JeffBezos is the sole creator of Amazon.com and it all started in his garage as abookstore (Jeff Bezos, 2008). The first year of business Bezos and fiveemployees worked in the garage, setting up a computer system that would makeAmazon.com easy to navigate. He wanted this online bookstore to beuser-friendly.
He created multiple innovative programs which would establish avirtual community. One of these programs would let customers write a review onthe site about the book they read and a feature was also created so thatcustomers could see books that would be recommended to them based on theirprevious purchases (Jeff Bezos, 2008). Amazon.com was open to the world in1995, becoming the world’s largest book store with over one million titles topick from (Jeff Bezos, 2008). From there Amazon.
com has blossomed into thelargest internet retailer on the planet (Jeff Bezos, 2008). Amazon.com, Inc. is the most widelyknown, used, and cited market on the web offering more than 4.7 million books,music CD, video, DVD, computer games, and other retail (Hartmans, 2017). Thiscompany offers a great shopping experience by providing a high level ofcustomer service.
Over and over again Amazon has proven to be the leader oftechnology by adding several features such as 1-Click ordering, personalizedshopping service, and easy-to-use searches (Hartmans, 2017). This company is afast and secure company. Amazon offers a simple ordering system, secures creditcard transactions, email communication with customers and direct worldwideshipping (Hartmans, 2017).
Amazonlaunched Amazon Prime in February of 2005 (About Amazon Prime, n.d.). It wascreated to bring in more money to the company.
It is a shipping membershipprogram for over a million different products (About Amazon Prime, n.d.). Thevision for this membership is fast delivery for an everyday experience.
Amazonprime introduced three things: two-day shipping, two-day shipping guaranteed,and it is unlimited with just a single membership (Amazon Prime, 2017). The companyfrom there extended their features for customers that had an Amazon Primemembership. Customers could now stream movies, TV shows, and music among otherthings (What is Prime Video?, 2018). The latest feature is Prime Video wherecustomers in the United States and Puerto Rico can have access to thousands ofPrime Video titles at no additional cost (What is Prime Video?, 2018).
Amazon.com, Inc. vision statementstates that the company wants “To be Earth’s most customer-centric companywhere customers can find and discover anything they might want to buy online (Gregory,2017).” To put into simpler terms this company wants to be the best e-commercecompany in the world. The three characterizes they emphasize in the visionstatement are: global reach, customer prioritization, and widest selection ofproducts (Gregory, 2017). The company’s mission statement states “We strive tooffer customers the lowest possible prices, the best available selection, andthe utmost convenience (Gregory, 2017).
” Amazons vision statement is verystrong because of the characteristic, but amazon needs to broaden the scope ofbusiness in the aspect of its new feature of Prime Video. This company wants tohave everything basically within a click away but the new feature doesn’t offerthat. This feature is not expanding to the noted “best available selection”because they aren’t offering more than videos and TV shows.
The companies vision and missionstatements have led this organization to reaching its successful state. Inlight of the vision statement Amazon needs to broaden its scope of business inthe aspect of their new Prime Video feature. Prime membership right now is onlybeing offered to members that are in the United States and Puerto Ricco (Gregory,2017). Expanding this feature to members outside of the two areas would bebeneficial. Prime Video is only offering a few things and amazons missionsstatement wants the company to have the best available selection and ateveryone’s convenience. This company can make this new feature great to allmembers and that will increase revenue.
The components of the strategic managementprocess that must be analyzed in this new strategy are environmental scanning,strategy formulation, implementation of new strategy, and evaluate implementedstrategy (Hunger & Wheelen, 2011). Environmental scanning of the internaland external environment to collect information on other companies that providea video feature but have expanded their consumers outside of the US and PuertoRico. Providing more options besides just streaming videos, such as livestreaming majority of sporting events, political speeches, etc.
Strategyformulation is deciding what the best route to take in order to accomplish thisgoal of expanding (MSG Management Study Guide, n.d.). A SWOT analysisand SFAS Matrix are both used to evaluate strengths and weaknesses (Hunger , 2011). Identifying the strengths and weaknesses of expanding the PrimeVideo feature and determining the benefits of it. Implementation of the newstrategy is the key to making this new strategy come alive.
Once this newstrategy is in play it must be evaluated to make sure it is running smoothly orto see what minor issues can be fixed in order for the plan to be implementedcorrectly. The outcomes of this new strategycan be very beneficial for the company. The decision makers have the final sayto the course of action that will be followed to implement the new strategy.The outcome of this strategy will look good on the leaders in this organizationbecause in turn it increases the revenue for the organization. Every companywants to make more money and become the best.
Amazon.com is well on their wayto becoming the best. Amazon.com, Inc.
stakeholders would benefit due to thefact of broadening the Prime Video feature to other countries. Stakeholders indifferent countries could have more options to watch what is going on in otherparts of the world. Being able to view more things that they are interested in throughthe internet will bring in more members.
Amazon is a one of the wealthiestorganizations in today’s world. It all started from an online bookstore inBezos garage to a multimillion-dollar e-commerce corporation. Amazon couldbring in more money just by adding more to their Prime Video feature andbroadening membership for that feature to more than just the United States andPuerto Rico.
Creating a strategic plan and implementing that plan could bebeneficial to the stakeholders and leaders in this company.