Amazon Inc. is one of the most successful companies in the modern world. Besides its famous website that sells different products in many countries, this for-profit organization is focused on other fields, such as cloud computing, artificial intelligence, online advertising, and e-commerce. Amazon owns many other companies, including Whole Foods Market, Twitch, IMDb, Audible, and Ring. The influence of this company on the global market is already phenomenal and will only increase with time. However, it is clear that such massive companies as Amazon face many difficulties on their way.
Amazon’s headquarters are located in Seattle, Washington, and Arlington, Virginia. The organization was founded by the CEO of the company Jeff Bezos. There are five more officers besides Bezos: president A. Jassy, vice president S. Reynolds, senior vice presidents B. Olsavsky and D. Zapolsky, and chief executive officers D. Herrington and A. Selipsky. Amazon occupies many countries spreading its services every year, including four American, seven Asian, and nine European countries, Egypt, and Australia. Amazon’s mission statement is “to serve consumers through online and physical stores and focus on selection, price, and convenience” (Amazon). There are four principles that guide the company, such as “a passion for invention, long-term thinking, commitment to operational excellence, and customer obsession rather than competitor focus” (Amazon).
Over the last semester, the stocks of the company, Amazon Care, the Lay Off of workers, and its hiring process topics were covered in the recent media about Amazon. Amazon Inc. decided to lay off about ten thousand employees, which is around three percent of its corporate workers and less than one percent of Amazon’s global team (Weise). However, this retrenchment was provoked by a precarious economy and business model change in the tech industry. Meta, Twitter, and many other companies were forced to lay off thousands of employees because of the situation. According to the news, these events changed Amazon’s hiring system as the company paused the hiring process for months. Because of inflation, disappointing earnings updates, and other issues, Amazon became the first company in the world to lose a trillion dollars in market value (Patnaik et al.). As a result, the company’s stocks sank thirteen percent after the issues Amazon faced this semester (Palmer). All these events changed the company’s future and its perspectives and goals.
Amazon provides press releases on its website, usually in large quantities. Most of these press releases cover the company’s announcements, plans, and their products’ new capabilities. However, these press releases do not have video or audio elements in them. The organization does not have the press kits and the media contacts in the face of the particular person. Amazon’s corporate purpose is to be the most customer-centric company, the safest workplace, and the best employer on Earth. The company provides many initiatives and programs related to CSR, such as supporting local communities, gender equality, waste reduction, and carbon emissions. Amazon is “the world’s largest corporate purchaser of renewable energy and is on a path to powering its operations with 100% renewable energy by 2025” (Amazon). Its sustainability efforts are related to UN Sustainable Development Goals because it is about clean and affordable energy.
Amazon is present on many social media platforms, including Instagram, Youtube, Twitter, and Facebook. The company usually posts once a day but not every day, using videos and pictures combined with texts. There are millions of followers on its pages, and many fans of Amazon talk about their affection for the company in the comments of their posts and their own reviews. Amazon uses different types of influencers to promote its platform, including large and small-audience blogs. The social media Amazon uses the most classic and fundamental social media platforms with the most significant number of users. That helps the company to stay competitive and look solid without chasing every modern trend.
To conclude, Amazon is one of the most influential and growing companies in the modern world. However, many aspects have a significant impact on its sales and market value. Even though 2022 is not the luckiest year for the company, it still has many perspectives in the future. The strategy that Amazon preaches about being the most client-centric company is the key to its ability to stay afloat even in the most complicated situations.
Works Cited
Amazon.com Inc., 1996, Web.
Palmer, Annie. “Amazon Stock Sinks 13% On Weak Fourth-Quarter Guidance.” CNBC, Web.
Patnaik, Subrat & Wittenstein, Jeran. “Amazon Becomes World’s First Public Company to Lose $1 Trillion in Market Value.” Bloomberg, 2022, Web.
Weise, Karen. “Amazon Is Said to Plan to Lay Off Thousands of Employees.” The New York Times, 2022, Web.