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Report on jeff bezos(amazon.com)

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2014 
No rth South University 
BUS 101.22 Project 
4/8/2014 
Prepared For: 
Zulfiquer Ali Haider 
Prepared By: 
1. Ziaul H...
1 | P a g e 
Table of content 
1. Executive summary……………………………………………………………………………………………………….2 
2. Jeffrey Preston Jorgensen...
2 | P a g e 
Executive summary 
This project is on an American Internet entrepreneur and investor Jeff Bezos. He is the fo...
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Report on jeff bezos(amazon.com)

  1. 1. 2014 No rth South University BUS 101.22 Project 4/8/2014 Prepared For: Zulfiquer Ali Haider Prepared By: 1. Ziaul Hoque Prince (1410102030) 2. MD. Towfiqul Haque (1311263630) 3. Kamrul Hasan Rizvi (1410201030) 4. Sadman Sakib (1411428630) 5. Nehal Saif (1411040630) 6. Akibur Rahman Mezba (1410451030) 7.Touhid Hossain (1411510630)
  2. 2. 1 | P a g e Table of content 1. Executive summary……………………………………………………………………………………………………….2 2. Jeffrey Preston Jorgensen…………………………………………….………………………………….…………..3 3. How Started Off the Business……………………………………………………………………………………….4 4. The Ups, Downs and Turning Point……………………………………………………….………………………4 5. Secret of success……………………………………………………………….…………………………………………7 6. His Approach Towards Work……………………………………..…………………………………………………9 7. Personality, Management and Leadership Style…………………………………………………………..9 8. Milestones/Awards……………………………………………………………………………………..………………10 9. Wealth…………………………………………………………………….………………………………………………….11 10. Employees’ perception of him…………………………………………………………….…………………….11 11. Philanthropic Activities …………………………………………………………………………………..…………12 12. The future of Amazon.com…………………………………………………………..……………………………13 13. Bibliography……………………………………………………………………………………………………………..14
  3. 3. 2 | P a g e Executive summary This project is on an American Internet entrepreneur and investor Jeff Bezos. He is the founder and CEO of Amazon.com.First of all, we will thank our course instructor Zulfiquer Ali Haider, because the research would not be done without his guidelines and instructions. This research focuses on his biography and his business related information that how he started off his business, ups and downs, turning points, secrets of his success, his approach towards work, Personality, Management and LeadershipStyle, Milestones/Awards,Employees’ perception of him, hisPhilanthropic Activitiesand the future of his business.
  4. 4. 3 | P a g e Jeffrey Preston Jorgensen: Jeffrey Preston Jorgensen is an American Internet entrepreneur and investor. He is a technology entrepreneur who has played a key role in the growth of e-commerce as the founder and CEO of Amazon.com. His nick name is "Jeff" Bezos .Jeff Bezos was born in Albuquerque, New Mexico at January 12, 1964 to Jacklyn and Ted Jorgensen. His maternal ancestors were settlers who lived in Texas, and over the generations acquired a 25,000 acre ranch near Cotulla. Bezos's maternal grandfather was a regional director of the U.S. Atomic Energy Commission in Albuquerque. Bezos's mother was a teenager at the time. Her marriage to his father lasted a little more than a year. When Jeff was four, she remarried to Mike Bezos. As a child, he spent summers at his grandfather's ranch in southern Texas. When he was a teenager, the family moved to Miami, Florida. In high school Miami Palmetto Senior High School in Miami, Jeffrey first fell in love with computers. An outstanding student, he was valedictorian of his class. He entered Princeton University planning to study physics, but soon returned to his love of computers, and graduated with a degree in computer science and electrical engineering. After graduating from Princeton in 1986, Bezos worked on Wall Street in the computer science field. Early on in Web history, he recognized the opportunity for online shopping, and created Amazon.com as a simple online bookstore, which then grew by leaps and bounds into a Web presence with many retail categories. Amazon was officially found in 1994, started as a bookstore. But quickly expanding to offer many different products. Throughout the years, Amazon has acquired several different
  5. 5. online retailers and added their distinctiveness to its own, the Internet Movie Database and 4 | P a g e Zippos, such as the Kindle Amazon Fresh, and Amazon Prime. How Started Off the Business: As a child Jeff Bezos showed an early interest in how things work turning his parents’ garage into a laboratory and rigging electrical contraptions around his house. As a teenager his family moved to Miami where he developed a love for computers and excelled in school; becoming the valedictorian of his class. Bezos pursued his interest in computers at Princeton university, where he graduated summa emu laude in 1986 with a degree in computer science and electrical engineering. After graduation he found work at several firms, on Wall Street including Fitle, Bankers Trust and the investment firm D.E Shaw where he met his wife Mackenzie and was named the youngest vice president in 1990.While his career in finance was extremely lucrative, Bezos chose to make a risk move into the nascent world of e-commerce. He quit his job in 1994, moved to Seattle and targeted the untapped potential of the internet market by opening an online bookstore. The Ups, Downs and Turning Point: The business carrier of Jeff Bezos is full of success. Jeff Bezos called pioneer of E-Commerce. After starting of his business amazon.com, he did not need show right back. He brought ‘The Washington Post' and other publications affiliated with The Washington Post Co. Pioneering E-Commerce
  6. 6. After complete graduation, when he worked on a several firms on Wall Street, Bankers Trust and the investment firm D.E. he thinked about E-commerce. His career in finance was extremely lucrative. So Bezos chose to make a risky move into the nascent of world of e-commerce. He moved to Seattle and targeted the untapped potential of the internet market by opening an online bookstore. Bezos set up the office for his fledgling company in his garage where, along with a few employees, he began developing software. They expanded operations into a two-bedroom house, equipped with three Sun Micro stations, and eventually developed a test site. After inviting 300 friends to beta test the site, Bezos opened Amazon.com, named after the meandering South American River, on July 16, 1995.The initial success of the company was meteoric. With no press promotion, Amazon.com sold books across the United States and in 45 foreign countries within 30 days. In two months, sales reached $20,000 a week, growing faster than Bezos and his start-up team had envisioned. Amazon.com went public in 1997 and many market analysts questioned whether the company could hold its own when traditional retailers launched their own e-commerce sites. Two years later, the start-up not only kept up, but also outpaced competitors, becoming an e-commerce leader. Bezos continued to diversify Amazon’s offerings with the sale of CDs and videos in 1998, and later clothes, electronics, toys and more through major retail partnerships. While many dotcoms of the early '90s went bust, Amazon flourished with yearly sales that jumped from $510,000 in 1995 to over $17 billion in 5 | P a g e 2011. In 2007, Amazon.com released the Kindle, a handheld digital book reader that allows users to buy, download, read and store their book selections. That same year, Bezos also set his sights
  7. 7. far, far, away, announcing his investment in Blue Origin, a Seattle-based aerospace company 6 | P a g e that is developing technologies to offer space travel to paying customers. Bezos then moved Amazon into the tablet marketplace with the unveiling of the Kindle Fire in 2011. The following September, he announced the new Kindle Fire HD, the company's next generation tablet designed to give Apple's iPad a run for its money. "We haven't built the best tablet at a certain price. We have built the best tablet at any price," Bezos said, according to ABC News. Buying 'The Washington Post' Bezos made headlines worldwide on August 5, 2013, when he purchased The Washington Post and other publications affiliated with The Washington Post Co., which owns the paper and other entities, for $250 million cash. The deal marks the end of the four-generation reign over The Post Co. by the Graham family, including Donald E. Graham, the company's chairman and chief executive, and his niece, Post publisher Katharine Weymouth. "The Post could have survived under the company's ownership and been profitable for the foreseeable future," Graham stated, in an effort to explain the transaction. "But we wanted to do more than survive. I'm not saying this guarantees success, but it gives us a much greater chance of success." In a statement to Post employees on August 5, Bezos wrote: "The values of The Post do not need changing. ...There will, of course, be change at The Post over the coming years. That's essential and would have happened with or without new ownership. The internet is transforming almost every element of the news business: shortening news cycles, eroding long -
  8. 8. reliable revenue sources, and enabling new kinds of competition, some of which bear little or no news-gathering costs. There is no map, and charting a path ahead will not be easy. We will need to invent, which means we will need to experiment. Our touchstone will be readers, understanding what they care about—government, local leaders, restaurant openings, scout troops, businesses, charities, governors, sports—and working backwards from there. I'm 7 | P a g e excited and optimistic about the opportunity for invention." Secret of success: Focus on Customers: Make the core of your business customer satisfaction. Hunt relentlessly for what makes your Customers smile, and innovate based on their needs. Practice Frugality: Sometimes success doesn’t require any special conditions. A studied rejection of luxury can make for lean innovations and improve company focus. Make Your Own Rules: Honor organizational outlaws. It’s often the radical or outlandish approaches to daily business that make the most impact. Think for the Long Term: Don’t be afraid to make decisions that might be unpopular in the moment but will reap future rewards. Risk It: Don’t be afraid to make decisions that might be unpopular in the moment but will reap future rewards.
  9. 9. 8 | P a g e Let the Data Decide: Before making a call, consult the data. Humans can get it wrong, but numbers never lie. Stay Hungry: The road to success is paved with dissatisfaction. Never accept the status quo or say, “I’ve done enough.” Instead, keep searching for potential and inciting growth. One Step Forward To Success:  Three days after launch, Mr. Bezos got an email from jerry yang(one of the founder of yahoo)to put the site in their cool site.  As a result By the end of the week, Amazon took in over $12,000 worth of orders. The Ultimate Success:  Amazon grew up very quickly once it was launched. Word kept spreading.  The company rather than doing advertising Mr. Bezos hired mobile billboards displaying the question, "Can't find that book you wanted?" along with Amazon's website address  The company's customer service—started with the founder himself answering emails ,which was the cornerstone of Amazon.com
  10. 10. 9 | P a g e His Approach Towards Work: As a child, he spent summers at his grandfather's ranch in southern Texas, "laying pipe, vaccinating cattle and fixing windmills." Bezos often showed intense scientific interests. He rigged an electric alarm to keep his younger siblings out of his room. After graduating from Princeton, Bezos started work on Wall Street in his chosen field of computer science. Early on in Web history, he recognized the opportunity for online shopping, and created Amazon.com as a simple online bookstore. Bezos believes in avoiding complacency at all costs, especially when reinforced by groupthink. Bezos says the act of communal reading guarantees the group’s undivided attention. Writing a memo is an even more important skill to master. He says “Full sentences are harder to write,”. “They have verbs. The paragraphs have topic sentences. There is no way to write a six-page, narrative structured memo and not have clear thinking.”Bezos even applies a logic to his personal life. When he has to make big decisions, he often works backwards and thinks about how he’ll feel about the choice. This logic is, “Eventually the existing skills will become outmoded. Working backwards … demands that we acquire new competencies and exercise new muscles, never mind how uncomfortable and awkward-feeling those first steps might be”. Personality, Management and Leadership Style: Jeff Bezos has a wonderful personality; he won’t waste any time in a meeting with anyone if he doesn’t fully understand where the conversation is going or how it will make Amazon better.
  11. 11. Jeff Bezos managers at Amazon find him formidable enough. But the figure that overwhelms their lives goes by the internal nick name, the empty chair. During staff meetings, he frequently pulls a additional empty chair into the conference room. That chair serves as a reminder of the parson not in the room ;the customer. This helps him and his team to be conscious of how the consumer would feel about their decision and the customer is a priority. In fact, Amazon tracks its performance against about 500 measurable goals and 80% of them are customer related. 10 | P a g e Milestones/Awards- He was named Time magazine's Person of the Year in 1999. In 2008, he was selected by U.S. News & World Report as one of America's best leaders. Bezos was awarded an honorary doctorate in Science and Technology from Carnegie Mellon University in 2008. In 2011, The Economist gave Bezos and Gregg Zehr an Innovation Award for the Amazon Kindle. In 2012, Bezos was named Businessperson of The Year by Fortune. As of August 2013, according to the Bloomberg Billionaires Index, Bezos is listed as one of the wealthiest people in the world with an estimated net worth of $28 billion. He was ranked the second best CEO in the world by Harvard Business Review, after Steve Jobs of Apple. An expedition funded by Jeff Bezos recovered two powerful Saturn V first-stage F-1 rocket engines from the Atlantic Ocean. They were positively identified as belonging to the Apollo 11 mission's S-1C stage in July 2013.
  12. 12. 11 | P a g e Wealth- His 2014 net worth is around 32 billion dollars. He is 18th billionaire in the world and 13th in the USA. Jeff Bezos fortune rose $13 billion in 2013 as shares in his online retailer Amazon soared 55. In October he bought the Washington Post for $250 million. The next month he sold 1 million shares of Amazon, less than 1% of the company, for about $260 million. In December he announced that Amazon could be delivering its packages by drones within five years. Employees’ perception of him- According to employees of amazon, Mr. Bezos thrives on confrontation and puts employees through "fire drills" when addressing an issue raised by a customer in which he has taken a personal interest. All it takes is a question mark in the subject line of an e-mail forwarded by Mr. Bezos for all hacks to break loose. Mr. Stone of Bloomberg Business week writes that Mr. Bezos is not dissimilar to other technology executives, including Mr. Jobs, Bill Gates, Steve Ballmer and Andy Grove, when it comes to making work difficult for employees. Mr. Bezos, Amazon employees say, sometimes explodes into what they call "nutters."
  13. 13. Most of his outbursts are a direct result of his total commitment to improving customer service and, in turn, his company's performance. That doesn't make them any less blistering. Here are a 12 | P a g e few of Mr. Bezos' greatest hits: “Are you lazy or just incompetent?” “I’m sorry, did I take my stupid pills today?” Philanthropic Activities of Jeff Bezos: “Our core business activities are probably the most important thing we do to contribute, as well as our employment in area,” Bezos told the time. Bezos noted that amazon e-book reader, the kindle efficient way to distribute books worldwide to the underserved. Bezos contributed $100,000 to help defeat initiative 1098,which sought to impose a state income tax on Washington’s wealthiest residents. He donated $10 million in August for innovation center at Seattle’s museum of history and industry, followed by $15 million in December his alma mater to establish the Bozes Center for neural circuit dynamics at the Princeton Neuroscience Institute. Two years earlier, the Bozes family foundation, his parents nonprofit, pledged $10 million to the Fred Hutchinson Cancer Research Center.
  14. 14. 13 | P a g e Recent Projects: In early December 2013, Bezos made headlines when he revealed a new, experimental initiative by Amazon, called "Amazon Prime Air," using drones—remote-controlled machines that can perform an array of human tasks—to provide delivery services to customers. According to Bezos, these drones are able to carry items weighing up to 5 pounds, and are capable of traveling within a 10-mile distance of the company's distribution center. He also stated that Prime Air could become a reality within as little as four or five years. The future of Amazon.com: Amazon.com has its way, come 2015, the company hopes to have 30 minute delivery available by drone via Amazon Prime Air. ABC News reported on Dec. 2, 2013, that Amazon’s CEO Jeff Bezos announced drone delivery will be available as soon as they can get FAA clearance. Right now, drone delivery is not possible, but there is hope the FAA will start allowing unmanned delivery as early as 2015. When a company is expected to grow earnings by 40% plus over the next several years, any threat to this earnings growth should be carefully considered by investors. Though Amazon.com seems to want to be everything to everyone, there are at least two major threats that could hurt this company's potential.
  15. 15. 14 | P a g e 2 Threats to Amazon.com’s Future Growth: • 1.formidable opponent to its Internet sales kingdom would be Wal-Mart • 2.the formation of a national Internet tax structure Bibliography: 1. Jeff Bezos - Wikipedia, the free encyclopedia 2. "Jeff Bezos pronounces his name". The Washington Post. 2009. Retrieved 17 August 2013. 3. "Amazon's Jeff Bezos: The ultimate disrupter". Fortune. Retrieved August 10, 2013. 4. http://www.biography.com/people/jeff-bezos 5. businessinsider.com/the-strategies-jeff-bezos-used-to-build-the-amazon. 6. "Biography and Video Interview of Jeff Bezos at Academy of Achievement". Achievement.org. Retrieved August 10, 2013. 7. www.washingtonpost.com/jeff-bezos...management-style. 8. LaGesse, David (November 19, 2008). "America's Best Leaders: Jeff Bezos, Amazon.com CEO". U.S. News & World Report. Retrieved November 25, 2008.

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