"If you never want to be criticized, for goodness' sake don't do anything new.” is one of Jeff Bezos’s most famous quotes. Jeff Bezos is one of the biggest self-made billionaires in the world. Jeff Bezos created Amazon, which began as an innovative way to sell books in the most efficient way, has illuminated the world by making an easy way for people to now get any product they desire and funded Blue Origin, which is an innovative way to explore space, illuminating people's lives with knowledge and future possibilities.
Jeff Bezos was one of the world’s best and most accomplished creators with his amazing inventions, Amazon and Blue Origin. He was always a creator throughout his life. When he was young he would tinker and explore with toys and gadgets
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In Jeff’s teen years, he watched the rapid growth of the internet. As he was doing so, he particularly watched the book industry and noticed that no mailing companies were actually selling books. He was always interested in selling books, and he planned to do so from the internet (Schlager, 2005). He then started brainstorming ideas on how to start his company. He built a website that people could go on and order books. Then he and his company could deliver them to their door steps. In his time he not only created the company Amazon, but also designed many new devices and other accessories for the company. These devices include the Kindle series and the Amazon Echo. Because of his interest in technology, he also is supporting and creating space exploration. These explorations are to create living environments in space for people. Jeff Bezos states, "I wish there were a trillion humans in the solar system. Think how cool that would be. You'd have a thousand Einsteins at any given moment and more. There would be so much dynamism with all of that human intelligence. But you can't do that with the resources on Earth or the
The most obvious technological advance that helped Amazon, and the one that launched the company, was the internet (Parnell, 2014). Jeff Bezos knew that he wanted to open an online business and decided to start with a bookstore due to low pricing and an existing worldwide demand (”Amazon.com, Inc. History”, n.d.). After deciding on a model, he chose Seattle as a home for his business due to its proximity to high tech workers and a large book distributor. The website opened with a database of more than one million titles, whereas many competitors only stocked 2,000, and the orders went directly to wholesalers. Amazon quickly expanded their database to 1.5 million books and started offering deep discounts which attracted many new customers.
Amazon was founded in 1995 by Jeff Bezos and became one of the first major companies to sell goods over the internet
Bezos believes in the value of customer satisfaction and this is the Amazon.com main objective. A huge number of measurable goals are used to track the rate of how Amazon performs and wishes to perform. Not surprisingly, an astonishing eighty percent of those goals are related to the satisfaction of the customer. Bezos primarily concern is improving the performance of the organization and customer service. Personnel issues are given secondary importance and attention. As Stone has emphasized (2013), Kim Rachmeler , who worked for Amazon.com for more than a decade, affirm that “This is not somebody who takes pleasure at tearing someone a new a--hole. He is not that kind of person. Jeff doesn’t tolerate
Aside from being CEO of Zappos.com, he is also the co-founder of Link Exchange and the general manager of Venture Frogs, LLC, which is an investment firm that invested in startups like Ask Jeeves, and of course, Zappos.com.
Deutschman, A. (2004, August). Inside The Mind Of Jeff Bezos. Fast Company, 85, 52-58. Retrieved from: http://www.fastcompany.com/50106/inside-mind-jeff-bezos
Jeff Bezo’s began Amazon in his garage in July 1995 with three Sun workstations setting on wooden doors for tables and extension cords running from everywhere (Academy of Achievement, 2010). Right from the beginning he was a visionary leaving his well paying job as a senior vice president with D. E. Shaw to begin Amazon.com (Academy of Achievement, 2010). Being the visionary that he is he saw an opportunity prompted by the huge growth rate of internet use in a single year and ran with it never looking back. Jeff realized that the internet had “no real commerce to speak of” so he began researching possible businesses (Academy of Achievement, 2010). “After reviewing 20 mail order businesses and deciding which could be conducted more efficiently over the internet than by traditional means he decided on books” (Academy of Achievement, 2010). He thought books were perfect because attempting to send huge catalogs for all the available books would be expensive and cumbersome, but an online resource database that was easy to navigate would provide customers with easy access and a single point from which to shop. “In 30 days, with no press, Amazon had sold books in all 50 states and 45 foreign countries, obviously by the success of Amazon he was right (Academy of Achievement, 2010). In a case study written by Javad Kargar called “Amazon.com in 2003” he stated that “Amazon's online store was a big hit, with about $5 million in the first year of operations” (2004). This huge success so quickly would have confirmed for Jeff that his idea was viable and drove him to continue to strive for more. Jeff Bezo’s charismatic-visionary leadership is the key to his and Amazon’s success.
Elon musk is considered visionary entrepreneur, because he is a risk taker and a billionaire entrepreneur. He is CEO of many companies and inspires people to follow their dreams and to maybe be as successful as him. His journey and all his success speaks for itself. His vision for Tesla Motor’s is to produce high efficiency low cost vehicles to reduce gas emission lowering pollution and to move toward a safer renewable world. His main goal is to transition into more sustainable energy and to be less reliant on fossil fuels. Elon is most notorious for his CEO position in Tesla Motors, but he is involved with much more than Tesla. He is involved with SpaceX, The Boring Company, and SolarCity. He is leveraging all aspects of innovation through so many different companies and organizations. Including vehicle production, rocket production, and Hyperloop production. Elon and his team introduce many innovative features to all these different aspects across all levels.
Sergey Brin Co-Founder he shared responsibility for the company’s day-to-day operations with Larry Page and Eric Schmidt .
Jeff Bezos started with an idea to sell books on-line by being able to hold more books than any other brick-and-mortar store. The first mover advantage that Amazon gained has not let up since. Amazon has created customer loyalty through the use of 360 degree customer profiles and product recommendation system. Furthermore, Amazon has allowed access to big data for a monthly fee and created a web store for businesses saving on huge investments in development for a commission on sales. Big data is constantly evolving and Amazon is ahead of the curve with the application and analytics of big
Launched by Jeff Bezos, the Amazon.com website started in 1995 and is today considered as one of the most prominent retail website on the internet with a record turnover of US$ 14.87 billion in 2007. Jeff Bezos’s intention was to create an internet based company with the most dedicated product portfolio on the internet where customers could find anything they might want. Amazon’s success is based on technology, services and products (Jens et al., 2003).
When Amazon.com first began in 1995, as strictly a book retailer, Bezos knew he had discovered an excellent company. After all, a physical bookstore cannot stock anywhere close to the number of books Amazon can offer online. Within a year, the company had a customer base of approximately 340,000 consumers and daily site visits were huge as well. But Bezos wanted to expand the company to offer music and DVDs, because he realized there was little or no barrier of entry. In the next years Amazon would emerge as a marketplace, expanding the company globally offering products from toys to kitchenware. Because of the relatively cheap prices Amazon was offering and also the growing number of online shoppers, the company was doing tremendous amounts of sales and creating profits.
In 1990, he joined D.E. Shaw and Company. He helped the company build the most technically advanced hedge funds on Wall Street. He eventually went from being a computer expert to a money manager, and became the company's youngest vice president. In 1994, Jeff read a statistic that said the Internet was growing at a rate of 2300% per year. He decided to leave D.E. Shaw and Company to form Amazon.com, which he named after the seemingly endless South American River.
Looking at Bezos’s business model from an entrepreneurial standpoint is very interesting. He decided to take a very unique approach to business and in doing so he took some big risks to get where he is today. For a company like Amazon that is constantly pushing the boundaries and moving into new territory one could do a SWAT analysis for nearly every year they have been in business and it would look drastically different. For now I want to retrospectively focus on the initial plan that Bezos laid out and strengths, weaknesses, opportunities, and threats that came with it.
Amazon is a growing and trending brand, giving consumers the unique shopping experience they have always wanted. The company that was started by 1999 man of the year, Jeff Bezos, has taken 44 percent market share in online sales and purchases. (http://bloomreach.com/2015/10/survey-amazon-is-burying-the-competiton-in-search/) That makes consumers more inclined to search for products through Amazon, before the well-known search engine powerhouse, Google. The Seattle, Washington based company was started in 1995. During the well-anticipated start-up, the company’s focus was on book sales online. Over time, Amazon has set many trends in Consumer Behavior, expanding products across every product pool imaginable. "Amazon.com puts the customer
Jeffrey Bezos, the founder and current CEO of Amazon.com, initially started the company as an online bookstore in 1994. Within several months, Amazon spread its operation to all 50 states and abroad. Presently, customers from over 45 countries buy at Amazon. Over a short period of time, the company expanded sales to electronics, video games, software, CDs, DVDs, MP3 downloads, food, furniture, apparel, jewelry, and toys. Today, the company even produces its own products such as the Kindle series. Also, Amazon.com is one of the major providers of cloud computing services. Currently, the company is the largest global online retailer responsible for 20% of online retail market share.