Company Basics
Name: Amazon
Location: Seattle, Washington
Industry: Online retailer
Brief Overview: Amazon is an online retailer and web service provider offering a wide range of products, including apparel, electronics, beauty, health, and sports goods. It also provides support services like home delivery and shipping. Amazon also manufactures electric devices like kindle e-readers and fire-tablets, and allows authors, musicians, and filmmakers to publish and sell content.
Scarcity and Supply & Demand
How the company manages scarcity: they suggest that there’s only a small amount left by saying, “almost out of stock” or “limited availability”. This encourages customers to get the item before the product is gone.
Response to supply and demand fluctuations: they can accurately predict the demand and synchronizing production and inventory to mitigates the ripple effect of demand fluctuations through the supply chain. This technique helps the supply chain minimize excess inventory and stock outs.
Market Analysis
Target Market: They try to target millennials, urban dwellers, and value-conscious shoppers.
Competition: Target Walmart, Best Buy, and Costco are their biggest competitors.
Market Trends: They have Generative A.I., ads on trucks/cars, and ads on billboards/online.
Business Plan
Mission: Amazons biggest mission is being earths most customer-centric company, best employer, and safest place to work.
Vision: For customers to find and discover anything they might need or want to buy online, and endeavors to offer its customers the lowest possible prices.
Goals: Their goals is to be powered by 100% renewable energy by 2025 and achieve net-zero carbon emissions across the entire business by 2040.
Leadership & Management
Leadership Style: Their leadership style is Pragmatist which sets high standards and unapologetically expect those standards to be the met by themselves and by their employees.
Key Figures and Roles: the top 5 officers of amazon are Jeffrey P. Bezos as the executive chair, Andy Jassy as the president and chief executive officer, Brian T. Olsavsky as senior vice president and chief financial officer, Douglas J. Herrington as Chief executive officer, worldwide amazon stores, and Shelly L. Reynolds’s as vice president, worldwide controller.
Career Readiness
Job Opportunities:
Training and Development:
Marketing
Marketing Strategies: Amazon uses a multitude of strategies to promote themselves like, ads on popular social medias, billboards, video marketing, sponsored brand ads, and email marketing.
Marketing Campaigns: They have 3 different types of marketing campaigns which include, sponsored product ads, sponsored brands, and product display ads.
Technology in Business
Use of Technology: they leverage data and machine learning to provide personalized product recommendations, enhancing the customers shopping experience.
Business Finances
Financial Performance: amazon reported earning results for the first quarter ended March 31st, 2024. For the 1st quarter, the company reported revenue was USD 143,313 million compared to USD 127,358 million a year ago. Their net income was USD 10,431 million compared to USD 3,172 million a year ago.
Stock over 5 years: The start of May 2019 a stock for amazon was $94.50, once covid started up it increased to $188.19, it stayed around $150 to $165 till it dropped severely in May of 2022, and it got down to $90.73 in 2023, its been slowly rising to one of its highest points going to $180 in 2024.
Business Structure
Description and Impact: Amazons organizational structure is predominantly hierarchical with a global hierarchy in place. At the top of the company’s hierarchy chart sits senior management team, which includes 3 CEOs and 3 senior vice presidents. The impact it has on Amazon is it has clear communication and accountability, focuses on specific target markets, has agile responses to market shifts, and it has a customer centric culture.
Global Presence
International Operations: Amazon operates in 20 countries with some of them being Canada, Brazil, Germany, Japan, Mexico, etc.
