...Services institution. The company serves individual consumers, small and middle businesses, corporations and Governments with their banking, investing, asset management and other financial products and services 1. The company is headquartered in Charlotte, North Carolina. The company has huge presence in America spanning across 40 states. It serves approximately 54 million consumers in US and its foot print covers 80 % of the population. The bank is being led by Brian Moynihan who succeeded Ken Lewis as the President and CEO effective January 1, 2010. Some of the key highlights of Bank of America are: As of 2010, it is the second largest bank holding company behind JP Morgan Chase in United States by assets which stood over US$ 2 trillion As of 2010, the company is the fifth largest company in United States by revenue which is over 111.4 billion2 The company was also the 3rd largest non-oil company in the US after Wal-Mart and General Electric In 2010, Forbes listed Bank of America as the third largest company in the world 3 The bank has over 5500 branches along with approximately 16300 ATMs and an online banking with 30 million active users 4 The major competitors of Bank of America are JP Morgan Chase, Citi Group and Wells Fargo Bank. 1 http://www.forbes.com/companies/bank-of-america/ 2010 Bank of America Annual Report 3 http://www.forbes.com/companies/bank-of-america/ 4 http://investor.bankofamerica.com/phoenix.zhtml?c=71595&p=irol -homeprofile#fbid=W6HlSIbzfcd 2 4 Bank of...
Words: 4633 - Pages: 19
...IT ELECTIVE (E-BUSINESS) Chapter 1 Case 1 AMAZON.COM Angeles, Catherine Marie Cabral, John Kevin Pangilin, Kristel Mae Sabater, Shenalou 1. New Jersey judge ruled that Amazon.com Inc. violated its agreement to give toy retailer Toys"R" Us Inc. the exclusive right to sell toys and baby products on Amazon's Web site. In the ruling,New Jersey Superior Court Judge Margaret Mary McVeigh said Toys "R" Us can sever theagreement it signed with Amazon in August 2000, in which it agreed to sell toys on Amazon.com'sWeb site, effectively putting Amazon in control of the Web address www.toysrus.com. The rulingpaves the way for Toys "R" Us to operate the Web site independently. Judge McVeigh deniedmonetary damages to both parties.Toys "R" Us filed suit in the New Jersey state court in May 2004 alleging Amazon breached thecontract. Amazon countersued in June 2004, alleging the toy retailer failed to keep items in stockand otherwise adhere to their agreement.The Amazon was disappointed to the judge findings they said that they strongly disagree with the judge's ruling, and they are in the process of reviewing a number of different options Regardless of the outcome and they remain committed to ensuring a great selection of toys for our customers atgreat prices. For its part the Toy R Us said that the company are preparing for the decision and iscommitted to providing customers online access to its web store. The Amazon spokesman said that the company disagrees with the suggestion...
Words: 1046 - Pages: 5
...Business Studies E-Commerce For first teaching from September 2009 For first award in Summer 2011 GCSE E -Commerce At the end of this unit students should be able to: Explain what is meant by e-commerce and e-business; Analyse the advantages of e-commerce for customers and businesses; Analyse the disadvantages of e-commerce for customers and businesses; and Discuss how e-commerce supports international business. Setting the scene: Amazon.com was founded in Seattle, Washington by Jeff Bezos in 1994, and was officially launched in 1995. It started out as an online bookstore but quickly diversified by adding other items, such as DVDs, music CDs, software, video games, electronics, MP3s, clothing, furniture, toys and even food items. Amazon.com grew rapidly throughout the late 90’s, and managed to survive what became known as the dot com crash. Amazon.com has become one of the world’s largest on-line retailers with almost 25,000 employees and global sales in excess of $24 billion per year. The company continues to go from strength and is currently the UK favourite on-line retailer and third favourite retailer overall. The impact of ICT on business Developments in information and communications technology have fundamentally changed the way businesses sell and distribute their goods and services. New technology such as the internet and broadband has opened up a whole new world of opportunities for business. The amount of trade conducted electronically has grown dramatically...
Words: 1947 - Pages: 8
...Amazon.com Evolution Business Information Systems/219 October 25, 2010 Amazon.com Evolution With an untold amount of online retailers fighting for a piece of the consumer dollar, only one has risen to the top to become the world’s largest online retailer. With a diverse set of services to support its online retailing, Amazon is in direct competition with two of the largest Internet and software companies, but by using its vast informational resources Amazon has continued its success in internet based business. Many analysts and consumers wonder if Amazon.com is moving away from its core competency of being an online retailer. When you first look at Amazon.com starting from a book seller and trying to become a service provider your initial answer would be yes however, according to Jeff Bezos, the founder of Amazon.com his vision of the company was to create a place you could buy anything and everything. Bezos decided to start selling books because of the low cost, and he did it online because a computer allows you to sort, search and organize a wide selection. Between 1998 and 1999, Amazon.com went from books to music, DVDs/video, toys, electronics, home improvement, software, and games. As sales rise they continue to adventure out to a broader spectrum to bring more to their consumers. Amazon.com always focused on selling products to others and now was ready to launch other services. For instance auctions, search engines, simple storage...
Words: 1297 - Pages: 6
...Amazon.com Description of Organization, all subsidiaries and/or business units Amazon.com is a global company that has many subsidiaries around the world. Amazon employs over 88,000 people on all seven continents. It is one of the leading e-commerce companies found on the internet selling items from appliances, books, electronics, wine and everything in between. Whatever the consumer is looking for can most likely be found at Amazon.com (Amazon, 2013a) Amazon made its start by selling books to consumers that loved to read but very soon realized that if they offered more products it would appeal to more people and increase customer base along with profits. “Today more than two million small businesses, world-class retail brands and individual sellers increase their sales and reach new customers by leveraging the power of the Amazon.com e-commerce platform (Amazon, 2013a).” One of the subsidiaries that Amazon has developed is its e-reader, The Kindle. Amazon was the first company to bring the e-reader into existence and drove other companies to develop similar products, such as the Nook by Barnes and Noble and other less popular e-readers. Amazon changed the way consumers read books, magazines, newspapers, and even watched movies and television all on one device (Amazon, 2013a). Another subsidiary is Amazon Cloud, which is a way for consumers to store books, movies, television shows, and even music in one place without having to take up the storage on one’s personal...
Words: 2111 - Pages: 9
...we will be discussing the strategies of Amazon.com to see whether the Internet icon is moving away from being the number one leader online. We will be showing different areas to see if Amazon.com is using the right strategy to compete with Google and Microsoft. We find the different issues concerning the database and data management with Amazon.com. Finally we will be discussing the uses of e-business and e-commerce for the B2B and B2c. As of January 2010, Amazon.com was considered the largest online retailer in the United States. Amazon was launched in 1995 by its founder Jeff Benzo. Benzo’s original idea was to create an online bookstore. Compared to traditional bookstores or even mail-order systems, an online retailer could carry a far greater quantity of books for sale. Just like most businesses, even the traditional bookstores, Amazon expanded its business past just books and began adding an array of items; ultimately making its way to selling almost anything possible. Stockholders of Amazon.com, knew the turn over would be a rather slow process with the gradual growth of online sales, but none-the-less they would expect a profit. It took Amazon until its fourth year to produce any revenue and finally to hold its ground as an online retailer. This slow progress made Amazon move away from its original concept of being a leading online retailer. Amazon decided to broaden its horizons and delve further into e-commerce. When originally launched Amazon was...
Words: 1145 - Pages: 5
...Amazon.com Evolution Introduction Amazon.com, Inc. a fortune 500 company in Seattle, opened on the World Wide Web in July 1995 founded by Jeff Bezos, and today offers Earth’s biggest selection. Amazon.com, seeks 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. Amazon.com and other sellers offer millions of unique new, refurbished and used items in categories such as books, movies, music, games, digital downloads, electronic and computers. Amazon Web service provides Amazon’s developer customers with access to in-the cloud infrastructure services based on Amazon’s own back end technology platform, which developers can use to enable virtually any type of business. The company maintains a staff of programmers, editors, executive and all-around book lovers. (Amazon.com, 1995). Team A will address the core competency of Amazon.com, their competition; the uses of the Amazon.com database, and describe how Amazon.com uses e-business and e-commerce for B2B and B2C. Core Competency Based on the information and evidence Amazon.com is moving away from its core competency from Book Seller to Service Provider. The on-line retailer has decided to provide a series of computing, storage, and other services that make its infrastructure available to companies and individuals to help them run the technical and logistical parts of their business....
Words: 1101 - Pages: 5
...An e-Business Analysis of Amazon BUS352: e-Business Instructor August 25, 2014 An e-Business Analysis of Amazon.com Amazon.com is an online retailer that sells virtually anything you can think of including new, used, and refurbished items. Now a Fortune 100 company, Amazon.com was founded in 1994 by Jeffry Bezos with a mission “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” (Amazon, 1996). Although stationed in Seattle Washington in the United States, there are a number of fulfillment centers across the globe allowing for Amazon.com to reach customers in Italy, Canada, Germany, United Kingdom, Japan, Spain, France, and China. Technological innovation has driven them to expand and create the original Kindle reader in 2007 taking the e-book hardware industry to a whole new level. Amazon.com is the representation of a true online retailer working for its customers to provide efficient, accurate, at ease shopping to its customers and consumers alike. Amazon.com has evolved from the average website to a strategically planned e-commerce partner. The company itself defines its lines of business in terms of product sales, service sales, AWS, fulfillment, publishing, digital content subscriptions, advertising, and co-branded credit cards. Among many of the innovations for customers, they offer a personalized shopping experience for...
Words: 2054 - Pages: 9
...Amazon.com Team B Assignment University of Phoenix The evolution of Amazon.com has increased the Internet giant’s footing in the e-commerce world, taking the book retailer from the beginnings of providing a shopping experience above the walk in bookstores of the past. Today, Amazon offers services to thousands of businesses as well as the continued service for both sellers and buyers of many products of music, apparel, movies, toys, pet supplies, and more. Amazon’s strategy has moved the Internet business from retail to competing with Google and Microsoft to offer data and information storage retrievable by uncomplicated software. Amazon’s use of e-business and e-commerce in the B2B and B2C realm continues to add services for businesses to reduce operating costs and increase the subscriber’s efficiency that places Amazon in a position unimaginable 10 years ago. Amazon.com is a business whose sole transactions involve the Internet to some extent. Unlike many traditional department stores, Amazon has no storefront from which to conduct business. Its entire operation operates via e-commerce or e-business. E-commerce is the sale, purchase, or exchange of items, including products and services, over a computer network. E-commerce is similar to e-business, but includes all aspects of a business, including developing customer relationships and collaborative efforts between companies. Amazon uses both e-business and e-commerce in its business dealings to achieve...
Words: 1389 - Pages: 6
...The Internet Business Review Issue 1 – October 2004 THE IMPACT OF E-COMMERCE INDUSTRY TURMOIL ON AMAZON.COM: A STRATEGIC PERSPECTIVE Russell Casey - Clayton State University, USA William Carroll - University of Phoenix, USA Edited by Faith W. Smalls Abstract Internet retailers face intense competition in their quest to gain market share due to the large number of competitors, ease of entry, low switching costs and the strength of existing multi-channel retailers. To survive, it is critical that online retailers create a sustainable competitive advantage in their e-commerce strategy and plan for long-term strategic positioning. The article uses a case study analysis of Amazon.com's strategy to develop an understanding of the e-commerce competitive environment and the importance of building a sustainable competitive environment to create value for the firm, its customers, and its shareholders. © 2004 The Internet Business Review The Internet Business Review Issue 1 – October 2004 Introduction Is the Internet a leech that sucks a company’s assets dry? Many investors, entrepreneurs, and managers pondered this billion-dollar question as hundreds of dotcoms collapsed over the last two years. Companies, such as Boo.com, Etoys, Onsale, @home, and Webvan, are extinct and many more cling to existence. The dreams of consumers, shareholders and other stakeholders have been shattered. From their inception, these dotcoms were going to revolutionize the world and...
Words: 8879 - Pages: 36
...Amazon.com Strategic Analysis Amazon.com is one of the world’s leading online retailers. Simply being online has been their main strategic focus from the beginning. Jeff Bezos created the company in 1994 from his garage in Bellevue, Washington. At that time books were the only product sold to customers. The company went public and started selling music and movies in 1997. Over the last 14 years the site has included many more products to the list of items that they sell such as apparel, electronics, DVD’s, toys, games, etc. This essay will discuss if Amazon.com is moving away from its core competency of being an online retailer and the competitive areas between Google, Microsoft, and Amazon. We will also address the uses of Amazon.com database; possible data management issues; the relationship among Amazon’s data, information, and knowledge. The essay will conclude by describing how the retailer uses e-business and e-commerce for B2B and B2C. Transition from Core Competency While Amazon.com remains the top retail provider amongst sales, the profit margins are not as high as investors want them to be (Rainer & Turban, 2008). Profits have fallen, and the operating margins are at 4.9 %, which is below Wal-Mart whose margin is 5.1 % (Rainer & Turban, 2008). Online shopping has become a more desired way amongst the consumer world. With the increasing business comes competition. As a result, Amazon is becoming more and more a part of the technology world. It would not be said...
Words: 1184 - Pages: 5
...kind on the internet. A service provider of many services Amazon has the integrity and the ability to be the best. Amazon is well known for its accomplishment’s many have attempted but only a few have duplicated. With other websites like Google and YouTube, competition has stirred up web wars through customer attraction. This paper will dig deeper into the ongoing competition as well as the strategy that Amazon has taken putting themselves in the position Amazon, is it in today? Everyone has the option to go with any website they choose while choosing the services they expect. Reasons along with examples are described and investigated within. The Evolution of Amazon There are fierce competitions between different online retailers available. One of the largest being Amazon, Google should be included into the mix of competition. Everyone one around the world has and does business with one or more of these online providers daily. Amazon has spent billions of dollars to generate and build infrastructure while using only ten percent of its capacity at any given time. It has become reality and inevitable that attempting different approaches to get the upper hand with advertising and other angles helps and gets the word out. Amazon does this while leading themselves into the “heavy hitters” they have become. Keeping goals that have been put into place and into the direction of overall superiority is and always will be priority. With Amazon, Google competition...
Words: 1155 - Pages: 5
... Amazon has grown from an online bookstore to an online one stop superstore. You can buy anything from books to computer components and toys on their website. They were founded by Jeff Bezos in 1994, and have grown exponentially since then. Information technology has helped them immensely along the way as this paper will demonstrate. They do everything from shopping to web-based applications involved in cloud computing for other businesses while staying true to their core competency. Amazon has appropriately evolved as a company to be successful in a high-tech environment. This company was founded in 1994 for selling books at a reasonable price. They made sure they had a good customer service to retain customers. By 1999 Amazon.com was formed, now Amazon really could reach a lot of customers due to the internet. So now they book stores and able to sell books to people at their own home, this was very convenient for customers. They did not have to leave their comfort of their own home. In 2000 Amazon opened their customer service center, this way the company could handle their customers in one location, saves on management and hourly’s. Because you have all of your staff in one location. In 2001 Amazon announces an alliance with Borders; this alliance increases inventory and variety of books they can offer on their web site. In 2003 the company expanded to sports and outdoor stores, this way they can try to gather in a new customer base, so by opening these...
Words: 1887 - Pages: 8
...Subject: E-logistics and International Supply Chain Management. Topic: How to use internet to support logistic activities? Abstract: Now a day’s, many companies are adopting the usage of internet technologies to improve the effectiveness of the logistic activities. This paper aims to investigate the use of internet technologies at Amazon and how it manages its logistic activities. Keywords: Internet, logistic activities, E-logistics, E-commerce. Introduction: Internet connects entities to global market place. It is a computer to computer communication. The use of internet affects the success of the companies and help in developing e-logistic activities. It has a major impact on information exchange of the companies has it acts as a communication channel with which business transactions are made fast. The growing application of Internet-based systems like Enterprise Resource Planning (e-ERP); Maintenance, Repair and Operations (e-MRO); Materials Requirements Planning (e-MRP); Electronic Data Interchange (e-EDI); e-procurement and e-auctions in various parts of the world has shown that the Internet can help to provide efficiency in supply chain activities to improve the competitiveness of the companies involved (Bendoly and Schoenherr (2005); Davila et al.,(2003); Hartley et al.,(2004); Kheng and Al-Hawamdeh (2002); Muffatto and Payaro (2004); Paterson (2005); Presutti (2003); Puschmann and Alt (2005); Singer (2003); and Yang et al.,(2007)). Amazon.com: Amazon was...
Words: 1092 - Pages: 5
...transforming the value chain from manufacturers to retailers to consumers, creating a new retail distribution channel ( 1999). Website development is a powerful tool used by different business organizations around the world. It is defined as the process of achieving business objectives utilizing electronic communications technology. Internet has change the way of life of many people worldwide. With the advent of such technology, it brings convenience and easy mode of information transfer among people of diverse locations. The Internet, as one of the most popular form of new mass communication technology, has long been of full use and advantage to all sorts of businesses especially those who are in need of efficient and wide market reach on which to channel their promotional messages. Business, information and entertainment have been communicated with ease through such technological revolutions. These technological advancements have brought people especially those in the business world to utilise a strategy that would be helpful in enhancing the business value of any organisation ( 2003). Today, the business sector uses Internet predominantly. It serves as the infrastructure for electronic commerce (e-Commerce) and electronic business (e-Business) ( 2002; 2002). Within a single-button-click, various data will appear in a significant time allocation. Speed may be considered as one of Internet’s feature in the e-Commerce and e-Business. Through the speed, it enables business to...
Words: 2868 - Pages: 12