Introduction
As someone who can be classified as a keen observer, people can rely on Jeff Bezos’s experiences to learn from his history and success. Amazon’s approach to success demonstrates that Jeff Bezos is a methodical and intuitive thinker. The case study vividly demonstrates that Amazon began as a two-bedroom enterprise that expanded to become a global E-Commerce behemoth. Intuitive and methodical reasoning allows the business owner to do things correctly, including paying attention to details, learning from past failures, and introducing improvements to the organization when needed (Schermerhorn & Bachrach, 2016). Jeff Bezos’s methodical thinking skills help solve problems by understanding them first and then devising a strategy.
When the proprietor of Amazon wanted to enhance the things that his firm creates and sells consistently, he used systematic thinking. As the market in which Amazon operated evolved, Jeff made adjustments to his product portfolio. He is not afraid of failing as a leader since he always invests in all of his businesses, allowing them to expand rather than stagnate. Another example of systematic thinking is when Bezos leveraged new technology, specifically drones, to ease deliveries to his Amazon clients. He thought outside the box and ensured that his clients could see his dedication to completing orders on time and efficiently. Jeff Bezos has used systematic and intuitive thinking to gain a competitive edge over his market competitors, making it difficult for any other firm to overtake him as the e-commerce industry’s market leader (Schermerhorn & Bachrach, 2016). He thinks intuitively because his ideas are always original and timely, such as when he used technology to revolutionize the Washington Post.
Decision-Making and Innovation
Amazon is currently the world’s largest online retailer, but it faces stiff competition from established companies such as Netflix, Apple, and Google when it comes to digital entertainment. Jeff is an insightful and methodical thinker who can utilize his intuition to become the world’s leading provider of digital entertainment. Amazon needs to invest in technology and create more digital content streams to deliver a wider range of digital entertainment alternatives to its customers. The corporation might take a page from Netflix’s playbook, which keeps adding to its digital content so that it does not become obsolete. According to Amazon, customers should also access new digital material at competitive pricing and prompt delivery. Jeff must use technology by devising novel methods to provide his clients with the same digital pleasure while gaining a significant competitive edge (Schermerhorn & Bachrach, 2016). Rather than investing in distribution facilities right now, Amazon should invest in a digital content stream to supply a vast selection of digital material to its customers quickly. Such a decision can enable Amazon to compete successfully with established competitors like Netflix and Google.
Bezos as a Decision Maker
Amazon Prime and Amazon Student Prime are two of Amazon’s most recent ventures. Customers may obtain free two-day shipping with an Amazon Prime subscription.
Amazon offers same-day shipping, instant video, movie, television, and music streaming with a Prime subscription for most items. One of the most exemplary aspects of Amazon is that it sells items from a variety of wholesalers. Having different wholesalers is advantageous to customers who can search for a certain item, compare the many possibilities, and select the best solution for your needs. Customers will be able to locate the goods they require at the lowest price through price comparison.
Some may consider the cost of an annual prime membership excessive, but it is a reasonable price considering prime benefits for a whole year. Amazon’s student prime is another excellent alternative for college students. Students may get a half-price premier membership with all of the same benefits. The premier membership is ideal for students, especially those who do a lot of online shopping, because they get a lower membership fee with the same benefits as normal Amazon prime members. Amazon provides a vast assortment of items generally always in stock, making shopping easier than going from store to store.
What’s Next?
Yes, Jeff Bezos is making the correct decisions since he has a strategic goal in mind that can be attained by achieving smaller goals. Meeting all of the sub-goals will improve the customer experience. Amazon’s revenue streams are growing exponentially, demonstrating that Jeff Bezos and his company are on the right road. Jeff’s primary goal, in my opinion, is to provide excellent customer service to all of his buyers to increase customer retention and repeat purchases. Jeff is focusing on establishing a loyal client base that will help the business in the long run.
Jeff Bezos uses his ingenuity and adaptability to make strategic decisions as a leader. Rather than investing his riches in his personal life, he continued to invest in his company to improve it and make it a competitive market rival (Schermerhorn & Bachrach, 2016). Jeff Bezos is pictured working toward fulfilling a new strategic goal after achieving one of his previous ones. As a smart and intuitive thinker, he consistently refreshes and expands his product and service offerings to his final consumers. Jeff Bezos’s right decisions have enabled him to lead the company through today’s different business and managerial difficulties.
Reference
Schermerhorn J.R. & Bachrach, D.G. (2016) Amazon.com—Keeping the Fire Hot”. In Exploring Management (Cases for Critical Thinking).