ENT300

FUNDAMENTALS OF ENTREPRENEURSHIP

CASE STUDY REPORT

JEFFREY PRESTON BEZOS

SHEIKH ABDUL HAFIZ BAJUNAID BIN SHEIKH ABDUL HAMID

2019686064
FACULTY OF CIVIL ENGINEERING
PEC1104B1

PREPARED FOR
LECTURER’S NAME : SIR SHARAF BIN AHMAD

SEMESTER : MAC 2021 – JULY 2021

SUBMISSION DATE : 7 MAY 2021

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 TABLE OF CONTENTS PAGE NO

EXECUTIVE SUMMARY
3
ENTREPRENEUR PROFILE
4-6
ENTREPRENEURIAL COMPETENCIES
7-8
REFERENCES
9
APPENDICES
10-12

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EXECUTIVE SUMMARY
Jeffrey Preston Bezos is the organizer and chief executive officer of Amazon. He is one of the
world’s wealthiest people as a result of his successful business ventures. He developed an early
involvement in computers and started learning electrical engineering and computer science at
Princeton University. After he graduates, he worked on Wall Street at the investment firm D.E.
Shaw in 1990. Bezos left his worthwhile job four years later to launch Amazon.com, an online
bookshop that becomes one of the most successful stories on the internet. The company’s early
triumph was spectacular. Amazon.com had marketed the books in the United States and 45 other
countries in 30 days without a press release. Sales had reached $20,000 per week in two months,
much faster than Bezos and his startup team had anticipated. In this assessment, I have searched
all about him and found that he is a risk-taker and very motivated to reach success in his business.
This case study describes the information about Jeff Bezos and the background of his company.
Besides, this case study explained how Jeff Bezos’s life before becoming a very successful
businessman. Also, this case study demonstrates the four entrepreneurial competencies of Jeff
Bezos, which is the key to his business success. Every single successful entrepreneur has their
characteristics on how they become very successful in their business.

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ENTREPRENEUR PROFILE

Figure 1.0 shows a picture of Jeff Bezos

NAME : Jeffrey Preston Bezos

NICKNAME : Jeff Bezos
AGE : 57 Years Old (2021)
DATE OF BIRTH : January 12, 1964
STATUS : Married
NET WORTH : 198.8 billion USD (2021)
TITLE : Founder, CEO, President and Chairman of Amazon
EDUCATION : Princeton University (1982–1986), Miami Palmetto Senior High
School (1982), River Oaks Elementary School
FOUNDED : Amazon.com, Blue Origin, Bezos Earth
OCCUPATION : Businessman Media proprietor Investor Computer engineer

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Jeffrey Preston Bezos was born in Albuquerque, New Mexico, in January 1964. When he was in high
school, he founded the Dream Institute, a center that encouraged the youngster to form an idea
creatively. Then, Bezos earned a degree in electrical and computer science after completing his
graduation from Princeton University. He worked in many positions before working with the New York
investment bank D.E Shaw and CO. Later, he gained the senior vice president, as he manages in
researching the internet's stake potential. He left D.E Shaw and decided to turn a new leaf to Seattle
to open an online bookshop.

Bezos started establishing the site software in his house garage with a small group
of workers. Amazon.co was named after a South American river and had sold their first book in July
1995. The site, which was open 24 hours a day, was accessible, motivating visitors to publish their
book reviews and provide a discount. Amazon.co began selling CDs in June 1998, and earlier that
year it offers videos. Bezos expanded his site’s auction and support in a different virtual shop.
Amazon’s glory influence other wholesaler, together with main book chains to open online shops.

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BUSINESS BACKGROUND

Amazon.com is a worldwide technology enterprise headquartered in Seattle, Washington that

specializes in electronic purchase, computing resources, online streaming, and artificial intelligence
or known as A.I. Along with Microsoft, Google, Apple, and Facebook, Amazon.com is one of the Big
Five worldwide corporations in the data technology field. The corporation has been described “as
one of the world’s most powerful moneymaking and cultural strength in the globe.” and in addition
“the world’s most treasured brand.”.

On July 5, 1994, Jeff Bezos launched Amazon from his house garage in Bellevue.
Amazon began as a networked bookstore but has since widened out to sell computer electronics,
operating systems, electronic games, supplies, jewels, and gems. In 2015, Amazon had beat
Walmart as the most precious wholesaler in the United State of American in terms of market
financing. Amazon paid $ 13.4 Billion for Whole Foods Market in 2017, expanding its physical retail
footprint significantly.

Amazon is the world’s biggest online corporation in terms of income. It provides

streaming and downloading of ‘talking books’, music, and video via its Twitch, Prime Video, and
Audible section. It manufactures electronic entertainment such as Kindle electronic books, Fire tv
and tablets, and Echo gadgets. Its collections over the of the year involve Internet Movie Database,
Twitch, and Ring.

Amazon had established Amazon Web Series in 2002, it contains data on web page
popularity, network traffic system, and different statistics to sellers and developers. Then, it expanded
its Amazon Web Series portfolio in 2006 with the availability of Elastic Compute Cloud, which can
rent CPU including Simple Storage System, that takes information through the network. The following
year, Amazon launched Fulfilment by Amazon.com, which organized the record of people and small
businesses selling their wares via the corporation’s website. Amazon purchased Kiva Software in
2012 to automate their record management corporation. While in 2017 Amazon bought the Whole
Foods Market superstore firm.

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ENTREPRENEURAL COMPETENCIES

1. RISK TAKER

Jeff Bezos's characteristic is identical to Mark Zuckerberg’s character traits of grab high risk
in a planned way. It is a simple fact that a person with a family and a strong career does not
abandon everything to become a businessman if he cannot take the risk. Jeff Bezos had
decided to open his own company. He did not have any money and his only aid was his lovely
parents. Jeff Bezos was aware that there were 70% possibilities for him to fail, but his
determination did not allow him to climb down from the risk. When talking about taking the
risk, the world’s wealthiest man once said, “if you have a risk-free business plan, it is likely
that it is already in operation. Something that may or may not works is required. It will be a
trial in various ways. We constantly grab risks and discuss failure.”. Experimentation and
readiness to innovate have always been among Amazon’s lifestyle. Now, Jeff Bezos is one
of the world's wealthiest men, and his penchant for grabbing high risk had not failed. For
example, the launch of the Kindle versus the iPod is a vivid example demonstrating Bezos’s
daring personality.

2. STAUNCH EXPERIMENTALIST

Jeff Bezos is a person who trusts in innovating things based on what is needed at the time.
As a result, he always experimenting with technology, along with his widely recognized online
journey. The Amazon CEO is fascinated with experimenting and developing products that
complement his consumer’s wishes. Besides, Jeff Bezos has exhibited the characteristic of
experimenting with the venture since its inception in 1994. For example, Amazon wanted to
test whether to advertise on television or not. In the early years of Amazon.com, executives
wanted to know if it was worthwhile to spend money on the television commercial. Therefore,
they seek for two markets that had a better mix of the consumer they target, and Amazon
discovered Minneapolis and Portland to be the greatest choice. Amazon ran the experiment
for 16 months, which is far longer than most businesses would test. However, Bezos stated
that Amazon was “impossible fixated on it and that it was “overlong, high-cost experiment, but
we were resolved to know this for our business once and for all.” While the advertisement did
increase Amazon’s sales, Bezos resolved that it was insufficient to justify the market price.
So, despite being a long experiment, it was beneficial to Amazon’s tactics. Due to the CEO’s
enjoys experimenting, Amazon has evolved from a bookseller online venture to the world’s
largest online advertising.
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3. A WINNING LEADERSHIP STYLE

Bezos is regarded as a task-oriented and transformational leader. A link is made between

Bezos’s long-term objective and the consumer’s demands and desires to better serve the
buyer. He had been able to aid Amazon to expand and grow over time due to his capability
to innovate and envision. There are four qualities leadership qualities discussed. First of all,
Bezos always considers his aim in the long term. Every stage of Amazon’s timelines provides
assisting consumers, which means that it will be involved with every perspective, no matter
how big or small. Bezos does not plan for the next year, but preferably for the next five years
and sometimes even farther, a mentality that can be recreated in various other organizations
as long as the CEO has the opinion to articulate perspective for the board and shareowners.
His next characteristic is that he sticks to the well-planned idea and aims the face difficulties
and drawbacks. When he is subjected to criticism, having a smooth plan can aid him to stay
on track. After that, Bezos emphasizes the importance of knowing his market. A well-
established market is required for any company to ensure that their services or products are
sold. It is preferable to have an average product with a large sale than a good product with
no sale. Finally, Bezos never passes up an opportunity for casual self-promotion. It is crucial
to have the opportunity to promote a business or product at all times, but the practice is
essential. Bezos has made it a point to practice pitching to the public in a way that feels natural
rather than sales.

4. KNACK FOR INNOVATION

Jeff Bezos has been a developer for a long time. From inventing a sound alarm to protect his
property from irritating siblings to establish the world known e-commerce web page, Bezos’s
desire to create something brand new has only grown over time. His desire to create
something innovative has only grown stronger over time. Initially intended to give shopper
with books. His creative abilities drove the online portal to give anything and everything a
person could desire. Jeff's most well-known upheaval is the widely popular Electronic book
gadget Kindle, which he created to match the Apple iPad. Bezos enjoys inventing, whether it
is his Blue Origin space Business, the solar cookstove he creates as a child or his Amazon
ventures. He recognizes and encourages it in his employees. Bezos has stated that working
in groups and brainstorming are two of his favorite activities.

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 REFERENCES

1. Wikipedia. (2021). Jeff Bezos. Accessed April 20, 2021 from

https://en.wikipedia.org/wiki/Jeff_Bezos.
2. Davos Investment. (2021). Jeff Bezos Leadership Style. Financhill.
https://financhill.com/blog/investing/jeff-bezos-leadership-style.
3. Nima Torabi. (December 30, 2020). The Winning Characteristics of Jeff Bezos Behind
Amazon’s Success. Medium. https://neilpatel.com/blog/lessons-from-jeff-bezos/
4. Neil Patel. 12 Business Lessons You Can Learn from Amazon Founder and CEO Jeff
Bezos. The All-In-One SEO Tool. https://medium.com/swlh/the-winning-characteristics-of-
jeff-bezos-behind-amazons-success-
5. Lokesh Tanwar & Priyanka Singla. (July 4, 2019). 10 Personality Traits of Jeff Bezos-
Richest Man. Business Alligators. https://www.businessalligators.com/jeff-bezos-
personality-traits/

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APPENDICES

Figure 2.0 shows Amazon Sphere in Seattle, Washington.

Figure 3.0 shows advertising by Amazon.

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Figure 4.0 shows the Kindle Paperwhite by Amazon.

Figure 5.0 shows the first Amazon bookstore.

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 Figure 6.0 shows Amazon has involved in GROCERY.

Figure 7.0 shows Jeff Bezos was in Success Magazine Cover in 2018.

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