Amazon is the leading e-commerce and online retailing company in the Unites States. Amazon connects consumers with million of other retailers, they have their own line of electronics and software, streaming music and video. Their target market is consumers looking to mainstream their shopping experience and adapted to new technology.
Vision and Mission Statement
Amazon’s vision statement “is to be Earth’s most customer-centric company; to build a place where people can come to find and discover anything they might want to buy”. The statement is clear and graphic explaining where the company is headed and flexibility with the language to allow change if necessary. The only verbiage that I believe to be to vague is “anything they(customer) might want to buy”, while I know that does not mean anything some may take the term too far.
Amazon investor page is very easier to read and navigate, this is important to shareholders. An example of a strategic objective is when Amazon raised their minimum wage for all employees to $15. This wage changed affected over 250,000 employees and following the announcement netted over 850,000 work applications for hourly positions. A financial objective that took place was same-day or one-day shipping extended into over 10,000 US cities. Producing more options for customers in more areas.
Amazon’s senior management allocates a large amount of resources to improve local communities, military families, investing in the US, and their employees. Programs that aid hunger and homelessness, responsible packaging, and supporting small businesses. Attention to detail with these programs and opportunities gives Amazon employees the chance to volunteer and allows the company to make a difference where long-term business is available.
A company’s values are an important factor in strategic strategy. Amazon’s values are customer obsession, ownership, invent and simplify, learn and be curious, hire the best, the highest standards, think big, bias for action, earn trust, and deliver results. These values help lead employees to conduct business in such a manner that satisfies the consumer and embraces the long-standing culture at Amazon. It is important to have realistic values so employees can apply them daily and refer to them in situations (Thompson, Peteraf, Gamble, & Strickland, 2018).
Competitive advantage is how a company delivers superior value to its consumer and achieves an above average experience for the customer (McGee, 2005). Amazon’s niche over other companies is the innovation of all their technology driven software (Alexa), devices (Kindle, Echo), and services (Prime) that is offered to customers. Competitive strategy depends on certain factors like personal values of key implementer, industry opportunities, and company strengths and weaknesses McGee, 2005). Amazon’s sustainable advantage is product/service innovation and investing in their communities. Long term commitment in US cities has given new found company support form consumers.
Thompson, A., Peteraf, M., Gamble, J., & Strickland, A. (2018). Crafting and Executing Strategy. 21. 2-44. Retrieved from: https://marketingreports.blogspot.com/
Berg, G., Pietersma, P. (2014). The 8 Steps of Strategic Success Unleashing the Power of Engagement. Retrieved from: http://www.freemanagementresources.com