Corporate Performance Report
1
Introduction and Background of Amazon company
Name: Garry Bray Jr.
Ashford University
Course: BUS401
Instructor: Richard Burke
Date: 19 October 2020
Introduction
Amazon is currently involved in e-commerce operations and aims to improve its increased efficiency to ensure productivity through innovative brands' production. Amazon products include consumer electronics, personal care and health items, scientific and industrial supplies, and beauty products (Neubacher, 2020). Amazon's mission is raising the standards of customers' experience and using advanced technology to ensure that it attracts more customers. The organization competes with some of the famous and largest companies worldwide, such as Otto and Alibaba. Amazon Company is the best to study since it shows commitment to customers by providing world-class services. Furthermore, the company has incorporated platforms that facilitate convenience and simplicity in its online shopping experience (Seagal, 2020). Therefore, the paper discusses Amazon's mission, its current financial condition and business operations, Amazon's competitors, and the main reason why it is an exciting organization to study.
Amazon's Business Mission
Amazons' mission is to ensure that they raise the standards of customers' experience using technology so as consumers buy anything they want, empower their businesses, and maximize their success. For that reason, it aims at companies and customer's digital empowerment in the UK to improve its living standards and enhance economic competitiveness (Hahn, Kim, and Youn, 2018). The mission of digital infrastructure enhances customer experience and creates a room for competition at a global stage. Amazon is the top among UK companies for attracting and retaining talent.
Amazon Current Business and Financial Information
Amazon's current business operations include e-commerce activities and improving its Operations Management (OM) through increased efficiency to ensure productivity. Additionally, the organization has incorporated advanced technologies for the optimal production of brands and services. Through continuous improvements, Amazon continues to expand and diversify its business while still maintaining adequate operations' support despite the product mix broadening and global expansion. Amazon has shown a continuous improvement of its revenue from $107,006 in 2015 to $280,522 in 2019. As of 2018, the cost of goods sold amounted to $139,156, and the organization had an operating income of $12,421 (Majed, Nuraddin and Hama, 2018). According to Amazon's financial statement, the organization had 504shares outstanding, continuous improvement from 477 in 2015, and gained $11,588 in income from continuing operations (Moore and Tambini, 2018).
Amazon's Main Competitors
Amazon competes with some of the world's largest companies, such as Apple, Netflix, and Google. Apple is an America-based online retailer that specializes in online selling of electronic products. Netflix is a major competitor to Amazon because it has an increased market share in many parts of the world compared to Amazon, thus attracting more customers. Google, on the other hand, is best known for its innovations (Gregory, 2019). Therefore, it sells products from different brands on its e-commerce platform, selling other companies' products while Amazon majors on its brand. Netflix sells its products based on customer needs, which vary from one region to another.
Why Amazon Company is an Interesting Organization to Study
Amazon is an exciting business organization to study since it shows commitment during its provision of world-class services. Additionally, the organization uses initiatives to create platforms that consumers can track and order goods online. As a result, there is convenience and simplicity in their online shopping experience (Neubacher, 2020). Diversification ensured in the organization facilitates the provision of different products giving its customers a chance to explore new merchandise hence attracting new business opportunities. Amazon aims at consistently maintaining culture and enhancing community donations during pandemics to ensure corporate social responsibility.
Conclusion
References
Gregory L., (2019) Amazon.com Inc’s mission statements and vision statement. Viewed online at http://panmore.com/amazon-com-inc-vision-statement-mission-statement-analysis (Accessed 19th October, 2020)
Hahn, Y., Kim, D., & Youn, M. K. (2018). A Brief Analysis of Amazon and Distribution Strategy. The Journal of Distribution Science, 16(4), 17-20.
Majed, S. Z., Nuraddin, S. H., & Hama, S. V. S. (2018). Analyzing the amazon success strategies. Journal of process management. New Technologies, 6(4), 65-69.
Moore, M., & Tambini, D. (Eds.). (2018). Digital dominance: the power of Google, Amazon, Facebook, and Apple. Oxford University Press.
Neubacher, B. (2020). Alphabet and Amazon: how incumbent resource power keeps competitors at Bay (Doctoral dissertation).
Seagal T., (2020). Who are Amazon’s main competitors? Vierwed online at https://www.investopedia.com/ask/answers/120314/who-are-amazons-amzn-main-competitors.asp#:~:text=Amazon's%20retail%20store%20rivals%20include,Oracle%2C%20Microsoft%2C%20and%20IBM. (Accessed 19th October, 2020)