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Amazon Business Strategies Comp 1 Mod 2 Reflection MGTCB 526.docx MGTCB/526 Amazon Bus

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Amazon Business Strategies Comp 1 Mod 2 Reflection MGTCB 526.docx MGTCB/526 Amazon Business Strategies “ Comp 1/Mod 2 Reflection MGTCB/526 Amazon Business Strategies Someone once said trying to be everything to ev ...

Amazon Business Strategies Comp 1 Mod 2 Reflection MGTCB 526.docx MGTCB/526 Amazon Business Strategies “ Comp 1/Mod 2 Reflection MGTCB/526 Amazon Business Strategies Someone once said trying to be everything to everybody means being nothing to nobody. Essentially, in the business world, it means no business is able to cater to every customer. Well, heres the name of one company that has proven this statement to be mostly false: Amazon.com. Founded by Jeff Bezos and established in July 1995, Amazon has had continued growth from its beginning, which started with just one product, books (Hartmans, 2020). In the first quarter of 2020, the firms revenue amounted to more than $75 billion (Mohsin, 2020). That is quite impressive for a single quarter. So, what strategies has the well-known and profitable firm used to maintain its competitive advantage? Amazon Mission and Vision Statements ï‚·Mission: œTo serve consumers through online and physical stores and focus on selection, price, and convenience. (Wanjala, 2020) ï‚·Vision: œTo be the Earths most customer centric company where customers can find and discover anything they might want to buy online. (Wanjala, 2020) Industries Remember it started with books. Today, this business giant offers so much more. Product availability includes just about everything. Clothing and fashion, electronics, and food to name a few. The company also offers services such as food delivery subscription and PrimeTV. If the consumer mind can think of it, Amazon probably has it, or its on its way. With s. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . .. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . .. .. . . . . . . . . . . . . . . . . . .. . . . .

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