Strongly Recommend Jeff Bezos to present a series of lectures to our MBA students because of his exclusive managerial qualities like: 1. Entrepreneurial Optimism Great quality needed in these tough times to motivate students through his inspiring journey to be a successful business executive. 2.
Old-fashioned Visionary Had a clear vision about what the company would go in the future. Survived through the technological and Economic changes . 3. Master Strategist Acquired Dot com companies, integrated to his business to create placeholders in those categories.
Jeffrey P. Bezos Born: 12 January 1964 Birthplace: Albuquerque, New Mexico. Graduated from Princeton University(1986) BS in Electrical and Computer Engineering Launched Amazon. com in 1994, Online Retail Book Store. Chairman of Amazon.
com Board from 1996 C. E. O from May 1996 President from 1994 – June 1999 October 2000 – Present Time Magazine’s Person of the Year in 1999 @ Stayed Optimistic and Survived Tough times @ Did not earn his success overnight but by taking one step at a time. Earned Profits only after 6 years of inception of his company.
Optimism is essential when trying to do anything difficult because difficult things often take a long time. That optimism can carry you through the various stages as the long term unfolds. And it's the long term that matters”. Entrepreneurship – State of mind than working for yourself. Being Resourceful, Self-Reliant, Problem Solver. By sharing his success story , Jeff could influence students to be motivated and focused to achieve what they want ,than to worry about the downward trend in market.
Technological changes did not affect Jeff Bezos's business motto which is “Try to give your customers the biggest selection at the best prices, delivered cheaply and easily. ” Jeff Bezos's Business motive did not change with time . Vision is to be the world's most customer-centric company. Place where people come to find and discover anything they might want to buy online. Amazon moved into music CDs, videos, toys, electronics and more. When the Internet's stock market bubble burst, Amazon re-structured and posted profits while other dot.
com start-ups evaporated. He has been impervious to downturns in the economy and market.Find out your passion: Many companies started in ‘98 ’99 period failed, because they tried to chase the wave. Find your passion and wait for the wave to find you. Again long term is what matters. Keep Focused on Eliminating Risks: By Modifying your strategy, until it is a strategy to be genuinely optimistic.
Successful entrepreneurs hate risk so they deploy the resources systematically, iteratively eliminating from the largest risk first. Jeff Bezos continually emphasized the "Six Core Values: customer obsession, ownership, bias for action, frugality, high hiring bar and innovation. Strategy to be from “Earth's biggest bookstore" to "Earth's biggest anything store”, analysts called it as one of the smartest strategies in business history. Jeff Bezos is trying to do to book publishers what Steve Jobs of Apple did to the music industry, with its iPod and iTunes Store.
In November 2007 Amazon released the Kindle, an electronic book reader, which enables users to download over 1,500 books on each machine. Secret: "e-ink," which spares users from staring at an eye-straining backlit display. The Kindle adds 40% to the sales of a physical book on Amazon. om. He is not an Innovator but an iterator.
He demonstrates how a cutting-edge Internet company-of all things-can succeed slowly. Acquired many companies like Pets. com, Living. com, Kozmo.
com, and Homegrocer. com 600,000 active seller accounts now, and over 900,000 associates. Vendors can build their own websites and e-commerce applications through Amazon. com, till date had over 100,000 downloads As of 2010 – Reported Revenue is $34.
8 billion, Amazon. com ranked #100 on the Fortune 500 (up 66 places from the 2009) It was the fifth-ranked company as measured by its 134. % return to shareholders during 2007, putting it, surprisingly, two ranks above Apple . Forbes magazine lists Jeff Bezos as the world's 43rd-richest man and estimated his worth at about $12.
3 billion as of 2010. Lesson is to try million tiny steps and learn quickly from your missteps. By doing just that, Bezos has created one of the all-time great retail operations. Finally recommend him to be the guest lecturer so that the students can take full advantage of his business experience.
Sources from CNNMoney. com , Forbes. com, Onesource. com,Datamonitor360. com,Amazon. com,EBSCOhost.