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Unit 1 Discussion board
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Unit 1 Discussion board
Technological Innovation at Amazon
The company chosen for the sake of this discussion is Amazon Inc., the most famous e-commerce giant. Amazon is an American multinational and its exceptional growth has been witnessed since its formation. One of the factors that have contributed to the success of this company is the adoption of emerging technologies. Commenced as an online bookstore now Amazon sells almost everything, utilizing the technology of the internet. It utilizes the big data, which exceed the processing capability of its database systems, and handles accounts of millions of customers from all over the world. It has used modern technologies to take the title of World’s most innovative company of 2017. The e-commerce giant has introduced state of the art technology to allow the most precise tracking of orders and drone deliveries. The company has also introduced new automated fulfillment centers that allow storage of more products. The falling barriers to trade and investment and technologies for logistics and operations can be credited for the success of the company. Reduction in trade barriers permits Amazon to ship in more than 100 countries worldwide. The new drone technologies by Amazon including, Amazon Fire Phone, Amazon Prime Air, and Amazon Dash Button are the key to success of this e-commerce giant (Investopedia, n.d.).
Amazon Corporate Social Responsibility
Amazon was ranked number one in 2017 in Annual Reputation Quotient released by Harris Poll, due to its initiatives in corporate social responsibility and renewable energy initiatives. In 2016, the company launched the initiative with Feeding America to donate excessive food. Company’s employees have contributed to various volunteer programs; to date, it has volunteered 1600 hours and USD 65,000 in goods. It also takes part in different donation based programs. Amazon empowers and educate their workers; the Amazon Career Choice Program pays employees tuition fees. Amazon Virtual Contact Centre offers work from home opportunity to customer service employees (Keblis & Chen, 2006). Amazon program “Pay to Quit” offers monetary benefits to encourage employees to leave to rethink what they want to do. In addition, the company is not ignorant of the environment; Amazon Wind Farm Texas produces approximately 1,000,000-megawatt hours of clean energy. By the year 2020, it also initiates to host solar energy systems in its fulfilment centers. The company also claims in 2017, that they have eradicated more than 44,000 tons of packaging waste owing to its waste reduction program. Other than that, the company is also involved in various charitable programs, such as Amazon Smile, Amazon Literary Partnership and Amazon program to deliver gift packages to military people and children living away from their families.
How Multinational Corporation can contribute to the positive development of the global economy
Multinational corporations can provoke many positive impacts on the environment the economic progress and other countries. They can produce a great impact on world economy with the increase in economic activities, trade of goods and services, introducing new technologies in the developing countries, reducing the gap between the poor and rich countries. Amazon can offer quality goods and services at the affordable rates to provide these goes to those who are underprivileged. The fastest growing companies can spend a portion of their revenues in the betterment of nations by reducing poverty, making living conditions better. One example of China can be taken in this regard, it has reduced the cost of goods and increased the country’s exports which not only benefit the people of their own country but also from the other countries with which the company trade. Multinational companies create jobs, provide access to the other markets, creates competition and a result customer gets quality products and services at the reasonable prices.
References
ADDIN ZOTERO_BIBL {"custom":[]} CSL_BIBLIOGRAPHY Investopedia. (n.d.). 5 Amazing Technologies Developed By Amazon. Retrieved from Investopedia website: https://www.investopedia.com/articles/markets/062215/5-amazing-technologies-developed-amazon.asp
Keblis, M. F., & Chen, M. (2006). Improving customer service operations at amazon. com. Interfaces, 36(5), 433–445.
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