Jeff Bezos Essay Example for Free

Jeff Bezos EssayJeff Bezos is an American entrepreneur who was re on the wholey influential in the growth of e-commerce. He is the chief executive and founder of Amazon.com, Inc., a control community that began as an online merchant of books in advance it expanded to a wide variety of products. Amazon.com is the largest retailer on the internet and the model for internet sales. consort to Drexler (2007), Bezos began his early c atomic number 18er in ho delectation school. He developed the Dream institute which promoted creative cerebration among the young students. He graduated in 1986 from Princeton University with two degrees, computer science and electrical engineering. In 1990, he joined D.E Shaw Co. where he became the vice president. In 1994, he quit the smart set and opened a realistic bookstore in Seattle, Washington. He worked from his garage for a while as he developed the parcel for his site which he named Amazon.com.The greatest challenge for the company c ame in 1995, when Bezos needed money to launch his company. He needed $1 million to keep the company running for at least 2 years. It was very challenging because he needed the whole $1 million at once. According to him, this was a judgment of conviction when the company could have collapsed even before it got started. It was difficult for investors to fund his idea because they were skeptical about the authorization of the internet. Ultimately, he managed to raise the whole amount from about 20 angel investors. Another challenge was persuade people to buy products via the internet when they could admit a special order from retailers and calculate the product at their door step. In addition, all retailer streamed online (Drexler, 2007). Because of the competition, the companys market capital dropped from $32.1 billion to $8.9 billion in half a dozen years. Some people even called it Amazon.org because it seemed like a non-profit company.Bezos is eager to maintain the success of his business for many another(prenominal) years. Kendrick Vershinina (2010) assert that he created an excellent brand that strives on adapting to the evolving business environment and constant growth. He believes that if guests get a great experience from a retailer, they will definitely tell others about it. in that respectfore, the word of speak is a great marketing tool. He has been described by many as a besotted and goofy individual, a personality that is carried to the work environment. He keeps the employees happy but ensures that they accomplishthe companys goals. However, his word is invariably final. As much as everyone is allowed to be innovative, the final decision comes from Bezos. This kind of leadership limits what the executives can do but that is the culture at Amazon. One of the former employees alleged that Amazon.com is to any(prenominal) extend run as a sole proprietorship (Kendrick Vershinina, 2010).The culture of Amazon promotes openness among all employees. The top management, including Bezos, supports this culture and every other employee adheres to it. It has allowed everyone to share any innovations and different ideas that would make the company better. Because of the advance, a customer can use his previous payment information to buy other products, through the one-click ordering technology. Bezos management style is customer-centric (Marques, 2007). The company understands that it is all about providing what the customer wants.According to Daft Marcic (2010), Bezos management style also ensures that the leaders keep their egos in check. The needs of the company come before the managements whims. Nonetheless, he also ensures that the management works unneurotic to improve the brand and leadership style. Weekly management meetings are held for four hours. The executives are expected to make presentations regarding new products, pricing strategies, technologies, or cost-control measures in the company. He then asks ques tions to his satisfaction. Therefore he is very severe and precise on what should be done. He asks for every possible form of evidence or data on the problem being tackled.As a leader, he is also persevering and hardworking. Despite all the struggles he went through to begin his company. He persevered and worked hard to remain competitive. In fact, he argues that most investors fall in up too quickly. If he had given up, he would not have managed to raise $1million to launch his company. Moreover, he believes that letership matters when building a good company (Marques, 2007). The owner of a company thinks long-term unconnected an employee who thinks in terms of his salary. Therefore, the owner is able to plead passionately to ensure that his ideas and projects succeed.His hiring bar is raised higher. When hiring, he looks for people he can admire and learn from. Therefore, he looks for the best employees and does not compromise on the right skills and quality of work. However, Bezos asserts that Amazon is not always keen on what will happen in the next quarter. The company is willing to invest in an employee and wait to reap the benefits in future. Furthermore, he tho spends money on the issues that matter. For the companys headquarters in 1990s was located on Seattles skid row. Even when the company was worth about $500 million, the company was still located in the same building. Bezos believes in expending money on things that matter (Daft Marcic, 2010).Nonetheless, there is the Just Do It award that is given to employees who come up with positive innovations for the company (Thompson, 2011). It encourages employees to be creative. He also encourages innovation by hosting monthly lectures from renowned scientists. The lectures are aimed to spark new ideas in the employees that could revolutionize the company. However, he also decides whether or not an employee can operate a new idea. The company also has special days where employees can come to wor k with their children. There is a special room where children can play games as their parents work.He uses the top-to-bottom management style. In some instances, he personally manages a project to make sure that it is done to his specifications. He believes that every tutor or leader has to spend some time in the trenches. Therefore, it is his responsibility to oversee activities in the company, ones in a while. In fact, every year he spends a week at each of the companys warehouses checking on how things are run and looking for better ways to improve the company and make more profit. ideally the working environment at Amazon is dominated by Bezos (Thompson, 2011).According to Goethals et al. (2004), the partnership strategy at Amazon has also been very successful. The company partnered with various companies like Drugstore.com, Pets.com, Kozmo.com and living.com among others by buying an equity mail service in the companies to share their prosperity. Additionally, itcharged them placement fees on the site to promote the sites. Therefore partnerships have helped the company to make more profits and attract more customers.Bezos has greatly impacted the business world because of his sapience and innovation. He was intelligent enough to quiet a good paying job to start his own from scratch. Although he began with selling books, he now dominates the internet with his company, Amazon.com. He also revolutionized shopping. Currently, every item, from a toothbrush to a car can be bought online because of his innovations. He is also known for contributing towards politics. For instance, in 2008, he contributed towards $100,000 to the Democrats to ensure that the income tax initiative in Washington was defeated.Anders, G. (2012, April 4). Jeff Bezos reveals his no. 1 leadership secret. _Forbes._ Retrieved June 16, 2013, from http//www.forbes.com/forbes/2012/0423/ceo-compensation-12-amazon-technology-jeff-bezos-gets-it.htmlLyons, D. (2009, Dec 20). The customer is alw ays right. _Newsweek Magazine_. Retrieved June 16, 2013, from http//www.thedailybeast.com/newsweek/2009/12/20/the-customer-is-always-right.htmlNorthouse, P. G. (2013). _Leadership Theory and practice._ (6 ed.). Thousand Oaks, California Sage Publishing.The Worlds Billionaires. (2013). Retrieved June 16, 2013, from http//www.forbes.com/profile/jeff-bezos/