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Management Concepts

In: Business and Management

Submitted By jlynch9656
Words 1602
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Management Concepts Page 1

Professor Keith Housser

Business 302 Management Concepts

January 22, 2012

Management Concepts Page 2

Amazon.com was founded by Jeff Bezos in 1994, and launched in 1995. Jeff left his job as vice-president of the Wall Street firm D.E. Shaw, where he moved to Seattle to work on his business plan for what is now called Amazon.com. Jeff read a report stating that the projected annual Web growth will be 2,300 percent. After reading this he came up with a list of 20 products that he could sell on the internet. He narrowed the list down to what he felt were the five most promising items he thought would sell on the internet. They are compact discs, computer hardware and software, videos, and books. He eventually decided that his venture would sell books over the Web, the reasoning behind that was large worldwide market for books. Then he decided that he could lower the price of the books and sell them on the internet with a huge selection of savings. He then worked on investments’ he two initial investors one got the initial page up and running. Then he added one additional vendor who helped him made his website better by adding customer feedback. He went live with the website July 1995 and became the number one book-related site on the Internet.

The Company was growing in 1997; Bezos announced in October that Amazon.com would be the first Internet retailer to reach the milestone of one million customers. Amazon.com now has customers in all 50 states and 160 countries worldwide, he has come from his Seattle garage business to a business that is now worth 6.5 billion dollars. Amazon goal is to offer the biggest selection and to be the most customer-centric company, where customers can find and discover anything they may want to buy…...

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