Analysis of Entrepreneurship: Jeff Bezos and Amazon

This report analyzes the entrepreneurship of Jeff Bezos, CEO of Amazon, and the qualities that have made him successful in the ecommerce industry. It discusses his main attributes, personality, business, products, services, process, challenges, and leadership style.

Running head: ANALYSIS OF ENTREPRENEURSHIP
ANALYSIS OF ENTREPRENEURSHIP
Name of the Student
Name of the University
Author Note

1ANALYSIS OF ENTREPRENEURSHIP
Executive Summary
The report is based on the analysis of entrepreneurship based qualities that have been
depicted by the leader of Amazon, Jeff Bezos. The qualities of Bezos that have been able to
provide a profitable position to the organization in the industry has been a major part of the
discussion. The major attributes of the entrepreneur which had made him successful in the
industry have been analysed in the report. The personality and approach of the CEO of
Amazon has also been discussed and analysed in detail. The products and services that have
been offered by the organization is a major part of the analysis. The process which was
followed by Jeff Bezos in searching the opportunities and further establishing the business
has been analysed in the discussion.

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Table of Contents
Introduction....................................................................................................................3
Discussion based on the entrepreneurship of Jeff Bezos...............................................4
Main attributes of entrepreneurship of Jeff Bezos.....................................................4
Personality and personal approach of Jeff Bezos.......................................................6
Business, products and service of Amazon................................................................6
Process involved in entrepreneurship of Jeff Bezos..................................................8
Challenges faced by Jeff Bezos..................................................................................8
Conclusion......................................................................................................................9
References....................................................................................................................10
Appendices...................................................................................................................12
Appendix 1...............................................................................................................12
Appendix 2...............................................................................................................12

3ANALYSIS OF ENTREPRENEURSHIP
Introduction
Entrepreneur is considered to be an individual who runs a business organization
instead of working under anyone else. The entrepreneur is thereby an innovator who is able to
provide new ideas, services and gods to the customers. Entrepreneurs are able to play an
important role in the ways by which risks are taken in new business ventures. The
entrepreneurs who are willing to take risks are also provided by profits, continued
opportunities of growth and fame (Baldacchino et al. 2015). Entrepreneurs have to face many
obstacles while building their new business ventures in an effective manner. The most
common challenges that are faced by entrepreneurs in the market include, hiring of talent,
overcoming high rates of bureaucracy and further acquiring proper finances as well. Many
huge business organizations which are currently operating in different industries have been
set up by the entrepreneurs (Alvarez & Barney, 2017).
The report will be based on the analysis of the entrepreneurship based activities that
have been performed by the CEO of Amazon, Jeff Bezos. Bezos has been immensely
successful in his endeavours which were taken based on the successful operations of Amazon
in the ecommerce industry. The CEO has been a major part of the success that has been
gained by the company in the market within a short period of time. Bezos has been able to
provide the organization a profitable position in the industry with the help of different
policies that have been formulated by him. The report will thereby provide an analysis of the
journey of Bezos as an entrepreneur of the organization and ways by which he has been able
to create a different image in the technology industry (Amazon.com: Online Shopping for
Electronics, Apparel, Computers, Books, DVDs & more., 2018).

4ANALYSIS OF ENTREPRENEURSHIP
Discussion based on the entrepreneurship of Jeff Bezos
Main attributes of entrepreneurship of Jeff Bezos
Jeff Bezos had started the operations of Amazon from a garage which later on proved
to be a recognized portal for online shopping activities. Amazon is an absolute brainchild of
Jeff Bezos and this company had been able to make him the king of internet. The company
has a current net worth of more than 106 billion US Dollars. Bezos has acquired the topmost
position as the world’s richest person based on the huge success of Amazon in the online
retail market. Bezos has been recognised as a risk taker and ruthless boss who is highly
concerned about the productivity of employees (Beaver et al., 2017). The traits of the
entrepreneur which have helped him in creating the successful position of the organization in
the technology industry are as follows,
 The knack for innovation which has been a quality of Bezos from the start of
the operations of Amazon. Bezos has been innovative in his personal life and
his professional endeavours as well. Bezos has always shown a hunger for
innovation in different activities of the organization in the industry. The drive
that has been created by Bezos is based on his hunger for the development of
new and innovative products. The online portal which was mainly designed
for the purpose of selling books, had later on started selling all types of
products that are required or desired by the customers (Burton, Sørensen &
Dobrev, 2016).
 Another personality trait of Bezos that has been able to provide him with a
successful position in the industry is that he is a realist and has always
weighed different possibilities before taking any decision. Bezos was always
ready to accept the failure of the website before he had decided to launch it on
a public platform.

5ANALYSIS OF ENTREPRENEURSHIP
 Bezos has followed a unique theory which has been termed as the “Regret
minimization framework”. Bezos believed in analysing the different factors
that he would regret the most before taking any decision that was able to affect
the lives of employees (DaSilva, 2018).
 Bezos has been constantly experimenting with the new technologies that are
available in the market in order to provide the best services to the customers.
The CEO of Amazon therefore has an infatuation for experimenting with the
technologies that can be used in different organizational processes.
 The process by which Bezos has started the organization is based on rough
planning. However, Bezos has always advised people to plan the entire
venture beforehand in order to achieve success in the industry (DeTienne &
Wennberg, 2016).
 Bezos has been a risk taker and he has taken huge amount of risks in the
business operations in a calculated manner. The high amounts of risks have
provided huge returns to the CEO of Amazon.
 Bezos has invested in many good causes which have been able to create an
image of the leader in the industry. Charity based activities have been a major
of the journey of Bezos in the technology industry (Kellermanns et al., 2016).
 Bezos is a huge fan of science fiction based books and movies and he was a
nerd in his early days.
 Bezos has a highly competitive character and he has been able to create a
competitive position of the organization with the help of his operating process.
The competitors who are a part of the technology industry have been
successfully chased by Amazon (Keskinen, 2017).

6ANALYSIS OF ENTREPRENEURSHIP
Personality and personal approach of Jeff Bezos
The philosophy of business and leadership of Jeff Bezos was quite different from the
other famous entrepreneurs in the technology industry. The prime focus of the CEO of
Amazon has always been the customers. He has been able to acquire the position of the
topmost businessman of the world. He has also become quite powerful with the help of his
unique policies. The positive vision that has been created by Bezos has been a major reason
behind the success of Bezos and his organization as well. Bezos had done his first job on an
organization named Fitel. He was then hired by an organization which operated in the stock
market (López‐Fernández, Serrano‐Bedia & Pérez‐Pérez, 2016).
In spite of the great salary and huge opportunities Bezos decided to leave the job and
chase his dream of creating a successful organization. The online store was first only based
on the selling of books which further started selling all other kinds of retail based products.
The sheer dedication of the CEO and attention that he paid to the customers had become the
major reason behind his success in the online retail industry. Bezos has held many important
traits that are required for becoming a successful leader. The leadership style that has been
followed by Bezos in Amazon is quite different in nature (Marvel, Davis & Sproul, 2016).
The management style that is followed by Bezos is different from the others in the industry.
The success story of Bezos has been based on the ways by which he has provided Amazon
with an effective position in the industry. Bezos is characterized as an ultra-driven and hyper-
intelligent individual. He has a dual a personality which sometimes makes him
compassionate and sometimes rough as well (López‐Fernández, Serrano‐Bedia & Pérez‐
Pérez, 2016).
Business, products and service of Amazon
Amazon had started its business by selling books online and the organization later on
expanded its operations in the sales of different kinds of products and services. The

7ANALYSIS OF ENTREPRENEURSHIP
ecommerce organization was further able to expand in many different countries of the world
with the help of its innovative offerings and excellent customer service as well. The products
and services that are provided by the organization to the customers have been able to create a
loyal base all over the world. Bezos has given high importance to the customer relationships
and the employees were given a training based on the ways by which they can deal with
them. Amazon has been able to provide the customers with the products that they wish. The
position that has been created by Amazon in the online retail industry has been possible due
to the customer-centric nature of its operations (Müller, 2016).
Bezos has given huge importance to the services which are provided to the customers.
The employees of Amazon have been made an important part of the vision that has been
created by the CEO of the organization. The leadership based lessons that were provided by
Bezos to the customers have been repetitive in nature and he has given importance to
employees from the start of the operations of Amazon. The products that are offered by
Amazon are the retail goods which includes the product lines based on several media like,
books, music CDs, DVDs, software, consumer electronics, apparel, beauty products,
groceries, gourmet food, health items and personal care items (Rawhouser, Cummings &
Newbert, 2017).
A service based on web auctions is also provided by Amazon. Amazon Prime is a
major service that has been launched by the organization in order to provide special services
to the loyal customers. The customers who become a part of the of this membership plan are
thereby provided some major benefits by the organization. The digital content based services
that are provided by Amazon to the customers has also become a major part of the success
that has been gained by the company. The products and services that have been offered by
Amazon has thereby been able to create a profitable position of the organization in the online
retail industry (Siqueira, Webb & Bruton, 2016).

8ANALYSIS OF ENTREPRENEURSHIP
Process involved in entrepreneurship of Jeff Bezos
Bezos had a settled life and job in an organization before he decided to start his own
organization. The operations of the company were started by the CEO in a garage with a
handful of people. Bezos had been able to identify a major opportunity in the online sales
industry. He started the business with the help of selling books and later on the business
operations were based on online retailing of the products. The process that was followed by
Bezos in making the organization successful was based on the ways by which the leader is
able to share the vision with the employees (Trehan, Higgins & Jones, 2018). The vision that
was seen by Bezos for Amazon had been shared effectively with the employees. This helped
the leader to provide appropriate services to the customers so that they are able to retain the
loyal base. The employees have sometimes been pressurised as well to keep in track with the
needs and desires of the customers. The customer first based vision of the organization has
been the most effective process which has led to the identification of opportunities to the
commercialisation of the activities (Welter et al., 2017).
Challenges faced by Jeff Bezos
The industry in which Amazon has its operations is highly competitive in nature and
Bezos has faced some major challenges while leading the organization. The leader had to
implement some major innovations in order to maintain the position of the organization as
compared to the competitors. The business model of Amazon has also built huge pressure on
the CEO of the organization. A recent decision based on business expansion that has been
taken Bezos of purchasing the Washington Post can pose a huge challenge to the leadership
and profits of the organization (Trehan, Higgins & Jones, 2018).

9ANALYSIS OF ENTREPRENEURSHIP
Conclusion
The report can be concluded by stating that the entrepreneur has been successful in
the ventures that were made by him throughout his journey. Bezos has been able to create a
profitable position of the company in the ecommerce industry with the help of his effective
leadership. The products and services which have been offered by the company to the
customers is also based on the efficiency with which Bezos was able to lead the employees.
The challenges that have been faced by Bezos in the industry are mainly based on the
competitiveness of the organization. The CEO of Amazon has however been able to take care
of the challenges that the organization has been facing in the online retail industry. The
challenges have helped the entrepreneur to provide high levels of competition to the other
large organizations in the online retail industry.

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References
Alvarez, S. A., & Barney, J. B. (2017). Resource‐based theory and the entrepreneurial
firm. Strategic entrepreneurship: Creating a new mindset, 87-105.
Amazon.com: Online Shopping for Electronics, Apparel, Computers, Books, DVDs & more.
(2018). Retrieved from https://www.amazon.com/
Baldacchino, L., Ucbasaran, D., Cabantous, L., & Lockett, A. (2015). Entrepreneurship
research on intuition: A critical analysis and research agenda. International Journal of
Management Reviews, 17(2), 212-231.
Beaver, G., Jennings, P., Bergman, B., Katz, J. A., Corbett, A. C., Cao, K., ... & Colbourne,
R. (2017). Rethinking the social role of entrepreneurship. In Hybrid Ventures (Vol.
12, No. 1, pp. i-xv). Bingley, UK: The Free Press.
Burton, M. D., Sørensen, J. B., & Dobrev, S. D. (2016). A careers perspective on
entrepreneurship. Entrepreneurship Theory and Practice, 40(2), 237-247.
DaSilva, C. M. (2018, July). Business Model Innovation In Dynamic Environments: A
Process Model For Entrepreneurship. In Academy of Management Proceedings(Vol.
2018, No. 1, p. 12032). Briarcliff Manor, NY 10510: Academy of Management.
DeTienne, D., & Wennberg, K. (2016). Studying exit from entrepreneurship: New directions
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Kellermanns, F., Walter, J., Crook, T. R., Kemmerer, B., & Narayanan, V. (2016). The
resource‐based view in entrepreneurship: A content‐analytical comparison of
researchers' and entrepreneurs' views. Journal of Small Business Management, 54(1),
26-48.

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Keskinen, J. (2017). Book review: Dynamics of international business: Comparative
perspectives of firms, markets and entrepreneurship.
López‐Fernández, M. C., Serrano‐Bedia, A. M., & Pérez‐Pérez, M. (2016). Entrepreneurship
and family firm research: A bibliometric analysis of an emerging field. Journal of
Small Business Management, 54(2), 622-639.
Marvel, M. R., Davis, J. L., & Sproul, C. R. (2016). Human capital and entrepreneurship
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Practice, 40(3), 599-626.
Müller, S. (2016). A progress review of entrepreneurship and regional development: What
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Rawhouser, H., Cummings, M., & Newbert, S. L. (2017). Social impact measurement:
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Siqueira, A. C. O., Webb, J. W., & Bruton, G. D. (2016). Informal entrepreneurship and
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Trehan, K., Higgins, D., & Jones, O. (2018). Engaged scholarship: Questioning relevance and
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Welter, F., Baker, T., Audretsch, D. B., & Gartner, W. B. (2017). Everyday entrepreneurship
—a call for entrepreneurship research to embrace entrepreneurial diversity.

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Appendices
Appendix 1
Appendix 2

13ANALYSIS OF ENTREPRENEURSHIP