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amazon.com inc.

Overview

Amazon.com Incorporated has grown leaps and bounds from an alternative book retailer online to the fourth most valuable company in the US this month (1). Currently, the company has the diversification and available capital to take numerous risks, exploring new areas and opportunities, but that wasn’t always the case. Amazon’s ability to identify strategic innovation and rebound from the innovative leaps that don’t find their place in the market is partly what got it there. Along side that has been the persistence to expand in fruitful markets while always focusing on competitive pricing and product accessibility, which has driven business model since the company’s public appearance in 1995.

History

Founded as Cadabra, an online bookstore, in July 1994, Amazon was up and running for business by October 1995 and was up for an IPO in May of 1997. The company didn’t anticipate making a profit for it’s first four or five years of operation, a goal they met in Q4 of 2001. Throughout its tenure thus far, Amazon has hosted retail websites (Target among many others), run other online bookstores (Barnes & Noble), innovated the Kindle, created the first online loyalty program (Prime), partnerships with the US postal service for Sunday delivery, and was the first company to test a drone-delivery system for short-range deliveries (3), a business that Google’s parent, Alphabet is getting into (2).

Innovations

Founder

Partnerships

Jeff Bezos

Jeff Bezos, the founder and current President, CEO, and Chairman was previously a Wall Street guy. In 1999, he was named Person of the Year and known for his success in creating the wave of online shopping. He’s prioritized the customer experience for the life of the company, and has ensured that no matter the status of the company, customers are always served promptly and well.

Infrastructure

Landscape/Value

This mindset may not be an innovative one, but it’s an exceptionally important one, and a very successful one when partnered with Amazon’s dedication to innovative, strategic expansion. Amazon develops software across four continents, and has customer service centers in almost every country equipped with software development centers, increasing innovative power and diversity of thought.

Upcoming

Currently, the company is working on a package storage space called Amazon Locker and an App called Amazon Flow that allows you to take pictures of things and automatically have them added to your shopping cart. These creations might be the next wave of online shopping, or they might not take off at all, but they are clearly designed with customers in mind, as are all Amazon services–an important element of business that won’t be going away.

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