried more
than 2.5 million different tittles in 1997. That year Amazon totaled in $148
million and had more than 1.5 million customers in over 150 countries.

            In 1998,
Amazon company continued to grow and expand. Amazon discovered more ways to
help profit money and gain customers. The company had an associate program. It had
roughly 30,000 member involved. The associates earned up to 15 percent for
recommending and selling books from their websites to customers. Later on that
year the total number of associates doubled from 30,000 to 60,000.

Amazon also expanded its business
through a series of acquisitions in early 1998. Two of the companies were
acquired to help get Amazon further into the market in Europe. Bookpages is one
of the major online booksellers in the United Kingdom, gave Amazon a boost with
ability to profit from the United Kingdom market. Telebook, another large
online bookseller in Germany, added its German titles to the mixture. Both
companies not only helped Amazon access to new customers in Europe. It helped
give the existing Amazon customers access to the other types of literature
around the globe. The Internet Movie Database (IMD), the third acquisition, was
used to help plan Amazon’s move into online video. The over the top resources
and knowledge that IMD has gained is served as an important asset in the structure
of a customer-friendly and explanatory web site for video sales.

 Amazon kept
coming up with innovative ideas that seemed to be working. Another big change occurred
when plans to make an enter the market selling music over the internet. Jeff Bezos
Amazon CEO again wanted the website very easily assessable for his customers. He
wanted it simple for his customers to navigate through. So he asked for help
from the consumers on this project to make the site as useful as possible. Also
that year, the music store by amazon decided
to open around in June 1998. During this period of time Amazon offered over
125,000 music titles available to customer. However, around the same time their
new site, which commenced its operations at the same time that Amazon.com
unveiled a new design on to their book site. The music website compared to the
book Offered many of the same helpful services available at the company’s book
site. The database consisted of the artist, song title, or label, and customers
had a chance to listen to more than 225,000 sound clips before making their
selection over the website.

Amazon company has kept its focus on growing the company.
In 1999, it offered something new to the individuals at the time. An online
auction service entitled Amazon Auctions. It also began recommending a variety
of toys and electronics. Then distributed its product offerings into a series
of different stores on its site to make it convenient for customers to shop for
specific items. During the holiday season that year, the firm placed an ordered
of 181 acres of gift wrapping paper and 2,494 miles of red ribbon. The CEO of
Amazon Jeff Bezos expected holiday shoppers to flock to his new site as many
had done so in the past two years. Sure enough, the sales only continue to grow
to $1.6 billion. Demonstrating that the originator’s determinations to create
an online powerhouse came into a powerhouse. Also that year Bezos reached a new
upper echelon status of the corporate world when Time magazine honored
and presented him with its prestigious “Person of the Year” award.

Amazon worked on a new strategy. In 2001, their sales
increased around $3.12 billion, an increase of 13 percent compared to the
previous year. During the fourth quarter of the year, Amazon.com obtained a
milestone that many others considered as unlikely; their company secured a net
profit of $5 million. In 2002, the company started up an apparel store. It included
clothing from different retailers The Gap and Lands’ End. Overall, the company
reported a net loss of $149 million for the year, an improvement from the $567
million loss reported in 2001. In the fourth quarter of 2002 however, the firm safeguarded
a quarterly net profit of $3 million and the second net profit in its history.
While securing quarterly net profits was a significant turning point for the
young company. In July 2002 Business
Week article warned,
“after seven years and more than $1 billion in losses, Amazon is still a
work in process.” Indeed, the company’s portrayed themselves as “Earth’s
Biggest Selection.” The company has yet to prove it could provide profits
on a long-term basis. Nevertheless, Bezos and his Amazon team kept their focus
and remained confident that the firm was barking down the correct alley. With
$3.9 billion in annual sales, Amazon.com had without a doubt come a long way
from its start as an online book seller.

In 2005 Amazon Prime was created. It was a membership that
offered people to free two-day shipping instead of 4-6-day shipping within the
United States. On every purchase on Amazon Marketplace. It was offered for $79
annually. Amazon launched this service in variety of countries including
Germany, France, Japan, Italy, Canada and the United Kingdom. Amazon wanted
customers to get their orders in timely order. Their vision comprised of fast
delivery should be an everyday experience rather than occasion Indulgence. At
first it gave up millions of dollars their first year on shipping cost. It only
continues due to the positivity receiving from everyone. It continues to gain
interest from member and with 50 percent increase in member in 2014. Amazon had
a total of 10 million subscribers and is considered on of the sought out
subscription services.

In 2007, Amazon dropped the Kindle which is an e-reader. It
was designed to enable the users to browse, buy, download and read e-books.
It also offered newspaper, magazines and other digital media available on the
marketplace. When it went on the market it was priced at $400 and
instantaneously sold out within hours. It even remained out of stocks for
months. The device had 6-inch screen and 250MB of memory and offered had option
of expanding the memory with an SD card. It is also headphone assessable and
has a speaker. Amazon offered free wireless connection on this device. The
battery had to be charged about every other day

 

In 2011, Amazon
saves their video service by rebranding it so people are able to get the videos
instantly. It did by acquiring a popular DVD rental service in Europe. It was
labeled as the Netflix for Europe. Amazon took that and initially turning into
something greater. When the video service went through its modification. It was
labeled as Amazon Instant Video on Demand. Amazon added over 5,000 movies and
TV shows for their subscriber to watch. 
That same year Amazon offered a mobile app. It was offered in over 200
countries.

Mission Statement

·      “We strive to offer our customers the lowest possible prices, the best
available selection, and the utmost convenience.”

Vision
Statement

·     
“Earth’s most customer-centric company ”

When Amazon.com launched in
1995, it had mission they need to complete, “to be Earth’s most
customer-centric company, where customers can find and discover anything they
might want to buy online, and endeavors to offer its customers the lowest
possible prices.” This goal continues today, but Amazon’s customers are
worldwide now, and have grown to include millions of Consumers, Sellers,
Content Creators, and Developers & Enterprises. Each of these groups has
different needs, and we always work to meet those needs, innovating new
solutions to make things easier, faster, better, and more cost-effective.

Value
Statement

·     
Customer Obsession: Leaders
start with the customer and work backwards. They work vigorously to earn and
keep customer trust. Although leaders pay attention to competitors, they obsess
over customers.

·      Ownership: Leaders are owners. They think long term and don’t sacrifice long-term
value for short-term results. They act on behalf of the entire company, beyond
just their own team. They never say “that’s not my job”. 

·      Invent and Simplify: Leaders expect and require innovation and
invention from their teams and always find ways to simplify. They are
externally aware, look for new ideas from everywhere, and are not limited by
“not invented here”. As we do new things, we accept that we may be
misunderstood for long periods of time.

·      Are Right, A Lot: Leaders are right a lot. They have strong judgment and good instincts.
They seek diverse perspectives and work to disconfirm their beliefs.

·      Learn and Be Curious: Leaders are never done learning and always
seek to improve themselves. They are curious about new possibilities and act to
explore them. Hire and Develop the Best: Leaders raise the performance bar with
every hire and promotion. They recognize exceptional talent, and willingly move
them throughout the organization. Leaders develop leaders and take seriously
their role in coaching others. We work on behalf of our people to invent
mechanisms for development like Career Choice.

·      Insist on the Highest Standards: Leaders have relentlessly high standards –
many people may think these standards are unreasonably high. Leaders are
continually raising the bar and driving their teams to deliver high quality
products, services and processes. Leaders ensure that defects do not get sent
down the line and that problems are fixed so they stay fixed.

·      Think Big: Thinking small is a self-fulfilling prophecy. Leaders
create and communicate a bold direction that inspires results. They think
differently and look around corners for ways to serve customers.

·      Bias for Action: Speed matters in business. Many decisions and actions are
reversible and do not need extensive study. We value calculated risk
taking. 

·     
Frugality:
Accomplish more with less. Constraints breed resourcefulness, self-sufficiency
and invention. There are no extra points for growing headcount, budget
size or fixed expense.

·     
Earn Trust: Leaders
listen attentively, speak candidly, and treat others respectfully. They are
vocally self-critical, even when doing so is awkward or
embarrassing. Leaders do not believe their or their team’s body odor
smells of perfume. They benchmark themselves and their teams against the best.

·     
Dive Deep: Leaders
operate at all levels, stay connected to the details, audit frequently, and are
skeptical when metrics and anecdote differ. No task is beneath them.

·      Have Backbone; Disagree and Commit:
Leaders are obligated to respectfully challenge decisions when
they disagree, even when doing so is uncomfortable or exhausting. Leaders have
conviction and are tenacious. They do not compromise for the sake of social
cohesion. Once a decision is determined, they commit wholly.

·      Deliver Results: Leaders
focus on the key inputs for their business and deliver them with the right
quality and in a timely fashion. Despite setbacks, they rise to the occasion
and never settle.

Top
Management Profile

Jeffrey P. Bezos

President, Chief Executive Officer and Chairman of the
Board

President, Chief Executive Officer and
Chairman of the Board Jeff Bezos founded
Amazon.com in 1994. Amazon’s mission is to be Earth’s most customer-centric
company. Amazon offers low prices and fast delivery on millions of items,
designs and builds the bestselling Kindle hardware, and empowers companies and
governments in over 190 countries around the world with the leading cloud
computing infrastructure through its Amazon Web Services offering. Bezos is
also the founder of aerospace company Blue Origin, which is working to lower
the cost and increase the safety of spaceflight so that humans can better
continue exploring the solar system.

Brian T. Olsavsky

Senior Vice President and Chief
Financial Officer

Mr. Olsavsky joined
Amazon.com in April 2002. As CFO of Amazon.com, he oversees the

company’s overall financial activities,
including controllership, tax, treasury, analysis, investor relations, internal
audit and financial operations. Prior to becoming Senior Vice President and CFO
in June 2015, he served as Vice President, Finance and CFO for the Global
Consumer Business.

Jeffrey M. Blackburn

Senior Vice President, Business Development

Mr. Blackburn has been the
Senior VP, Business Development, since April 2006. From June 2004 to April
2006, he was Vice President, Business Development, from July 2003 to June 2004,
he was Vice President, European Customer Service and from November 2002 to July
2003, he was Vice President, Operations Integration. Prior to joining
Amazon.com in 1998, Mr. Blackburn was Assistant Vice President at Deutsche Morgan
Grenfell. 

Management Philosophies

·      Obsess over customers, not competitors:
Claims many companies watch their competition too much and should be paying
attention to customers.

·      Take risks for market leadership: Make bold
investment decisions. You have to take risk, even if its 10 percent chance with
100 times payout you take the risk.

·      Make employees think like owners: Instead of
wagering off cash as a bonus for employees. Amazon offered employees stake in
the company.

·      Build a culture that’s right for your company:
There isn’t any set goals for companies. Go with a culture that’s right by you
and make sure you can get everyone on board.

·      Empower people — up to a point — to avoid
bureaucracy: Don’t have the less than one percent makes the decisions for the company.
Keep it where you give opportunity in the organization.

Amazon Facts

·      Amazon.com employees spend two days every two
years working at the customer service desk, even the CEO. This practice is to
help all workers understand the customer service process.

·      Amazon’s logo shows a smile
from A to Z in the name to signify that “the company is willing to deliver
everything to everyone, anywhere in the world.”

·      It is the 10th most visited website in the
world

·      Pause for one second. Amazon
just shipped 35 items in that time frame

·      Amazon’s fulfillment center
in Phoenix, Arizona, is 1.2 million square feet. It’s the equivalent of 28
football fields.

Amazon Products and Service

·      Amazon (Amazon.com) — The largest
Internet-based retailer in the world by total sales and market capitalization.

·      Amazon Alexa — Amazon’s voice control system.

·      Amazon Echo — Amazon Echo is a hands-free
speaker you control with your voice. Echo connects to the Alexa Voice Service
to play music, provide information, news, sports scores, weather, and
more—instantly. All you have to do is ask.

·      Amazon WorkDocs — Amazon WorkDocs is a fully
managed, secure enterprise storage and sharing service with strong
administrative controls and feedback capabilities that improve user
productivity.

·      Amazon Kindle — Amazon Kindle is a series of
e-readers by Amazon.com that enable users to browse, buy, download
and read e-books, newspapers, magazines and other digital media via wireless
networking to the Kindle Store.

·      Amazon Prime Now — Prime Now offers household items
and essentials you need every day plus the best of Amazon, with FREE 2-hour
delivery.

Awards

·      Top internet Retailer Excellence Award 2013,
2015,2016, and 2017

·      Fortunes Businessperson of the year 2012
(Ceo)

·      Community Impact Award, Business of the Year
2017

·      Brand Excellence Awards 2014

·      Four Oscar awards (Amazon Studios)

Amazon Market Trading

·     
On May 15,1997, the company amazon decided to go
public. Its stock prices just started at $18 a share and had a market
capitalization of $438 million.

·     
During this time if a $100 is invested into
shares of Amazon. It would be equivalent to over $50,000 In 2017.

·     
Today Amazon is worth $1,163 a share. and is
worth around $427 billion. Total salesfor the years is $137 billion.

References

https://www.cnbc.com/2016/05/13/5-key-business-lessons-from-amazons-jeff-bezos.html

http://phx.corporate-ir.net/phoenix.zhtml?c=97664&p=irol-govmanage

https://www.britannica.com/topic/Amazoncom

http://beta.latimes.com/business/la-fi-amazon-history-20170618-htmlstory.html

http://www.referenceforbusiness.com/history2/35/Amazon-com-Inc.html

https://www.amazon.com/p/feature/zh395rdnqt6b8ea

https://www.amazon.jobs/working/working-amazon/#leadership-principles

https://www.amazon.jobs/principles

https://www.minterest.com/all-things-amazon/

https://www.investopedia.com/articles/investing/082715/if-you-had-invested-right-after-amazons-ipo.asp

Categories: Music

x

Hi!
I'm Iren!

Would you like to get a custom essay? How about receiving a customized one?

Check it out