...Introduction Jeffrey Preston "Jeff" Bezos is an American business magnate and investor. He is a technology entrepreneur who has played a key role in the growth of e-commerce as the founder and CEO of Amazon.com, an online merchant of books and later of a wide variety of products. Under his guidance, Amazon.com became the largest retailer on the World Wide Web and a top model for Internet sales. In 2013, Bezos purchased The Washington Post newspaper. Background Jeff Bezos was born on January 12, 1964, in Albuquerque, New Mexico, to a teenage mother, Jacklyn Gise Jorgensen, and his biological father, Ted Jorgensen. Bezos's parents were married less than a year, and when Bezos was four years old his mother married his step-father Mike Bezos, a Cuban immigrant. As a child, Jeff Bezos showed an early interest in how things work, turning his parents' garage into a laboratory and rigging electrical contraptions around his house. As a teenager, his family moved to Miami where he developed a love for computers and excelled in school, becoming the valedictorian of his class. While in high school, he attended the Student Science Training Program at the University of Florida, receiving a Silver Knight Award in 1982. In high school, he also started his first business, the Dream Institute, an educational summer camp for fourth, fifth and sixth graders. Bezos pursued his interest in computers at Princeton University, where he graduated summa cum laude in 1986 with a Bachelor of Science...
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...Lessons learned From Jeff Bezos Jeff Bezos is an excellent leader who is responsible for the rise and growth of Amazon in the world of e-commerce. One of the important lessons to learn from his leadership is that knowledge and intelligence are fundamental to become a good leader. Jeff Bezos focuses mainly on customer needs and continuously tries to enhance the customer experience, hence it took almost an year to develop the customer friendly Amazon website and another three months to test it. He is widely respected in the company for his knowledge and technical expertise. For instance, he pointed out all the key problems in a report presented to him by a supply chain manager in a matter of few minutes which surprised everyone present. One of the most important thing to have as a leader is to possess the ability and knowledge that matches your position. A leader should have the vision, courage and ability to lead the company successfully and moreover should command the respect of his employees. The key lesson to learn from Jeff Bezos is that knowledge and intelligence define a leader and before one becomes a leader he should work hard to acquire the necessary knowledge and possess the ability required to lead others. Besides a numbers of merits, there are also several areas where Jeff Bezos was an ineffective leader. Bezos not giving importance to his employees and being tough on them are some of his mistakes as a leader. It can learnt that it is very important for a leader...
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...F11MANA3001 Jeff Bezos 104 Get your Wikispaces Classroom now: (https://www.wikispaces.com/t/y/classroomswitch/banner/1/) the easiest way to manage your class. Jeff Bezos 104 (/Jeff+Bezos+104) Edit 35 (/Jeff+Bezos+104#discussion) 25 (/page/history/Jeff+Bezos+104) … (/page/menu/Jeff+Bezos+104) Jeff Bezos It takes a lot of guts to leave the comforts of your stable job on Wall Street, then move your family halfway across the country and invest all of your parents’ life savings to start up a new business with merely a 10% chance of success. However, Jeffrey Preston Bezos, later wellknown as “Jeff” Bezos, decided to make the gamble. “I knew that if I failed I wouldn’t regret that, but I knew one thing I would regret is not trying.” With this philosophy in mind, Bezos created Amazon.com in 1995. Initially, Amazon was just an online bookstore. Over the years though, Amazon diversified its merchandizes and began to sell DVDs, videos, MP3 players, video games and electronics, etc. The humble business, which kicked off in Bezos’s garage, has become a giant online retailer today, shipping a vast range of products to customers around the world. The inspiration for Amazon sparked off when Bezos discovered an amazing phenomenon: internet usage was increasing by 2300% a year. This statistic set off an alarm in his head. He began to brainstorm ideas on how to build a business plan around this growing industry. After doing some research, Bezos decided that books would be the ...
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...Jeff Bezos: Inventor of E-Commerce Biography of Jeffrey P. Bezos Chairman and CEO of Amazon.com Jeffrey P. Bezos was born on January 12, 1964 in Albuquerque, New Mexico. He displayed an outstanding mechanical aptitude, even from an early age. As a teenager, Jeffrey’s family moved to Miami, Florida. His love for computers started in his early high school years and eventually became valedictorian of his class. Furthering his education, he entered into Princeton University to study physics, but soon switched majors and graduated with a degree in computer science and electrical engineering. After graduation, Bezos started working on Wall Street for the start-up company, Fitel. After a few observations about the Internet and its trends, he decided to go out on his own and take a chance with his own company. With that, the well-known Amazon.com was born. Bezos should be looked at as an inspiration to not only other entrepreneurs out there, but to anyone who has a great idea and runs with it. Without Jeffrey’s intuition, determination, and exceptional knowledge about the Internet, Amazon.com might not be the great success that it is today. There was no Internet commerce to speak of still in 1994. One day Bezos noticed that the Internet usage was increasing by 2,300 percent a year. He saw an opportunity for a new sphere of business, and immediately began considering his possibilities. He knew the only way to seize the opportunity was to go into business for himself. He and...
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...Jeff Bezos, founder of Amazon.com Life and work story of Jeff Bezos Career Pathways Period of Time Came to this new-established firm after graduate from university Fitel 1986 1990 Worked as a computer science specialist then pointed as a senior vice president D. E. Shaw & Co. 2013 Purchased the newspaper section for $250 million cash of TWP The Washington Post Introduced Amazon.com to public and successfully made $20,000 sales in a week and kept improving the site till now Amazon 1995 2007 Establish an aerospace company, which is aiming to build up human existence in outer space by developing new technology in space flight Blue Origin Jeff bezos was born in Albuquerque, New Mexico on 12th January 1964 with full name of Jeffrey Preston Bezos. He ever turned his parents’ garage into a laboratory and makes cordage of electrical contraptions around house. He pursued his interest by studying computer science and electrical engineering at Princeton University, New Jersey, United States. On that time, computer science was in high demand to study market trends. Being graduated from university, Bezos started to work in Fitel, new firm that tried to establish network for international trade. Then he was hired by D. E. Shaw & Co., a global investment firm based in New York City, America and shortly he became a senior vice president in 1990. On July 16, 1995, Bezos opened Amazon.com, named from the South American river which has endlessly...
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...Jeff Bezos is the founder and Chief Executive Officer of Amazon.com. Forbes named him as the 17th most powerful person in 2015, down from 16th in 2014 (The World's Most Powerful People). He is also listed as #4 in Forbes 400, #3 Richest in Tech, #15 Billionaires in the world, and #11 Billionaires in the United States for 2015 (The World’s Most Powerful People). His current net worth is listed as $49.2 billion and changes daily with stock prices (The World's Billionaires). Jeff Bezos founded Amazon in 1994 under the name of Cadabra and the name was changed a year later to Amazon (Amazon). Amazon began as an online bookstore based out of a garage. Bezos would drive orders to the post office for delivery each night after working his normal job. With the leadership of Jeff Bezos, Amazon has grown to the largest online retailer in the United States (Amazon). Leadership Style Jeff Bezos has multiple leadership styles. This is important as the leader of a company worth more than $175 billion (The World's Most Innovative Companies). Blanken (2013) explains that “if you’re leading well, you won’t have just one leadership style.” Jeff Bezos can be described as a “task-oriented transactional leader” (Sinha, 2015). Sinha (2015) defines a transactional leader as “one with rigorous benchmarks who is often uninterested in other people’s opinions.” Bezos is so different that other companies, such as Groupon, who have hired many former Amazon employees, have tried to use Bezos’s...
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...Inside Amazon’s Idea Machine: How Bezos Decodes the Customer Jeff Bezos is known for his customer-centric beliefs and his attention to business details. According to Anders (2013), he "is a notorious micromanager… an executive who wants to know about everything from contract details to how he is quoted in all Amazon press releases”. Jeff Bezos' Amazon.com is the world's largest internet retailer of any kind reporting more than $61 billion in 2012 sales (Anders, 2013). Based on an article published by Forbes in April 2013, this work identifies some of Jeff Bezos’ leadership traits and style that have influenced him to build Amazon into one of most profitable and most admired companies in the world. The article by George Anders (2013), contributor writer for Forbes, highlights how Amazon was transformed from an online bookstore to a giant Internet retailer, Bezos’ customer-centric strategies to figure out what his 164-million customers want and not his 56,000 employees, and how Amazon manages its “culture of metrics” in order to track its performance through about 500 measurable goals. Through Jeff Bezos’ greatest accomplishment of transforming Amazon from an online bookstore to a giant Internet retailer, this author can identify Bezos’ leadership traits, such as intelligence, self-confidence, determination, and integrity, within the framework of Trait Approach. The Trait Approach suggests that organizations will work better if the people in the managerial positions have designated...
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...J. McCovey, 2013). Customers enjoy shopping with Amazon because they can buy without dealing with sales people. They are well known for providing great and reliable service to their customers, and they do not employ sales people. Shopping at home has become an excellent way for many busy individual to shop. Purchase what you want, and pick your options for shipping then back to what you were doing. Orders are usually shipped and received in a timely manner. Amazon’s CEO is Jeff Bezos, who has developed many approaches to increase customer satisfaction. Bezos has created loyalty from his customer’s buy fixing consumer issues, and identifying and correcting persistent problems. Now the CEO has come up with other ideas on how to ship faster, bring more customer satisfaction, how to keep the buyers loyal, starting an on-line grocery store, and so much more. The CEO saw a future in on-line shopping. Whatever the consumer wanted, whenever the customer wanted it, and wherever they wanted the product. Bezos believes that the company can achieve same-day delivery. “Since their creation over fifteen years ago, Amazon has developed three approaches in an attempt to ensure their target market...
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...CASE PREPARATION CHART |Student Name |MARILYN CHOO LIH CHEEN | |Student ID |1092701475 | |Submission date |5/5/2015 | |Case title |Amazon.Com | |Section |AC 03 | ASSESSMENT To be filled by facilitator |Components |Scores |Scores | | |1 mark |2 marks |3 marks |4 marks | | |Submission |On-time |N/A |N/A |N/A | | | |submission | | | | | |TOTAL | | ...
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...In order to spread news of Amazon's innovative experiments to not only his company, but the media and public, Jeff Bezos has taken on the spokesperson role. “...Managers in the spokesperson role share information with people outside their departments or companies.” (Williams, 12) Bezos has shared news about products such as the Kindle Fire, Amazon Fresh trucks, and more recently the possible use of airborne drones to make deliveries to Amazon Prime members. These drones are another example of how Amazon is at the forefront of technology; “Prime Air is a future delivery system from Amazon designed to safely get packages to customers in 30 minutes or less using unmanned aerial vehicles, also called drones.” (Amazon) Amazon is on the fast track...
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...1 ! ! ! ! ! ! ! ! ! ! Amazon and the Quest for Domination BUS 620 Managerial Marketing October 27, 2014 ! ! ! ! ! ! ! ! ! ! Amazon !2 Amazon and the Quest for Domination With a name that has become synonymous with online-shopping, Amazon has become one of the most recognizable and influential brands in the world. Founded in 1995, Amazon has dramatically changed and expanded the options and opportunities for consumers as well as competitors. Amazon’s CEO, Jeff Bezos, is not content with the status quo. “Amazon is a company that is anything but asleep. Amazon, in fact, is an eyes-wide-open army fighting--and winning--a battle that no one can map as well as its general (McCorvey, 2013).” Bezos realized that consumers desire low cost and fast delivery, and he took these consumer-driven concepts to never-before-seen heights through the implementation of fulfillment centers, Amazon Prime, and AmazonFresh. According to McCorvey, Bezos’ goal is for Amazon to create global, same-day delivery. This goal of same-day delivery is entirely possible, and Amazon is well on its way to realizing its plan. To make sense of how this plan will come to fruition, it is important to look at what brought the company to its current position, analyze Amazon’s competition, and understand how the company plans to reach the same-day delivery milestone. History Amazon’s CEO has been looking ahead from the beginning, wiring to understand the consumer...
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...Amazon.com Inc. CSR Jeff Bezos founded Amazon in 1994. After hearing about the future of the Internet, he started to think of items he could sell online successfully. Bezos created a list of 20 items that he thought he could market online, and then decided his new company would sell books online. He picked books because of the worldwide demand of literature, the low price of book, and the huge number of titles available in print. Bezos’ company originated in his garage in Bellevue, Washington. After two months in business, Bezos had sold to all 50 states and over 45 countries, and sales were up to $20,000/week. When it came to naming his company, Bezos wanted something that started with an “A” so that it would one of the first companies in alphabetical order. After searching through the dictionary he settled on “Amazon” because it was a place that was “exotic and different” and that is what he wanted his store to be. He also liked Amazon because it was the biggest river in the world, and he planned to make his store the biggest in the world. In 1994, Amazon was incorporated. In July of 1995, the company sold its first book on Amazon.com. In October of 1995, the company announced itself to the public. Amazon issued its initial public offering of stock on May 15, 1997, under the stock exchange symbol AMZN, at $18.00 per share. As of November 1, 2013, AMZN is up to $358.10 per stock and the highest stock was offered at $365.77. Amazon product lines now include: books...
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...Amazon.com 1. How would you define Amazon’s industry? What difficulties do you encounter identifying primary competitors and key lines of business? Amazons primary industry is electronic commerce. At its core Amazon is an electronic commerce retailer. But over the years the brand has developed into something grander. Originally the company started out as an online bookstore but now has diversified its inventory to include dvds, software, video games, electronics, furniture, apparel, food, toys, and jewelry. Amazon has also become a producer of their own brand of consumer electronics, most notably their line of Kindle e-book readers, Fire Tablets, Fire TV, Fire phone, and is now a leading provider of cloud computing services. Now Amazon is starting to introduce a new service called Amazon Fresh. Amazon Fresh will bring the grocery shopping experience into the comfort of your home. The customer will be able to order his or her groceries through Amazon and have them delivered the very same day. Fast and convenient, no longer will one have to make the tedious trek out to the supermarket in order to load up on food. The difficulty in identifying a primary competitor is the fact that no company comes close to doing everything that Amazon does. Sure there are plenty of companies that specialize in selling some of the items that are found on Amazon.com, but nowhere else will you be able to order a used copy of an algebra textbook your son needs for school, a diamond pendant for your...
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...Copyright Act of 1976, the scanning, uploading, and electronic sharing of any part of this book without the permission of the publisher is unlawful piracy and theft of the author’s intellectual property. If you would like to use material from the book (other than for review purposes), prior written permission must be obtained by contacting the publisher at permissions@hbgusa.com. Thank you for your support of the author’s rights. For Isabella and Calista Stone When you are eighty years old, and in a quiet moment of reflection narrating for only yourself the most personal version of your life story, the telling that will be most compact and meaningful will be the series of choices you have made. In the end, we are our choices. —Jeff Bezos, commencement speech at Princeton University, May 30, 2010 Prologue In the early 1970s, an industrious advertising executive named Julie Ray became fascinated with an unconventional public-school program for gifted children in Houston, Texas. Her son was among the first students enrolled in what would later be called the Vanguard program, which stoked creativity and independence in its students and nurtured expansive, outside-the-box thinking. Ray grew so enamored with the curriculum and the community of enthusiastic teachers and parents that she set out to research similar schools around the state with an eye toward writing a book about Texas’s fledgling gifted-education movement. A few years later, after her son had moved on to...
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...Tv lines show systematic and intuitive thinking? Bezos shows both intuitive thinking in his products by continiously coming up with new products to compete with his competitors such as adding Fire TV lines to compete with apple TV or allowing Amazon Prime members to stream videos and TV shows for no additional cost. He also uses systematic thinking by carefully planning and choosing which products he will come out with next and how he can improve on previously existing items such as developing the newer kindle fire from the original kindle idea. Question 2: How do you describe the competitive risk in Amazon's enviroment as other retailers, including Walmart, strengthen their online offerings? The competitive risk that other online stores have against amazon is that on amazon, you can find multiple versions of the exact same product from different places and for carrying prices. while online shopping at walmart, you only find one product for one price if the product is sole there. i would suggest to strengthen online offerings, having special online sales for products at a lower price found anywhere else such as amazon. Question 3: Amazon is continuously looking for new markets to exploit. As CEO jeff bezos addresses the strategic opportunity of streaming video, he calls on you to advice on gaining more customers from the younger generations. Amazon's presence and technology are well established, but Bezos sees a lot of untapped potential in this market. But...
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