Amazon Case Study
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Amazon Case Study
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A Brief History of Amazon
In 1994, Jeffery P. Bezos founded a retailing marvel, Amazon the company got incorporated in the same year while, Amazon.com went online in 1995. Amazons headquarters is located in Seattle, Washington, and it is acknowledged as a significant service provider of cloud computing as well. The suggested name and logo of the company feature a deliberate effort to associate the retailer with the most magnificent river and first alphabet somehow, the notion rendered to depict the superiority and expanded scope of the operations. Similarly, the logo connects A to Z with the help of an arrow that asserts that the retailer deals with everything from A-Z. Initially, books were the major products offered by Amazon, however by the time the retailer inflated and enwrap the idea of larger inventory-base.
Amazons underlying operations are comprised of e-commerce, prescription drugs, cloud services, groceries, books, and digital advertising. Moreover, Alexa, Amazon Prime Video Platform are other enhanced personal services of Amazon. Amazon pursues a well-devised stratagem on all its operational and functional levels that, in turn, substantiating its prevalence as a retailer. Consequently, in 2018, the companys net income demonstrates a figure of 10.1 billion dollars, which is a threefold augmentation from the previous year (2017). Furthermore, the revenue gains of 31 reflected on income expansion. According to statistics, the current ratio of Amazon for the year 2018 is 110 (Investopedia, 2019). Amazons product profile is laden with multipurpose devices, gadgets, and commodities some people disparage the overreach surveillance potency of Amazons household devices and delineate it as an anti-competitive entity. Yet, no one can deny the versatility of Amazon and slyness to juggle with all the mtier at the same time.
Functional-Level Strategies of Amazon
Functional-level strategies can be defined as the regular and day-to-day tactics which are developed to sustain the completion of business and corporate-level strategies in a broader perspective. The functional strategy is subject to be devised and implemented according to the provided instructions and archetype of top-level management (Abrheim, 2015). In the following, a description of Amazons functional-strategies, which it follows to elevate its efficiency, customer responsiveness, and product quality is given.
Efficiency Amazon emphasizes swift and accurate product delivery and therefore invested a massive amount of resources and endeavors to its distribution networks. In due course, Amazon has established more than forty distributional centers only within the premises of the United States. Moreover, the networks are efficiently equipped with sophisticated software that analyzes the patterns of customer purchases and suggests Amazon regarding the orders and implied charges and time to mark and shut the delivery. Throughout the process, Amazon strives to reduce the cost of inventory storage meanwhile, through practical implications of economic order quantity, Amazon never runs out of the stock. Consequently, the effectively disseminated distribution network allows Amazon to decrease the delivery time and also reduces the overall cost of delivery (Hill, Jones Schilling, 2015).
Customer Responsiveness Customer responsiveness needs the ultimate commitment of the organization towards innovation, quality, and efficiency. Moreover, in due course, the company needs to comprehend the wants of customers, and when they want it, the customer responsiveness demands to pivot all the interrelated aspects of consumers. Amazon is a consumers centric retailer that puts the customers at the nexus of all business practices. In due course, Amazon ensures quick and hassle-free ordering process and delivery. Amazon utilizes the data to customize the ordering preferences according to the unique personalities and buying patterns of customers. Secondly, Amazon believes in the potent of empowering customers by proffering them with opportunities to make rational purchase decisions. For this purpose, Amazon allows customers to give their reviews and feedback right under the offered products so prospect consumers could decide the efficacy of product features along with other factors before ordering it. However, in the recent business environment, several other companies are practicing a similar review and transparent feedback strategy, but Amazon is the pioneer who paved the path for such a courageous initiative. The scope of such an effort encapsulates the accountability of manufacturers regarding quality standards. Similarly, customer loyalty is the most integral and inevitable faade of Amazons functional strategy. Amazon focuses on the notion of helpfulness while serving its customers, and from inception it is adhered to this principle strictly. In this context, Amazon stays agile in inspecting the efficacy of its services and assures the customers satisfaction through conducting and analyzing different sporadic surveys. As a result, such surveys play a crucial role in enhancing the sales events and alluring the loyalty and commitment of customers toward Amazon (Collomb, 2018). According to Bezos, our customers are loyal to us right up until the second somebody offers them a better service, and I love that, it is super motivating for us (Robsichon, 2017).
Product Quality Quality is a parameter that is evaluated in the relevance of offered services and goods. In the absence of products quality, no business can imagine attaining competitive advantages. The product quality incorporates the idea of value and utility provided to the consumers by service providers or manufacturers. Evidently, Amazon deals with a myriad of sellers in order to proffer customers with a vast range of products from A-Z. And in due course, Amazon compels all of its sellers complying with the declared policies, guidelines, and laws of Amazon. Amazon understands that all its local and global customer-base have confidence while making a purchasing decision at Amazon, and therefore, it is imperative to authenticate the reliability and credibility regarding the product quality that should be harmonized with the advertised commodity (Amazon Seller, 2019).
Product Quality Meanings for Amazon and How Has Innovation Helped Amazon Improve Its Efficiency, Customer Responsiveness, and Product Quality
According to Amazon, the quality is all about accelerating the excellence of offered and provided products and services. In due course, Amazon developed policies and guidelines to mitigate the perils of counterfeit products as well as possibilities of damaged and expired commodities (Amazon Seller, 2019). Amazon is a company that never tires of lifting itself even after attaining the peak of excellence the persistent development and strive for innovation listed Amazon in Fast Companys Most Innovative Companies List (Robsichon, 2017). Jeff Bezos is continuously integrating the conceptualization of agility and size that yield fruition for the business. Through the notion of innovation, Amazon deems three fundamental initiatives that, in turn, drive Amazon toward the path of exceptional accomplishment. First of all, Amazon is nurturing a membership program that permeates into the conventional realm of brick-and-mortar outlets and connects Amazons online business with a physical world. Secondly, Amazon follows a livid thinking and perpetual development of logistics and interrelated facilities. And thirdly, Amazon has established warehouses where high-tech robotics machinery assists Amazons employees in proceeding the orders and deliveries (Robsichon, 2017). In this context, Amazon underlines the significance of practicing innovation through the expansion and substantiality of distribution channels and centers. Amazon believes in the automation of the business process that simultaneously augments its efficiency, addresses customer responsiveness and product quality dimensions.
Recommendations for Amazon in Sustaining Its Competitive Advantage in the Online Retail Business
By analyzing the details of Amazons functional-level strategies and other practices in the attainment of efficiency, customer responsiveness, and product quality, it becomes evident that Amazon is exerting outstanding and productive endeavors. Amazon is a digitized retailer and extracting the utmost essence of online retailing through the development and incorporation of logistic and distribution automated procedurals. Amazon has stabilized its rapport and reputation in different markets and reaping enviable returns on investment. It seems impossible to pinpoint any weak or recommendable grounds for such a smart, agile, up-to-date, and dynamic company. However, Amazon should observe its scrutinizing policies regarding its sellers. In the past, it happened that clients complained regarding counterfeited products, and such unpleasant occurrences can tarnish the loyal customer-base of Amazon. Therefore, Amazon should be more open, transparent, and blunt with authorized sellers about its quality standards and underlying penalties in case of violation. Amazon should infuse the requirements of ISO 9001 certification with the help of third-party auditors to evaluate the sellers credibility and quality standards, and after strict and cautious assessment, the sellers who mark the desired score will be forwarded to Amazon for selling commodities. In this way, Amazon could secure the privacy of sellers, along with practicing a secure approach to managing a huge seller base. Such initiatives are also practical from logistic and distribution standpoint because it is relatively convenient to enforce policies and implications of customer service from sellers stage instead of managing the integrity of the supply chain of more than two million sellers. Moreover, automated shutting of a listing should be revised and restricted because some customers can falsely claim a product to be counterfeit, and in such cases shutting down of listing costs Amazon and sellers thousands of dollars. Regardless of anything, Amazon is a thriving and most significant digitized retailer and is already attaining all the competitive advantages over rivals. In order to maintain its supremacy, Amazon should never shun the starvation for constant innovation.
Abrhiem, Talil. Management Performance through Functional-Level Strategies. LAP Lambert Academic Publishing, 2015.
Amazon.Com Online Shopping For Electronics, Apparel, Computers, Books, Dvds More.Amazon.Com, 2019, https//www.amazon.com/. Accessed 5 Dec 2019.
Amazon Product Authenticity And Quality - Amazon Seller Central.Sellercentral.Amazon.Com, 2019, https//sellercentral.amazon.com/gp/help/external/G202010130languageen_US. Accessed 5 Dec 2019..
Collomb, Jerome. 3 Customer-Centric Lessons From Amazon. Myfeelback, 2018, https//www.myfeelback.com/en/blog/customer-centric-lessons-amazon. Accessed 5 Dec 2019.
Hill, Charles W. L et al.Strategic Management. 2015.
Robischon, Noah. Get Ready For 5G To Make Your Phone Even More Addictive.Fast Company, 2017, https//www.fastcompany.com/90437800/get-ready-for-5g-to- make-your-phone-even-more-addictive. Accessed 5 Dec 2019.
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