Need A Power Point
Running Head: FORMAL BUSINESS REPORT
FORMAL BUSINESS REPORT 2
Formal Business Report
The world technology is growing at a very high speed and every company is looking for ways of adopting the latest version to remain relevant in the market. Organizations have developed a working culture that aims at retaining existing customers as well as attracting more potential ones. In 1995, Amazon came into existence when Jeff Bezos the CEO decided to start a company and stop capitalizing on the dot-com boom. From the day the business was launched, the owner has been building the brand through new technologies and management mechanisms. Amazon is now a pacesetter in the technology industry that has led the way from e-commerce, online gaming, e-readers to video streaming among other things (Galloway 2017). Amazon is an online company selling a variety of goods from a host of technologies where there is an online interactive environment between the organization and customers.
Amazon is an American multinational company providing services such as cloud computing, e-commerce, artificial intelligence and digital streaming all over the world. Through innovation, the company has been able to beat prominent organizations in the world offering the same services. Amazon has not yet arrived at a monopolistic level but with the current innovation and ever-growing customer base, such can be realized soon. Amazon is currently the world’s largest online market place which is trusted for efficiency and offering quality products to the customers. From research, Amazon was found to be the second-largest private employer in the US with over 750,000 employees (Shevchenko 2020).
Since the launching of Amazon, the company has entered into various agreements with governments and other private institutions with the main aim of satisfying their customers. In 2001, amazon entered into an agreement worth $50 million per year with another US company to exclusively supply toys and other baby products, a deal that reaped heavily. In 2011 Amazon was again on the limelight when they signed another contract with DC Comics for management of digital rights which included green lantern, the sandman, and superman. This partnership led to the birth of well-known books such as Barnes and Noble. Amazon has been a prominent giant in the market that was emulated by big companies such the Apple.inc. The latest deal agreed by Amazon is that of Apple. Inc. that was effected in January 2019 that it is only apple authorized resellers allowed to sell Apple products on Amazon.
Purpose of the report
The purpose of this report is to review and analyze what other companies have done to prepare managers for a move after their companies decide to open branches in another country. From the requirement, it is clear that my company (Amazon) is opening a branch in another country. The report will also provide a detailed plan for the selection and training managers who will move to the new branch. After examining what other companies have been doing to remain at the top and provide unbeatable goods and services, the report will recommend the best mechanism and competitive tools to put in place to continue leading the market in the technology industry.
The vision of Amazon “is to be earth’s most customer-centric company; to build a place where people can come to find and discover anything they might want to buy online” and this can only be achieved when there is maximum commitment since it is not the only technology company in the world. The company CEO, Jeff Bezos is among the world’s best CEOs that have been passionate about what they do. He has sacrificed a lot to see the company where it is now.
Aims and Objectives
The main aim of this report is to come up with a detailed plan for selecting and training managers. It is always a challenge of the top management on who to promote and who to demote or transfer. Managers get into a dilemma during this exercise and sober minds are expected when executing some duties. Everyone in the organization feels qualified to be assigned the new challenges for the reasons best known to them this report will, therefore, provide the most effective plan on how the managers will be selected and trained without any collisions at the workplace. Amazon is a reputable company watched by the whole world hence every decision made must be cross-checked to be of great advantage to both the public and the customers.
The report will also do a comparative analysis of revenue sources for the past few years and how the revenue has been utilized for the success of the organization. Companies such as Apple, Microsoft, and Alphabet have been the key competitors in the world market thus the report will also analyze how these companies have been executing their duties and how they have prepared their managers in performing new roles. These three companies are prominent in the world market thus the report will aim at coping with the successful mechanism and strategies applied to make them a success.
Amazon has been doing great for the last couple of years and opening a new branch is nothing new in the company. The organization is well known for having the best managers with great experience globally. Employees at Amazon do what they do best happily without the supervision or intervention of managers. The working relationship practiced here is admirable to any company that may wish to grow fast and control the market at some time. Amazon is the best performing technology company in the world-beating bigger companies such as apple and MasterCard among others.
Amazon has employed four unique performance management techniques that have enabled the company to remain at the top. A strategic training management plan will help in selecting and training managers of the techniques discussed below.
The first one is Amazon’s white paper process where the company emphasizes more on the vision and mission as well as the core values as expected of employees to conduct themselves while at work. Employees are given a chance to feel as if they work in their own companies in that they bear personal responsibility for the progress of the company and this has helped amazon in growth to an extent of opening a branch in another country. To increase efficiency at the workplace, the white paper process requires employees to write a piece of paper any question or recommendation in case they do not want to review their identity.
The other technique that has triggered vast growth and amazon to a point of opening another branch is the Google OKRs style of goal setting. O are the objectives and KR the key results on how to get to the objectives. The goals and objectives are set by the managers and the employees and everyone plays their part in realizing the goals. Amazon adopted this mechanism and it has helped a lot in getting the company at the current position.
Managers and other employees are given software to facilitate feedbacks for every request in time and at the convenience of the clients. Amazon is a world leader due to the good relationship between the managers and staff and the customers in general. At Amazon customer is the priority.
Several amazon representatives will be sent to review and analyze what Apple, Alphabet and Microsoft companies have been doing to prepare their managers for new tasks. Opening a branch requires readiness and managers who can adapt easily to different working environments to keep the business running and fully meet customer requirements. Online sources such as journals and company websites will also help gather information from the other companies and Amazon will pick the most helpful techniques that have been tested and proven to work effectively.
The preparation of questionnaires will help in conducting interviews with the managers of the above-mentioned organizations. The researchers will not portray any character of a competitor but will be focused on obtaining information just like any other business researcher. The collected information will then be brought to the managers for analysis where they will borrow what is helpful and let go the that is not important.
From the information collected, all three companies use similar mechanisms to prepare managers to move to new workstations where the branches are opened. Fortunately, Apple, Alphabet, and Microsoft have opened several branches across the world just like Amazon hence there is more to borrow from them to remain relevant and in control of the technology industry in the world. The effectiveness of managers is among the determinant factors for the success of any given business in the world. The chart below is just a brief illustration of how managers are trained and expected to work in the organization.
Fig. 1 Role of managers
The above roles were found to be trained to the managers of Apple and Microsoft. Every manager is expected to be in control of all the operations of the organization including the employees and come up with plans for the effective delivery of goods and services to the customers. It is the role of a manager to organize the employees and command them on doing what is good for the organization to realize maximum profits at minimal costs (Wagner 2017). The last role of a manager is to coordinate the activities of the organization to ensure that everything is done properly at the right time in the right place.
Alphabet company has put different measures to ensure that there are forecast and achievable plan to determine the future of the business and the required resources are put in place to make the set objectives achievable.
The research found that there are two types of management styles namely authoritarian(or autocratic) and democratic style. In an authoritarian style, the manager is expected to tell the subordinates what to do and make decisions for them while the democratic style encourages managers to be more listeners and they involve the employees in what they do. The best style for Amazon would be the democratic style as it will give the employees a sense of belonging in the organization (Smith et al 2017). Employees will feel free to be part and parcel of the organization and will be required to work as if they are working for their own companies. Amazon is an online organization that mostly deals with invisible customers thus the company must treat the employees well to ensure that the customers are taken care of. As they say, a happy employee is a happy customer.
Currently, Amazon’s working culture is seen as the most glamorous where you won’t find employees idle and storytelling across the office. Employees take work seriously here and everyone in the world wishes to one day be an employee of Amazon. The work ethics practiced in Amazon are admirable and the employees have been able to attract customers from all over the world. Due to good management, the organization currently boasts of 100 million prime members and a market cap of about $380 billion. Amazon is among the largest private employers in the world with over 750,000 employees all over the world.
KEYS TO AMAZON’S SUCCESS AND WHAT CAN BE LEARNED
Keys to Success
Amazon has been more successful in the technology industry as compared to other companies such as Apple, Microsoft, and MasterCard among other online organizations in the world. Through innovation, the company has been able to come up with ideas and mechanisms that have never been used in other organizations. The reason for the company opening a branch in another country is because of good sales and large amounts of profits. Four main marketing strategies have led to the rise of Amazon as discussed below.
Email marketing is arguably the best strategy that the company used to become at the top of the technology market in the world. The company further developed other types of marketing emails which took users through the whole process of purchasing giving the advantages and usage of the products captured in the same email. Other companies are up to date not keeping up with the technology Amazon is using to sell products and interact with clients (Dolata 2017).
Amazon grew its market base by ratings and reviews being the first company in the world to put a review on their website where clients could rate the services provided and give their reviews. The third marketing strategy is a video where amazon normally streams videos showing their development over time and the interactions with customers. Being loyal to the customers is the final strategy. Amazon developed customer loyalty programs where customers have accounts with the company.
Improvements can be done in email marketing through going through the emails sent by customers, working on the negative reviews and rewarding customers according to their loyalty. Another area of improvement is taking recent videos or only posting videos of good moments with customers to pull customers.
What Other Companies can Learn
Other companies that wish to perform better and be prominent in the technology industry like Amazon need to adopt the four marketing strategies discussed above. The best management style in the technology industry is the democratic style of management where managers listen more from the subordinates before making any decision concerning the future of the organization (Weber & Jones 2016).
CONCLUSION AND RECOMMENDATION
All organizations are founded to make profits and become a market leader in specific industries. The technology industry grows every day and organizations in this category must be innovative to match the current technological advancements to achieve aims and objectives. Amazon started as a small company and is now one of the biggest private organizations in the world. Customers should be the main focus of any given organization in the world. I would recommend that any company that wishes to grow and boast of a large customer base like Amazon must be innovative to use modern technology in marketing and always prioritize customers. Employees must also be taken care of and given opportunities to give their contributions to the organization.
Dolata, U. (2017). Apple, Amazon, Google, Facebook, Microsoft: Market concentration-competition-innovation strategies (No. 2017-01). Stuttgarter Beiträge zur Organisations-und Innovationsforschung, SOI Discussion Paper.
Galloway, S. (2017). The four: the hidden DNA of Amazon, Apple, Facebook, and Google. Random House.
Shevchenko, E. (2020). Amazon as a global sales channel for small and medium-size Finnish companies.
Smith, A. D., Rupp, W. T., & Offodile, O. F. (2017). Amazon. com, Inc.: Retailing Giant to High-Tech Player?.
Wagner, T. A. (2017). U.S. Patent No. 9,811,434. Washington, DC: U.S. Patent and Trademark Office.
Weber, A., & Jones, A. (2016). Amazon Prime: The Ultimate Guide to Prime Amazon Membership and Internet Marketing.