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Amazon Business Strategy
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Amazon Business Strategy
The business strategy of Amazon is highly customer-centric, blended with cost leadership. Amazon positions its competitive edge as its breadth of selection, affordable prices, and unparalleled convenience (Baboolal-Frank, 2021). The worldwide online retailer achieves success and high-profit margin because of innovation, ongoing diversification of its operations, and economies of scale. The company’s business strategy is largely achieved through the following operating tactics.
Unwavering commitment to providing excellent service to customers. It is possible to characterize Amazon's approach to doing business as being devoted to its customers. The most successful online store in terms of sales is more concerned with the company's long-term expansion than its current profitability. Amazon does not concern itself too much with its rivals because it is working toward its mission of seeking to be the world's most customer-focused corporation. Additionally, Amazon is focused on creating and entering new market segments through its focused diversification strategy. In 1997, Amazon launched as an online bookstore to sell textbooks; today, the company sells virtually anything that can be purchased online at a global level (Ives et al., 2019). Amazon's sophisticated worldwide logistics system is one of the firm grounds that support the company's position as a market leader. The technological powerhouse has made considerable use of this benefit to participate in company diversification successfully. Amazon is currently active in an ever-expanding variety of business sectors, including B2B distribution, cloud computing, entertainment consumer electronics, digital distribution, and autonomous vehicles.
Amazon has relied on its human resources pool to achieve its business strategies. Amazon human resources are expected to take up excessive workloads and frequently have to sacrifice a healthy work-life balance to meet their employer's demanding expectations. The employees are encouraged to remain innovative and focused on the company's mission. Through the outstanding performance of its founder Jeff Bezos and current CEO, Andy Jassy, the company's human resources have been aligned with its business strategy.
References
Baboolal-Frank, R. (2021). Analysis of amazon: Customer-centric approach. Academy of Strategic Management Journal, 20, 1-16.
Ives, B., Cossick, K., & Adams, D. (2019). Amazon Go: disrupting retail?. Journal of Information Technology Teaching Cases, 9(1), 2-12.
https://journals.sagepub.com/doi/abs/10.1177/2043886918819092
