Amazon.com Vision, Mission and Strategy

Amazon.com Vision, Mission and Strategy Introduction Amazon was started by Jeff Bezos as the worlds biggest bookstore but slowly changed from this single-product model to a multi-product enterprise which deals with a wide array of products satisfying an even broader base of consumers. Rosier (2002) concedes that Amazon.com has established itself as a household brand in the USA and is arguably the best-known online brand.Advertising We will write a custom research paper sample on Amazon.com: Vision, Mission and Strategy specifically for you for only $16.05 $11/page Learn More Since its birth, Amazon.com has moved from solely dealing with books to involving a myriad of other products. Kalakota and Robinson (2001) assert that an organization must continually strive to fulfill customer needs which include; convenience, consistency and reliability. Amazons venturing into different products thus complements the customer’s needs as opposed to sidetracking the original customer by offering them mor e convenience in that they can get not only books but also other products from the same place. Despite its diversification strategy, Amazon.com still engages in strong online branding so as to foster loyalty and a feeling of trust among its consumers (Arvidsson, 2006). In its book section, the company encourages people to write reviews on books thus offering a community-like interaction which generates emotional ties. This move underscores the fact that the company still holds the book section as one of its core entities and care is taken to maintain and increase its consumer base. These qualities and strategies have enabled the company to attain its goals and vision of being the world biggest bookstore and satisfying its client needs. Vision statement According to Hill and Jones (2009), a vision statement is a phrase that describes a desired outcome. The authors state that a vision statement should inspire, energize and help the reader develop a mental picture of the set target. As such, this is the proposed vision statement for Amazon.com: Acts as a foundation from which every aspect of our business is developed. It guides our operations by highlighting what is needed to accomplish our goals and objectives of achieving sustainable and quality growth.Advertising Looking for research paper on business economics? Let's see if we can help you! Get your first paper with 15% OFF Learn More People: provide a favorable working environment where people are inspired to realize their full potential. Portfolio: bring to the global market a range of online services that foresee and satisfy our client’s needs and desires. Partners: foster a successful network of clients and suppliers with whom quality and enduring value can be created. Planet: influence positive change that will facilitate in building and supporting sustainable communities. Profit: maximize long-term benefits to shareholders, all the while maintaining ethical practices in all our operations. Productivity: be an effective and proactive organization. Mission statement Hill and Jones (2009) define a mission statement as a written affirmation that outlines the core purpose of an organization and its focus. The authors state that in most cases, a mission statement remains unchanged over time. With this in mind, a satisfactory mission statement should be: Our mission is to run the best online bookstore, irrespective of the products and services that we offer. Considering the nature of our business, our ambitions must coincide with the principles that govern the products that exist in our stores. To state that our mission does not depend on the products and services that we offer is to undermine the importance of being an online bookseller. As online booksellers we aim to be the best in this line of business, no matter the size, nature and affiliations of our competitors. We will be at the forefront when it comes to innovating new and better styles and app roaches to bookselling. Our strategy will be in line with the set and evolving aspirations. Above all, we expect to be a benefit to the communities that we cater for, a useful resource to our clients, and an avenue through which different stakeholders can grow and prosper. Not only will we be a listening and caring partner to our clients and booksellers but also promote the idea that we are always at their service. Recommended implementation strategy While offering of † free shipping plans† and express shipping services is expensive and does cut into the profit margin of the company, Amazon.com should continue to offer these services to its clients. Competition in the online retail market is every increasing and as such, a company needs to give itself a competitive advantage over its competitors. These â€Å"super saver shipping† scheme offers one such means since it proposes to offer the consumers value added services thus setting Amazon.com apart from its compet itors. Considering that Amazons marketing strategy is pegged on an increase in customer traffic so as to promote repeat purchases and strengthen the brand name, the free shipping plan appeals to customers thereby leading to an increase in the traffic on the site. Pasiuk (2006) confirms that Amazon considered its free shipping offer as a marketing expense whose primary objective is to attract and retain customers.Advertising We will write a custom research paper sample on Amazon.com: Vision, Mission and Strategy specifically for you for only $16.05 $11/page Learn More While there is no doubt as to the increase in cost that Amazon.com incurs due to this schemes thus leading to decreased profitability, the increased traffic leads to increased turnover for the company. This leads to increased profits which compensate for the relative cost incurred in the provision of the services. Membership plans lead to loyalty and a sense of affiliation to the company by the consumers. These plans involve increased customization which entails tailoring of services so as to suit the unique case of the customers (Hill and Jones, 2009). While this does come at the cost of having to offer customized services which lead to rise in cost structure, it enables Amazon to respond to customer demands very quickly to the advantage of both the customer and the company. By upholding these strategies, Amazon.com will be able to meet and fulfill its mission and vision statements all the while maintaining a stable competitive advantage against its aggressive and ever-increasing competitors. References Arvidsson, A. (2006). Brands: Meaning and Value in Media Culture. USA: Routledge, 2006. Hill, C., Jones, G. (2009). Strategic Management Theory: An Integrated Approach. New York: Cengage Learning. Kalakota, R., Robinson, M. (2001). E-business 2.0: Roadmap for Success. California: Addison-Wesley.Advertising Looking for research paper on business economics? Let's see if we can help you! Get your first paper with 15% OFF Learn More Pasiuk, L. (2006). Vault Guide to the Top Internet Industry Employers. USA: Vault Inc. Rosie, B. (2000, February). Amazon Leads Race to Expand Web Services. Retrieved from: ABI/INFORM Global. (Document ID: 50804851).