Sunday, September 22, 2019

Global strategy Essay Example | Topics and Well Written Essays - 2000 words

Global strategy - Essay Example Statistics also show that approximately 47% of the company’s sales were coming from the outside markets beyond the US home business. The company had also diversified its business interests, and it sold nearly everything including, but not limited to books, digital music and jewellery. Despite its acclaimed success and impeccable international reputation, Amazon has undergone through a number of challenges, which have been weathered successfully and efficiently. Some of the challenges that have bedevilled the company over the years include the failing shareholder attitudes and the current global financial crisis. The firm has continuously taken strategic decisions and actions geared towards sustainability and financial prosperity; this has seen it grow with an edge above its rivals in the electronic trade industry. This paper will dwell on, among other things: the dominant strategy-shaping economic and competitive characteristics of Amazon, qualitative assessment of by use of Porter’s five Forces model, critical success factors of, and the SWOT analysis of What are the dominant strategy shaping economic and competitive characteristics of Amazon? Any business is obliged to meet its obligations to both the shareholders and consumers respectively, that is, it should be profitable as well as cater for consumer satisfaction needs. In this regard, Amazon, like any other business in the world, has such obligations to meet. Since its inception in the year 1995, the company has experienced tremendous growth that has long surpassed its primary goal of becoming the largest and best bookstore in the world. However, according to Amazon’s CEO Jeff Bezzo, it is up to others to determine if the Amazon has achieved its goal of being the most ‘customer-centric’ company in the world (Stockport 2009, p.574). Amazon aims at providing consumers with their needs, introducing consumers to innovations and store personal ization to cater for diverse consumer tastes and preferences. In order to achieve these goals, Amazon has adopted a number of strategies that act as a roadmap to economic prosperity and sustainability. Firstly, Amazon has adopted a three pillar strategy that comprises of ‘selection’, ‘price’ and ‘convenience’ (Stockport 2009, p.575). The selection pillar entails offering a diversified range of products and services; for instance, this includes retail products, software and cloud computing services. Under the price pillar, Amazon commits to price leadership with due regard for quality of products and services. For instance, the firm provides free transport to customers with expedient delivery. The convenience pillar dwells on ensuring customer satisfaction through the provision of relevant and effective goods and services. Amazon strives to understand customer needs and requirements through customer review and feedback reports on its products an d services. Amazon’s staff recruitment process has also been tailored to promote achievement of the company’s primary goal (becoming the world’s most ‘customer centric’ company). The company does not choose employees on the basis of their skills, but rather on the basis of their need to meet customer needs and expectations. Bezzo argues that in the changing world, skills that are needed today may not be

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