Amazon.com

When Amazon first went public in 1997, its stock price was just $18 per share. Now the stock price has gone up to $2,647 per share as of 10 June 2020. That is more than 146% growth. Amazon became the second company after Apple to hit $1 trillion in market value in 2018. The founder and CEO of Amazon Jeff Bezos is the richest person in the world with a net worth of $147 billion in 2020 1 . From the humble beginnings to global domination, there are some lessons that we can learn from Amazon. Have long-term thinking . Amazon Web Service business was launched 14 years ago. But Amazon Web Service just started generating a major company’s operating income since 2016. Amazon didn’t give up o -things easily.   Another example of Amazon’s long-term thinking is Amazon Prime that was launched in 2005.   In the beginning, people wondered how the company would make the $79 annual membership fee attract customers. A few years later, Amazon Prime memberships started growing. As of 2019, there are 1

Millions of people around the world know Amazon as a “selling everything” store. Besides online retail, Amazon also operates cloud computing (Amazon AWS), movie production (Amazon Video), music distribution (Amazon Music), print publishing (Amazon Kindle), organic groceries (Amazon Fresh), personal electronics (Amazon Echo Fire) and so on. Amazon also has over 40 subsidiaries, such as Zappos, Whole Food, Audible, etc. Amazon is considered one of the Big Four technology companies, along with Google, Apple, and Microsoft.  In 2018, Amazon became a one trillion-dollar company. Amazon is the most valuable company across the world in 2019 1 .  Amazon's annual net income for 2019 was $11.588 Billion, a 15.04% increase from 2018 and a 281.80% from 2016 2 . What is driving the rapid net income growth? How does Amazon make money? Amazon divides its business into three segments: North America, International, and AWS 3 . The first two segments, North America and International refer to Amazo

Amazon that was founded by Jeff Bezos is a very successful e-commerce website where people can buy anything they want and also gives more than they need. What are the advantages that Amazon has compared to the competitors? Amazon focuses more on customers than its competitors. Amazon provides excellent service and fast delivery. For instance, Amazon offers free delivery within two days or even same-day delivery for Amazon Prime members. Additionally, Amazon focuses on value-adding for customers, such as user-contributed reviews system, similar suggestions, automated communication system. Amazon also makes it more convenient for customers to navigate. Amazon not only has a massive selection for all customers, but more importantly, Amazon always keeps the price low. The goal is building loyalty, even if it means sacrificing profit today 1 . Most importantly, data is one of the reasons that Amazon has such an advantage. The power of the data is giving information and insights. There a

Amazon is a big name in the e-commerce and retailing industry. People can buy anything they want on Amazon. A successful business must have a clear business strategy to attract customers and to achieve company goals. Amazon is putting the customer at the center of the universe, investing, and focused on long-term thinking.   “We see our customers as invited guests to a party, and we are the hosts. It’s our job every day to make every important aspect of the customer experience a little bit better.” Jeff Bezos said 1 . Also, from Amazon’s mission that to be Earth’s most customer-centric company, it is easy to tell that Amazon is a customer-centric business. A large majority of customers (89%) are more likely to buy products from Amazon than other e-commerce sites 2 .   One of the reasons is Amazon offers the most extensive selection of products, which allows customers to get everything within Amazon. Another reason is Amazon makes it so convenient for customers to shop at Amazon with