02 Task Performance 3
02 Task Performance 3
02 Task Performance 3
Amazon, Inc.
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E-commerce Sector
I. Company Description
a. Company History
Amazon.com, Inc. provides online retail shopping services. It provides services to four primary
customer sets: consumers, sellers, enterprises, and content creators. The company also provides
other marketing and promotional services, such as online advertising and co-branded credit card
agreements. It serves consumers through its retail websites with a focus on selection, price, and
convenience. The company was founded in 1994, spurred by what Bezos called his “regret
minimization framework”, which described his efforts to fend off any regrets for not
participating sooner in the Internet business boom during that time. In 1994, Bezos left his
employment as vice-president of D. E. Shaw & Co., a Wall Street firm, and moved to Seattle. He
began to work on a business plan for what would eventually become Amazon.com. After reading
a report about the future of the Internet which projected annual Web commerce growth at
2,300%, Bezos created a list of 20 products which could be marketed online. In the first two
months of business, Amazon sold to all 50 states and over 45 countries. Within two months,
Amazon’s sales were up to $20,000/week. While the largest brick and mortar bookstores and
mail order catalogs might offer 200,000 titles, an online bookstore could “carry” several times
more, since they had an almost unlimited virtual (not actual) warehouse: those of the actual
product makers/suppliers.
Vision
“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.
Mission
“serve consumers through online and physical stores and focus on selection, price, and
convenience.”
Objective
The retailer marketing customer obsession rather than competitor focus, passion for invention,
commitment to operational excellence and long-term thinking. In both their online and physical
locations, the focus is on selection, price and convenience.
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E-commerce Sector
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E-commerce Sector
Reference:
https://www.companieshistory.com/amazon-com/
https://fourweekmba.com/amazon-vision-statement-mission-statement/
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