AMAZON

Amazon’s mission statement consists of four strategic components;

1. Customer Centrism: From convenience to comfort, easy execution of tasks, and

useful products, Amazon is obsessed with addressing customers’ needs.

Amazon’s obsession with the customer also delivers the best user experience (UX) and
customer experience (CX) through its e-commerce website, which is user-friendly,
highly-responsive, and optimized for mobile. It considers customers as the bloodline and
the most important stakeholder group to its online retail business.

2. The Widest Variety of Products: The third component indicates Amazon’s

determination to provide customers with the widest variety of products. From apparel to
consumer electronics, jewelry, gardening tools, and toys, Amazon offers a wide variety
of products.

Although it already offers more than other stores, Amazon is focused on availing all
other products and services on its platform and transform it into a one-stop-shop.

3. Lowest Prices: The fourth and last component in Amazon’s Mission Statement is “to
offer its customers the lowest possible prices.” Currently, Amazon’s prices are
lower compared to most other retailers.

The e-commerce giant has set the standard in providing customers value for money for
other retailers to follow.

4. Global Reach: Amazon is focused on international leadership in the e-commerce

market. Currently, Amazon offers its services in different countries across the world.

Therefore, the retailer is committed to expanding its e-commerce platform to cater to

consumers in the countries not yet covered. Amazon’s strategic objective is to expand
globally to offers each consumer the option to shop online for anything from anywhere
across the world.

Amazon Company Values

Once we know what are Amazon vision and mission statements, let’s proceed with
the values of Earth's most customer-centric company. When Amazon hires
employees, the company tells them about core values and goals, while defying
whether a person will follow this corporate culture. Everyone in Amazon act in line
with this culture, this helps the corporation grow dramatically every year.
1. First is customer obsession. Customers are at the top of the company’s
interests. Not competitors, not other websites and other businesses, just
customers and their interests.
 2. Invent and simplify. Amazon wants to make everything as simple as it is
possible. If there are some innovative ideas, they are always ready to take a look
at them and implement the best plans.
3. Ownership. No one who works for Amazon says ‘That’s not my job’.
Everyone is responsible for the overall company’s success. Amazon strives to
build long-term relationships with customers, third-party entrepreneurs, vendors,
and employees.
4. Insist on the highest standards. Making the best business, selling the best
products to provide the best customer experience is one of the top Amazon
company goals.
5. Frugality. Amazon states that everything can be achieved with fewer efforts
and resources. They teach employees that the frugality principle works, and the
same can be implemented to sellers’ businesses. There are always ways to
achieve more by doing and investing less.
6. Earn trust. Treating others respectfully and doing everything to be compliant
with Amazon mission and vision helps grow trust. As you know, trust is what
keeps customers interested in your brand, what keeps employees working for a
company, what keeps people together.
7. Deliver results. eCommerce processes are important but results are what
every business person is looking for. Every entrepreneur and leader should be
result-oriented. And what concerns Amazon purpose specified in their mission
statement, the ideal result for everyone who works for the company (even third-
party sellers) is providing exceptional customer experience.

Amazon’s Philosophy
Amazon has established and nurtured a highly effective “Day 1” philosophy that has
driven the company’s growth over the years and can be broken down into ten
components:

1. Avoid ‘Not Invented Here’ Mentality: Stakeholders can eradicate the

limitation imposed by ‘not invented here’ and learn from internal and external sources to
bring in new and innovative ideas. Although Jeff Bezos did not invent e-commerce,
Amazon is synonymous with e-commerce.
2. People Empowerment: From sellers and enterprises to content creators and
developers, Amazon’s philosophy is to empower people with lucrative options to make a
living. Amazon also empowers customers by providing flexible options to access
cheaper products.
3. The Empty Chair: In the early years, an empty chair was brought into boardroom
meetings to represent the customer and ensure that their needs and desires are taken
into account. Over time, the philosophy of obsessing over the customers is evident from
top to bottom.
4. Avoid Bureaucracy: Amazon does not subscribe to the notion of following the
chain of command. Businesses can use either Type 1 or Type 2 . Type 1 are irreversible
decisions, while Type 2 decisions can be reversed. Amazon uses Type 2 to allow all
stakeholders to engage in decision-making without supervision.
5. Calculated Risk-taking: Amazon values calculated risk-taking. The founder
believes that “failure and invention are inseparable twins” and has nurtured a
strong experimentation culture as a process of attaining inventive and innovative ideas.
6. Build the Right Culture: Amazon has built a breakneck-paced and cost-
conscious culture that is perfectly suited for its time-sensitive Over time, all stakeholders
gradually became instinctively aware of the importance of timely and cost-effective
operations.
7. Shared Economy: Instead of developing your own e-commerce website, you
can use Amazon’s platform as a service (PaaS). Amazon’s shared economy philosophy
has enabled millions of people around the world to set up virtual stores.
8. Respect to All: From hiring for diversity to global presence, Amazon emphasizes
the value of treating every person with respect by offering everyone equal opportunity to
pursue their dreams and aspiration.
9. Never Settle: Even though delivering millions of packages worldwide is
impressive, all that does not matter if even 1% of the packages were late or undelivered.
Amazon will never settle for 99% and is not satisfied until it is 100%.
10. Own It: All stakeholders are owners.