Jeff Bezos continues to take Amazon in the lead of e-commerce and surpass their competition through investment in services that are integral in reaching their strategic goals of enhancing the customer experience. In 2016, Bezos announced his focus on Amazon’s fulfillment service and Prime, a membership subscription for customers (Kang, 2016). Amazon has invested in the construction of eighteen new fulfillment centers to meet the demands of increased membership subscriptions through Prime, which enables customers to shop more frequently without the added concern of shipping fees, and be able to respond efficiently during the holiday season. According to Levy (2017), Amazon chief financial officer (CFO), Brain Olsavsky, noted that a large percentage of Amazon’s fulfillment center expansion occurred in the latter half of 2016, which is where we see an increase in capital expenditures and investments (Nasdaq, 2019), and with further expansion goals for the last quarter of 2017 and moving into the new year. The company has investment in technological advancements that has allowed them to be efficient in the production and delivery of their products and services, further engagement of more customers, and increased overall satisfaction and ease. The company has released their own electronic devices; Many of their products feature their interactive artificial intelligence (AI), Alexa, and their highly efficient fulfillment warehouses are operated by robots. All these investments in technology has supported their commitment to their customers and mission goals.
What I have learned from Jeff Bezos is his commitment to his customers and upholding Amazon’s mission, “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” (Farfan, 2017). What I have learned is that a strong mission can help guide innovation and growth.
References
Farfan, B. (2017). Amazon.com’s mission statement. the balance. Retrieved fromhttps://www.thebalance.com/amazon-mission-statement-4068548
Kang, J. (2016). Here’s where Amazon is investing next. TheStreet. Retreived fromhttps://www.thestreet.com/story/13661539/1/here-s-where-amazon-is-investing-next.html
Levy, A. (2017). Amazon.com’s 4 big areas of investment. The Motley Fool. Retrieved from
https://www.fool.com/investing/2017/08/01/amazoncoms-4-big-areas-of-investment.aspx
Nasdaq. (2019). Retrieved from http://www.nasdaq.com/symbol/amzn/financials?query=ratios
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