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Amazon.com Mission and Vision revision.Analyse the current state and provide recommendations.

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Amazon.com Redefining its Mission & Vision

Amazon.comRedefining its Mission & Vision IntroductionAmazon.coms is Seattle, Washington based online retail store with annual revenue of $74B (2012). The company was founded in July 1995 by Jeff Bezos. Amazon.com released its IPO (AMZN) in May 1997 and it is traded on NASDAQ.As of December 31,2013 Amazon.com has 117300 strong work force.The company sells to all 50 states in USA and to 45 countries. (Amazon.com, 2013)

Products & ServicesSells thirds party products online on percentage basis.It has wide product spectrum, which ranges from books, movies to kids products and even extending to automotive and industrial parts.Provides e-commerce platform to many merchants and to individual sellers.In house products: Ebooks, tablet, phone, entertainment content.

Existing Mission StatementTo be Earths most customer-centric company where people can find anything they want to buy online.Key StakeholdersFollowing are the key stakeholders, arranged according the weightage:

CustomersEmployeesShareholders

What Is Wrong?There is nothing wrong with the mission statement of the company, but the vision of achieving is quite blurry. Let us see why?Widely spread and over extended range of services.Their profit margins are thin but the company is growing its products, services and customer base.Absence of surplus cash, exposes the company to market fluctuationsExistential threat to company from competitors

Looking at the following figures it can be concluded that Amazon.com is focused more on market acquisition.

How Can We Fix It?Focus on high profit margin products and servicesDevelop cushion of surplus cashLet the business matureIncrease in content base business as compared to percentage base. Just like Netflix.Develop ecosystem amazon.com family of productsDevelop programs focussing loyal customer base.

Example to support our ArgumentNetflix example

Customer LoyaltyThere is no guaranteed recipe of success in any business but customers returning to the business, improve the chances of making one.Providing incentive to use additional amazon.com service, give rich customer experince and binds customer to businessRevised Mission StatementAmazon.com, building trust by providing quality product and services now and foreverExistential value: the value lies in existence of the companySocial Responsibility: Maintaining healthy market competition and providing the customer options to choose from.Economic Values: Competition keeps prices in check.

Value of New Mission StatementReferencesO'Rourke, J. S. IV (2013). Management Communications A Case Analysis Approach,Fifth Edition.Prentice Hall, (73-79).

Amazon.com. (2014) Annual Report of the Amazon.com. Retrieved December 9, 2014, from http://phx.corporate ir.net/phoenix.zhtml?c=97664&p=irol-irhome

Amazon.com Overview. (2013, June 1). Retrieved December 9, 2014, from http://phx.corporate-ir.net/phoenix.zhtml?c=176060&p=irol-mediaKit

Mudambi, S. M., & Schuff, D. (2010). What Makes a Helpful Online Review? A Study of Review on Amazon.com. MIS Quarterly, 34(1), 185-200

Price, R. I. (2013). Cash flows at Amazon.com. Issues in Accounting Education, (2), 353.

Donici, A. N., Maha, A., Ignat, I., & Maha, L. (2012). E-Commerce across United States of America: Amazon.com. Economy Transdisciplinarity Cognition, 15(1), 252-258.

Ratnasingam, P. (2006). A SWOT Analysis for B2C E-commerce: The Case of Amazon.com. International Journal of Cases on Electronic Commerce, (1), 1.