Essay on Amazon success
At its start in 1995, Amazon was among the websites selling books. In only one month, it spread the purchases throughout 40 countries of the world. The latest reports of 2017 showed that the company has become one of the most successful and largest e-commerce sale companies in the USA with over 44% of overall sales.
Such tremendous success motivates owners of other smaller or bigger companies and businesses to seek and find the core reasons of why Amazon turned out to be so prosperous and how to reach the similar results. Many analytics have been researching the principles and actions that brought Amazon to the stage it is on, keeping up the track of the latest facts showing up on the web, including the annual public letters by its CEO Jeff Bezos to shareholders. Different researches reveal that Amazon follows the principles that at first glance are primitive, but it is clear that each of them hides a hard work, strong strategies and no less strong teams who follow them. There’s nothing surprising that the tops could spend years learning what it takes to complete a great job on the road to the bigger results.
Jeff Bezos, one of the richest men on the planet, shared the strategies and the tips on how to run the company to lead it to the success just like in the Amazon case. Being one of the most customer-centric companies in the world, Amazon gives people the first priority, be it an employee or a client.
In his letter to shareowners in 2018, CEO, first of all, thanked to each out of 560,000 Amazonians coming to their work places each day being obsessed by the customer’s needs and those who share their responses to the annual American Customer Satisfaction Index survey, which made Amazon number one client-oriented company. Teamwork in his eyes is a valuable thing that is far more important than some specific skills, while there’s always someone in the team who knows how to do anything on the highest level.
The strategies Jeff Bezos recently demonstrated include the high standards, the expectations, and involvement into the world of those people you are providing your services to.
According to Bezos, high standards are of great importance and they are teachable indeed. Anyone can adapt to any environment whether it has a positive or negative impact on personality. Adjustment to the climate and ethic in the work sphere is always possible as people tend to mimic each others’ behavior. In the cases when the person has the so-called blind spots, Bezos suggests having a teamwork discussion that reveals the strong points in each responsibility by making the list of them all. This will help all participants understand what personal standards shall be improved in this or that area.
Another important thing that by the opinion of CEO helped Amazon succeed were the goals set up clearly and in the realistic way, which meant they realized what they can or cannot achieve. It is very important to understand how much work it can possibly take to achieve the quality the company is aiming at. The expectations, he says, must be down-to-earth.
The third strategy concept by Jeff Bezos says that the company shall always be involved into the life’s of people they’re serving. Whatever high position you get, there always shall be a place for a client, you’re selling the product or provide the service to. As Bezos says, he keeps on checking emails from the clients to Amazon, which helps him understand the needs or even pain of the customers. He distinguishes two things like what customers say and what competitors do. According to him, the first thing is much more important for success of any business. He also sees the difference between the customer’s feedback and the data of the company.
While the leadership forum taking place in April, 2018, Bezos uttered that: “When the anecdotes and data disagree, the anecdotes are usually right.” He has always been focusing more on what people, their needs, and opinions rather than on anything else. It has a lot to do also with the people Amazon recruits according to the high standard, because they say that each person is the average of five people you spend time with more frequently. When you work in the team with the strong background, skills, and the clear direction, you become similar to them. With the current personal fortune of $120 billion or so, Jeff Bezos wouldn’t get alone to the point he is at now without the team he created.
Of course, these three are only the basic strategies. Some researchers of the Amazon success see other significant details that contributed to the prosperity of the company, including innovations, incredible customer service with the overnight delivery, as well as a big number of SKU’s. However, nothing from the list wouldn’t be possible without the three key strategies.