➊ Amazons Core Value Strategy
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For instance, its foray into the Tablet computer market with its Kindle Fire device has been a failure and hence, it must now move to eliminate this and other kinds of non-core diversifications. The rule of thumb for any firm is whether its various strategies including market entry, product ranges, and services offered are complementing and supplementing its core competencies. In other words, firms must ensure that when they diversify or integrate, such forays complement and supplement their core business strengths. Perhaps there can be no better strategic option than expanding and diversifying into the cloud based business. As cloud, computing is set to emerge as the hottest trend of this decade and along with the other trend of the increasing usage of Big Data by marketers, Amazon can clearly establish itself in these segments and attain market leadership positions.
As mentioned earlier, any strategic alternative or option must satisfy the complementary and supplementary imperatives. Considering the fact that Amazon is built on the online platform, cloud based services would be an extension of its core competency and would be complementary to its existing business model. Indeed, Amazon is following this strategy through its AWS or Amazon Web Services wherein it offers a suite and portfolio of services to the SMEs Small and Medium Enterprises that include data management, storage space, hosting services, and other cloud based services. The expansion of AWS would be in tune with the drivers of the corporate strategy as identified earlier including the growth imperative, expansion of the customer base through diversification, consistency with its internal resources, and entering a market segment that is recording shattering growth rates.
However, there are some drawbacks to this strategy as well and they include entering an untried and untested market, basing its strategy on technological trends that have a shorter life span, and sustaining returns from an initiative that is high on capital investments. Having said that, it must also be noted that Amazon can also develop a complementary Big Data service wherein it offers firms and companies access to its Big Data mining and analytical tools.
This can be in addition to the expansion of AWS and these strategies can serve as buffers for each other in case either fails. In order to grow quickly and actualize economies of scale as well as leverage synergies, Amazon needs to expand globally. Though in its current business model, it does indeed cater to a global audience, it must also setup local portals in the countries in which it wishes to enter. For instance, Amazon now has dedicated portals in many countries including India and this model can be followed in other countries as well. Further, it needs to adopt a Glocal approach wherein its core global delivery model is adapted to the local conditions thereby actualizing a merging of the global and local or Glocal.
Next, the specific regions that it can target and expand into are the Scandinavian countries where the populace in those countries are highly connected as well as have high incomes. The twin combination of high rates of penetration of the internet and the high disposable incomes is a sure way of garnering more business. Amazon attacked competitors in a very innovative way. Its mindset was hardly a love of books. It simply provided a way for customers to browse for, order and receive books. Ultimately, Amazon had the potential to expand its value-creating activities into a network of other internet retail areas - music and films being obvious examples.
And why not have a go at things like toys, electronics, bikes - you name it? Bezos spent just 10 minutes going through the dictionary and got midway through the As. We are going to be very big - like the Amazon river. Very early on, Bezos had a clear if stretching strategic vision. I bought it quickly and easily within five minutes on Amazon - it therefore also adheres to the 34th of my 55 ways of being cunning: make what you sell as effortless as possible to buy. Amazon is interesting not just because of its competitive scope, but also because of its market strategy. Other strategists would contend that you can mix the two as a hybrid. A differentiation strategy is where the product or service is either perceived to be, or is, of superior customer value and has a definite price premium.
A cost leadership strategy is where the price may be similar or usually lower than the competition, but costs are certainly lower. From nearly 25 years of consulting I have found that hybrid strategies are typically hard to bring off. Amazon has massive warehousing facilities and processing capability, which give it physical economies of scale. That in turn gives it cost advantages. But in its service it is differentiated - so it is something of a hybrid. Amazon is ultra-keen on customer feedback, and Bezos has spread customer focus as a mantra throughout the organisation. Delighted customers spread such feedback as I have just done. The company is venturing into some perhaps unexpected new areas for example, by exploiting its distinctive capability in handling large amounts of data and for new types of customer corporates , sending a shiver down the spines of many large IT companies.
In terms of strategic options, it might consider product extensions to, for example, higher-price items cars or motorbikes? What about services too, such as insurance, funerals and holidays? The Amazon brand is potentially limitless. And if so, could it also provide the finance?These standards may appear unreasonable to those Amazons Core Value Strategy the Bruno boy in the striped pyjamas, but all employees commit to this Amazons Core Value Strategy when joining Amazon. This site uses Akismet to reduce spam. I bought it quickly and easily Amazons Core Value Strategy five minutes on Amazon Amazons Core Value Strategy it therefore also adheres to the Amazons Core Value Strategy of my 55 ways of being cunning: make what you sell as Amazons Core Value Strategy as possible to Amazons Core Value Strategy. Previous: The Causes and Antigone Character Of Creon of Unemployment. They differentiate and provide better quality Amazons Core Value Strategy their Amazons Core Value Strategy across the industry.