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The Social Network
Transcript of The Social Network
Jeff Bezos, Founder & Current CEO and Former Wall Street Executive
Launched in 1994 in Bezos' garage in Bellevue, Washington
Originally known for selling books
Ranked 35 in the Fortune 500
Mission: “to be Earth’s most customer-centric company, where customers can find and discover anything they might want to buy online, and endeavors to offer its customers the lowest possible prices,”
The 411 on Amazon
Amazon Products & Services
Amazon Branded Companies
MBA500A Team 1
Nizar Cherkaoui, Charles Doria,
Nicholas Lachman & Lorraine Zaccardo
Brands Owned by Amazon
The Amazon Social Network
Job Types Available
Over 100k employees worldwide
Array of fields such as administrative, legal, medical, delivery, warehouse, business oriented, IT, etc.
Increase in jobs focusing on social media - over 1,400 job posted
Social Media jobs within Amazon require specific experience
New feature that allows shoppers to add products they discover on Twitter to their Amazon shopping carts.
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Software Development Engineer, Social Media Applications
A Bachelor’s degree in Computer Science
4+ years experience in C++ and/or Java
Experience designing, building, and deploying large-scale software systems
Proficiency using modern web development technologies and techniques
Experience communicating with both technical and business audiences &
Ability to work in a fast-paced and agile development environment
Senior Product Manager, Social Media
· An extensive background (7+ years) in product management and a record of successful product delivery.
· Experience working with engineering teams to define, scope and prioritize product requirements.
· Strong writing and analytical skills
· Bachelor’s degree in Business, Marketing, or related field required
· Social Media/Networking experience.
· Experience working with Social Networks (for example Instagram, Facebook, Twitter, etc.)
· Experience working in the area of online marketing, or online business development
· Experience partnering with retail.
· An MBA is preferred
· Strong oral and written communication skills
Company Culture - 14 Leadership Principals
1. Customer Obsession – Employee decisions start with the customer and work backwards
2. Ownership – Employees act on behalf of the entire company
3. Invent and Simplify – They want their employees to be creative
4. Are Right, A Lot – Leaders have strong business judgment and good instincts
5. Hire and Develop the Best – They want their staff to develop their employees and take seriously their role in coaching others
6. Insist on the Highest Standards – The Company is continually raising the bar and driving their teams to deliver high quality products and services
7. Think Big –They think differently and look around corners for ways to serve customers
8. Bias for Action – They value calculated risk taking
9. Frugality – They do not spend money on things that don’t matter to customers
10. Vocally Self Critical – Their employees benchmark themselves and their teams against the best
11. Earn Trust of Others – leaders are willing to examine their strongest convictions with humility
12. Dive Deep - No task is beneath an employee
13. Have Backbone; Disagree and Commit – They want their employees to challenge decisions when they disagree
14. Deliver – They don’t expect their teams to just settle, they expect them to go above and beyond.
Amazon Sources of Revenue
Nasdaq Global Select Market
Amazon Long-Term Outlook
Amazon Revenue Breakdown
Corporate Credit Rating
S&P AA- stable
Leading market position
Globally well recognized brand name
Prudent financial risk management
Highly efficient retailing superpower
Amazon Financial Situation
Amazon’s Competitive Advantage
Partnership with HBO
Paid for Digital Rights - not including Game of Thrones or Sex & the City
First & only place to stream HBO shows without an HBO cable subscription
Faster Fulfillment by Amazon
Twitch Aquisition for $1 Billion
How successfully will they be able to do this?
True customer feedback and ratings
Purchase from anywhere in the world
Big range of products and services
B2B & B2C
Everything from E-Commerence to Web Services
Many divisions to help fund other divisions
What's Next for Amazon
Has the resources needed to launch the endeavor
Loyal global customers
Why would a customer choose to purchase products from this company rather than others?
Is the culture problematic or successful?
Even Wal-Mart which is a notoriously bad place to work, has a median 3.3-year tenure, or four years at Microsoft, or 6.4 at IBM
Are there any opportunities for career growth?
Challenge to adjust with strict adherence of 14 principals
Compensation is average
Amazon is built to be Darwinist
Would you work for this company?
Yes, I would. I have experience working at "dot-com" companies. I thrive in that environment. There are great opportunities and growth within my specialty - digital marketing.
I personally wouldn’t. It is more demanding than what I am looking for in a job and career.
I would not be interested since its not my field of study. Also, this is not the type of corporate culture I would want to be apart of.
The 411 on Amazon
The Loyal Amazon User
It's Worth the Investment
Why not work for Amazon?
Every Product from A to Z
New & Refurbished Goods
Amazon Web Services
Highly volatile Stock Prices
Online Retail is only 10% of the US Retail Market
Possibility of dominating the emerging V-Commerce Market
Heavy investment in research and development
Fiscal Year Ending December 31, 2013
Amazon Historical Revenue
Electronics & General Merchandise
Third Party Sellers
Media and Content
AWS, Fulfillment, Publishing, Digital Content Subscriptions
Marketing and promotional services
Amazon Historical Income & Cash Flow