Critical Analysis of the Entrepreneurial Narrative of Amazon.com (Research Paper Sample)
This assignment is a research based, student led assignment. You are expected to collect reliable data and relevant information about the industry and the digital business that you are studying, review the relevant literatures and analyze the information you collected in the light of your literature review to produce an informative and coherent case studysource..
An Assignment On Innovation and Entrepreneurship
Table of Contents TOC \o "1-3" \h \z \u Component One: A case study PAGEREF _Toc124065117 \h 3Section 1: Critical Analysis of the Entrepreneurial Narrative of Amazon.com PAGEREF _Toc124065118 \h 3Section 2: Business Environment Analysis of Amazon.com PAGEREF _Toc124065119 \h 4External Environment Analysis PAGEREF _Toc124065120 \h 4Micro-Environment Analysis PAGEREF _Toc124065121 \h 6Section 3: Description and Critical Assessment of Amazon’s Business Plan PAGEREF _Toc124065122 \h 6Section 4: Key Insights PAGEREF _Toc124065123 \h 8Component Two: The Reflective Statements PAGEREF _Toc124065124 \h 9Section 1: Reflection on Diverse Learning Experiences PAGEREF _Toc124065125 \h 9Section 2: Reflection on Implementing Successful Teamwork PAGEREF _Toc124065126 \h 10Section 3: Reflection on Learning from Constructive Feedback PAGEREF _Toc124065127 \h 11References PAGEREF _Toc124065128 \h 13Appendices PAGEREF _Toc124065129 \h 19
Component One: A case study
Section 1: Critical Analysis of the Entrepreneurial Narrative of Amazon.com
Amazon is among the largest online retailer in the world, with its co-founder, Jeff Bezos, who has an estimated $142 billion net worth (Collins et al., 2021). The global business started as a ting start-up firm launched by Bezos using a second-hand computer from his garage. Currently, the company accounts for about one-third of the US s e-commerce sales, employing about 600,000 people and above all over the world, and it owns other big names such as IMDB, Zappos, LOVEFILM and Woot (Ibrahim, 2022). The Amazon company also owns its film and TV studios and publishing firm such as Amazon Publishing. It also produces other famous consumer electronic goods such as Fire TVs, Fire tablets, kindle e-readers and echo devices (Yadav, 2019). Amazon is also the largest producer of cloud infrastructure in the world due to its AWS subsidiary and it also sells other low-end basic products as its main in-house brand products (Hoppner, 2022).
Bezos founded Amazon.com in 1994 after he left his position at Wall Street Investment and management firm as a vice president (Osland, 2020). He drew up the business plan for Amazon.com after realizing that he should get on board with the internet boom growth. Originally, the idea was to launch the online book store (Lisdorf, 2021). The growth of Amazon started in 1995 after selling its first book and its increasingly sold books in 50 US states, and it also exported to 45 other countries; by the end of 1995, Amazon sales totaled about $ 20,000 per week (Taulli,2022). Amazon has continuously survived and expanded during hard economic times during the increased growth of e-commerce start-ups in the 21st century (Bhalekar, 2020). A focus on customer-centric has supported their growth to ensure that they make customer satisfaction. The company has therefore built a significant reputation concerning its online customer experiences, transparency and trust in online shopping (Yudina & Balashov, 2022).
Amazon has also put significant efforts in support of tech advances; it was the first e-commerce company to display product reviews that supported brand transparency (Nougarahiya et al., 2021). Amazon is also the top leader in cross-selling in the online business markets. Like the online reviews aspect, this is among the standard practice in modern e-commerce, but the Amazon company pioneered the real-time products recommendation engine (Bilen, 2020). The company has also enhanced the streamlined checkout experiences and this it is easy for all customers to search and buy various products with the support of features such as "one-click shopping". Among the major strengths of Amazon's growth is the ability to present business models that provide unprecedented customer services and seamlessly combine distribution and purchasing arms (Banerjee, 2019). Amazon company also provides customer services for its various kindle products by adding buttons such as "Mayday" to its kindle fire tablets and the user's experience of 24/7 live customer supports (De Jong, 2022). The company's specialist team is also talented. Their main focus is to continuously analyze the customer's search habits, which is aimed at providing the customers with a wider selection of products they are most interested in purchasing.
Assessing the future of Amazon, among the latest additions to its brand portfolio is the Amazon divisions and Amazon fresh restaurants, which are aimed at capturing the meal and grocery delivery markets (Strauss, 2021). Amazon's strategy, such as the "Prime Pantry", is targeted at getting more people to buy food, snacks and other household supplies with support of the "Dash buttons", which facilitates the one-click order of products (Gupta et al., 2021). One of the main transformations in Amazon is the support of the company's physical and online presence; thus, it has introduced the "Cashier-less Go" convenience stores (Janger & Twerski, 2019). The first stores were opened in 2018 in San Francisco, and it plans to open more Go stores in cities such as Chicago and New York.
Section 2: Business Environment Analysis of Amazon.com
External Environment Analysis
PESTEL is a strategic tool that enables a firm to easily examine its surrounding environment and emphasizes a range of influences affecting a business's macro environment. An analysis of external environment risks encountered by Amazon apart from the competition pressures provides deep insights into the way Amazon will run the business. Politics forms one of the major external
- Marketing and Branding Description: Branding And Marketing, put simply, branding is the identity of a company, and marketing is the tactics and strategies that communicate that vision....2 pages/≈550 words| 4 Sources | APA | Business & Marketing | Research Paper |
- How Coca-Cola Company Used the Balanced Scorecard for Strategic Performance MeasurementDescription: The balanced scorecard is an effective strategic management performance metric applied to improve and identify internal business functions and external outcomes. It is beneficial in providing feedback and measures enabling the management to interpret and gather the necessary information. The obtained...3 pages/≈825 words| 2 Sources | APA | Business & Marketing | Research Paper |
- BUSINESSDescription: BUSINESS Business & Marketing Research Paper...5 pages/≈1375 words| 4 Sources | APA | Business & Marketing | Research Paper |