Introduction
Amazon focuses on e-commerce, cloud computing and artificial intelligence. Amazon is widely known for selling and delivering goods over the Internet and is the largest retail company by market capitalization. Amazon’s success story is an open book for those who want to learn from the growth of a profitable and innovative multinational corporation. Therefore, it is important to identify the main services of the company and determine what its success is based on.
The History of Amazon
The history of Amazon started with the wish of Jeff Bezos, who left highly paid job, to launch a business. The future founder of the largest company worked in a hedge fund, where he was deputy prime minister and had a good stable income. Bezos’ idea was to create a store that sells any goods. But there were many obstacles on the way to the goal: the future entrepreneur lacked funds, investments and experience. Jeffrey started his new activity by creating his own website. He planned to sell everything, but decided to focus on 20 areas, primarily books (Rikap, 2022). Among the goods that could be sold well over the Internet, he attributed office supplies, computer software, movies and music.
Stakeholders Influence
In general, there are two types of project stakeholders: internal and external. Internal stakeholders are those whom you usually consider to be project participants. This category includes all employees of the company involved in the project — from one’s direct subordinates to senior management (Liberty et al., 2020). On the other hand, external stakeholders are not part of your organization. These can be clients, an agency or contractor, users, investors, suppliers, and other external contractors. If we consider investors, they can increase the company’s income by investing in it. In addition, investors can stage a reduction of the company. The management, being an internal stakeholder, can actually reduce employees or change the concept of the company, which will also affect the financial part.
The Most Significant Characteristics of an Organization
Each organization differs from the others in various aspects (Liberty et al., 2020). Key features of a company are an inseparable attachment to the external and internal environment (Liberty et al., 2020). The success of an organization can be influenced by factors such as competitiveness in the market and the economic situation in the country. If there is no or little alternative in the chosen niche, the success of the organization will be achieved faster. The favorable economic situation in the country has a good effect on the development of the company. For example, the absence of crisis and inflation gives the company the opportunity to develop fully.
Organization Missed Opportunity
Dash Button buttons made it easy to order consumable products on Amazon. To do this, it was necessary to link any product and its required quantity to the button. To place an order, just click on it. The device could be attached to a cabinet or to a washing machine. This year Amazon stopped selling Dash Button (Berg & Knights, 2021). The product was a phenomenal success, because thanks to it, customers could make purchases without using screen devices. As a result, the rash act of curtailing this new technology had a negative impact on the company. The curtailment of this function caused a wave of indignation among customers and the company’s revenue significantly decreased.
Conclusion
In conclusion, established business empire Amazon has no precedent in the history of American entrepreneurship. The company is at the forefront of endless changes in customer service and technological advances. As a result, Amazon has a constant upward trajectory, and its dominance in the e–commerce arena does not weaken. Amazon is not only an online shopping site, but also much more: one of the most influential economic and cultural forces in the world.
References
Berg, N., & Knights, M. (2021). Amazon: How the world’s most relentless retailer will continue to revolutionize commerce. Kogan Page Publishers.
Liberty, E., Karnin, Z., Xiang, B., Rouesnel, L., Coskun, B., Nallapati, R., & Smola, A. (2020). Elastic machine learning algorithms in amazon sagemaker. In Proceedings of the 2020 ACM SIGMOD International Conference on Management of Data, 731-737. Web.
Rikap, C. (2022). Amazon: A story of accumulation through intellectual rentiership and predation. Competition & Change, 26(3-4), 436-466. Web.