Amazon has been considered as one of the largest bookstore and online store in the global market. Amazon.com has a simple mission statement that truly shows that the company is destined to be a big player in the market, “Our vision is to be earth's most customer centric company; to build a place where people can come to find and discover anything they might want to buy online” (Bezos, 2010). The company has millions of customers in over 150 nations. Amazon’s main website offers millions of DVDs, music, books and videos not to mention their products from household, electronics, apparel and clothes, cosmetics, drugs and other goods someone may seek to purchase online. Though the company has highs and lows, they are able to manage the companies and sustain their competitive advantage. A great deal of Amazon’s success can be attributed to one man, Jeff Bezos; the founder and visionary behind Amazon.com and a founding father in the field of ecommerce. Jeff Bezos was born in Albuquerque a relatively small town in New Mexico. “From an early age, Jeffrey displayed a striking mechanical aptitude.” (Henry, 2010) Even as a toddler, a young Jeff was able to dismantle his entire crib with a screwdriver, which in itself is impressive. When he was a teenager his family packed all their belongings and left New Mexico for Miami, Florida. During his high school days in Miami, Bezo obtained his love for computers and electronic components. Bezos finished as the valedictorian of his class and proceeded to enroll at the prestigious Princeton University. Bezos originally planned to study physics, but early into his freshmen year his love of computers and electronics got the better of him and he switched his major. Bezos ended up graduating from Princeton University with a degree in computer science and electrical engineering. Despite all his collegiate accolades to a successful Wall Street career Bezos wouldn't be a household name, if not for in 1994, when he hadn't noticed the Internet's potential for commerce and abandoned a well-paying job at the investment firm D. E. Shaw, to return to the garage and launch Amazon. A few years after this graduation Bezos typed a business plan. He decided that the company would be called Amazon. The websites name is a reference to the seemingly endless South American river with its numberless branches, because Amazon.com would be website with endless possibilities and he was to market it that way to his potential business partners.
After the formation of the Amazon business plan Bezos and his partner Mackenzie set up a small location in a two-bedroom house, with extension cords running to the garage to allow them to run the website. Using some cheap microcenters Jeff had picked up from Home Depot, the Amazon website was finally able to be tested. When the testing of site was up and running, Jeff asked 300 friends to help him test out his website. These 300 people were the first market testers of Amazon and the feedback they provided made Amazon grow to what it has become. The code that Bezos had written with his knowledge of computer science worked seamlessly across different computer platforms. “On July 16, 1995, Bezos opened his site to the world, and told his 300 beta testers to spread the word. In 30 days, with no press, Amazon had sold books in all 50 states and 45 foreign countries.” (Spiro, 2005) By September of 1995 Amazon has receiving $20,000 a week in sales, which at the time was significant for a new online business. Bezos and his team continued improving the Amazon over the few months and years. Bezos and his team introduced such unheard-of features as one-click shopping, customer reviews, and e-mail order verification, which are all still used to this day. Amazon grew faster than Bezos or anyone else involved in the situation could have ever imagined. When the company went public in 1997, many skeptics wondered if an Internet-based bookseller like Amazon was could maintain its position
Jeff Bezos, the founder of Amazon.com, was born in Albuquerque, New Mexico in 1964. His mother, Jackie, was in her teens when he was born and she was only married to his biological father for about a year. She married Mike Bezos when Jeff was four. Mike was a Cuban who escaped to the United States when he was fifteen. He put himself through college in New Mexico and eventually became an engineer at Exxon. Jeff attended Miami Palmetto high school and was valedictorian of his class. He went to Princeton…
offered one-million book titles through its website and posted net sales of $511,000. But, after accounting for operating expenses, it incurred a net loss of $303,000. (Devi, 2008) This loss did not deter Amazon CEO, Jeff Bezos, who believed that his fledgling business would succeed. Mr. Bezos continue to work diligently to make Amazon better. By 1996 he had hired about 151 employees and had 2.5 million titles online. Although the business had grown, Amazon.com still suffered a net loss of $5.7 million…
Amazon.com CEO Jeff Bezos Business and Leader Profile Anissa M. Jones November 15, 2012 CURRENT CEO PROFILE Jeff Bezos is the founder and current CEO of Amazon.com. He holds a B.S. in Electrical Engineering and Computer Science from Princeton University, graduating in 1986. After this he worked on Wall Street for D. E. Shaw & Co. It was here that he discovered that Web usage had a projected growth of 2300% and came up with the idea to start an online company, with book sales being the…
Amazon's P/E of 3,000 The Ultimate Buy Signal Rocco Pendola 01/08/13 - 03:27 PM EST NEW YORK (TheStreet) -- Amazon.com (AMZNhttp://www.thestreet.com/quote/AMZN.html) CEO Jeff Bezos is so much smarter than all of the idiots who short his . . . Wait. Very few people actually short AMZN. You see, Amazon bearishness is all talk and zero action. It's understandable that only about 2.5% of the stock's float is short. Not enough "idiots" (in the John Locke sense of the word) exist among us. Unless…
(2014, July 26) Retrieved from http://topics.wsj.com/person/b/jeff-bezos/698PART 3: STYLE ANALYSIS OF JEFF BEZOS Leadership Style of Jeff Bezos (p. 122) Style Entrepreneur leadership Evidence Jeff Bezos is one of the most successful entrepreneurs in the world. That is why he is one of the few billionaires in the world. Amazon was his concept, he was a pioneer for ecommerce, and…
Yuchen Sui MGT300 Management Update Report Jeff Bezos's New Plan for News: The Washington Post Becomes an Amazon Product October 06, 2014 http://www.businessweek.com/articles/2014-10-06/jeff-bezos-plan-for-news-washington-post-becomes-an-amazon-product Summary: Jeff Bezos wants to turn the Washington Post into a national publication, and he’s going to use his other company—Amazon.com (AMZN)—to help achieve that goal. Post came up with a new APP, which is a step to initiative focused on the…
of this without the hassle of being interrupted. Orders are received in a very timely manner. Amazon.com CEO Jeff Bezos developed unique approaches to increase customer happiness. On many occasions, Bezos has discussed the differences Amazon makes concerning overall customer experience and customer service. Correcting consumer issues creates more loyalty among customers according to Bezos. Ina addition, this also allows Amazon to identify persistent problems that require attention more thoroughly…
toys etc. or digital products such as e-books, songs, software etc. Amazon.com is one of the biggest example of E Business. It was virtually launched in July 1995 by Jeffrey Preston Bezos, the founder, president, chairman and CEO of the board of the Amazon.com which originally started as an online bookstore. Before Jeff started all this, he took a course on how to start a bookstore which was sponsored by the American Booksellers Association. After the launch of Amazon.com in United States, the site…
video games, electronics, apparel, furniture, food, toys, and jewelry. The company also produces consumer electronics—notably the Amazon Kindle e-book reader and the Kindle Fire tablet computer—and is a major provider of cloud computing services. Jeff Bezos incorporated the company (as Cadabra) in July 1994 and the site went online as Amazon.com in 1995.[12] The company was renamed after the Amazon River, one of the largest rivers in the world,[12] which in turn was named after the Amazons, the legendary…
describes the actions that allowed Jeff Bezos, the CEO of Amazon.com, to become one of the most admired leaders in the world. Early in his life as a leader of Amazon, Bezos said that his main priorities were his company’s customers and its long-term success. Defying the Wall Street analysts who were looking for shorter-term results, Bezos grew his company slowly while creating an infrastructure that never wavered from his original goals. Today, Deutschman explains, Bezos is a leader among leaders whose…