Jeff Bezos and Amazon: Entrepreneurship, Innovation, and Leadership

This report provides an in-depth analysis of Jeff Bezos and Amazon, focusing on entrepreneurship, leadership, and innovation. It explores Bezos' personality traits, such as risk-taking and competitiveness, and examines how he identified and created opportunities, leading to Amazon's success. The report highlights innovative products and services like Amazon Prime and Amazon Fresh, emphasizing the importance of innovation for the company's growth. It also discusses the building of entrepreneurial teams, the role of leadership, and the company's contribution to society and the economy. Furthermore, the report evaluates the survival issues faced during the global pandemic, illustrating Amazon's resilience and adaptability. The report concludes by summarizing the key factors that have contributed to Amazon's success as an entrepreneurial organization.

Entrepreneurship

Table of Contents
Introduction......................................................................................................................................3
Main body........................................................................................................................................3
About the entrepreneur....................................................................................................................3
Personality traits of an entrepreneur...........................................................................................3
Discuss how the entrepreneur have recognised the opportunity or whether the entrepreneur
have created an opportunity........................................................................................................4
Innovative products and services introduced in the market and explain why innovation is
important for the company..........................................................................................................5
About the entrepreneurial organisation............................................................................................5
Entrepreneurial teams build by entrepreneurs:...........................................................................5
Role of leadership in entrepreneurship.......................................................................................7
Growth of business......................................................................................................................7
Contribution to society and economy..............................................................................................8
Evaluate the survival issues (due to the global pandemic) ......................................................10
Conclusion.....................................................................................................................................11
References......................................................................................................................................12
(How to build a successful team as an entrepreneur?, 2020) [Online] Available through
<https://yourstory.com/mystory/build-successful-team-entrepreneur/amp>.................................12

Introduction
Entrepreneur refers to the person who set up their business with the help of skills in order
to enter the market. The focus of entrepreneur is to anticipate the needs of the customers and to
innovate a good idea or product which can help the company in attracting those customers.
Entrepreneurs are generally innovators and are continuously in search of new ideas which can
help them in bringing new ideas in the market through their products and services (Fichter, K.
and Tiemann, I., 2018). In context to amazon, the company was founded by Jeff Bezos currently
serving as the Executive Chairman of Amazon. The company was incorporated in the year 1994
and the company is considered to be one of the Big Five companies of US and one of the most
influential and valuable brand. The brand is popular for its innovation and is focussing on digital
streaming, artificial intelligence, cloud computing and e-commerce. In the given report, the focus
is mainly made on entrepreneur and their organisation. The report will include the role of
entrepreneurs as well as leaders along with their contribution in the society and economy.
Main body
About the entrepreneur.
Personality traits of an entrepreneur
Jeff Bezos is a successful entrepreneur, media proprietor, computer engineer and an
investor who have started his e-commerce company in the year 1994. Brining different products
and services in the market company started gaining good profits and in the year of pandemic
Amazon have grown their business by 38% which is around $386 billion. But for achieving this
success Jeff Bezos have developed many things in his personality which has been discussed
below-
Risk taker- Entrepreneurship is all about taking risk because the success of the business can be
accomplished when the person is ready to take any risk which comes in their way. Jeff
Bezos is one of that personality who have taken risk in every way just to found the best
opportunity to meet the objectives of a company(Ribes-Giner and et. al., 2018). In the
starting of his business he was not having any investors to make the investment except his
parents and now the company have attained a good position in the market. But taking risk is
not always easy and it involves huge investment by the entrepreneur and if that risk taking
have not achieved success then it might bring losses.

Innovating personality- Jeff Bezos have always tried to make innovation whether it is to bring
different product line or to bring new services in the market he have always tried to add
innovating feature in that which has laid in brining success to the company(Mehmood and
et. al., 2019) . But sometimes bringing more innovation might disrupt the usual working of
an employee and for that they have to develop more skills in them in order to learn new
things which is a timely process.
Highly competitive- Highly competitive personality means that the person has the strong
admiration to win in the market which Jeff Bezos always wanted to in order to gain
competitive advantage. For this only he has reduced the prices of the products against that of
its competitors so that consumers does not make the purchases from that company. But this
has made the negative image of Bezos in the market and because of this reason many
businesses have been collapsed.
Discuss how the entrepreneur have recognised the opportunity or whether the entrepreneur have
created an opportunity
Identifying opportunity is the most important things which the entrepreneur can do in
order to achieve success in the market. Successful entrepreneur always look for opportunity and
when they don't find any they have to create some of the opportunity which they can use in their
business. Jeff Bezos have done both and this is the reason why the Amazon have achieved
success in the market compared to that of other similar companies(Rezazadeh and Nobari,
2018). He have always tried to make research in the market and on the basis of research he
makes the analysis as to which factor can bring success and bring more customers towards the
business. So for this, he have collected the information as to what are the market trends and what
things consumers can demand. This is the only way by which changes can be brought by them
and they can avail the opportunity because there are chances that consumers will like the
products brought by them.
Jeff Bezos also believes in creating an opportunity and for that he made the purchases of
many small business and have acquired the rights of that business. They have always tried to put
focus on their products which are core in their business and because of making improvement in
that business segment they have created a good opportunity to build good business goodwill in
the market. With the time passes by, they have checked on to the likes and dislikes of the
consumers as to what they expect from the company and what things they want to undertake

from Amazon(Durmuşoğlu, 2018). They have always tried to look upon that segment of
consumer which will and can make the purchases from the e-commerce website of Amazon.
Good marketing strategy and always offering to the consumers good amount of discount has
helped the business to gain considerable amount of revenue during pandemic.
Innovative products and services introduced in the market and explain why innovation is
important for the company
There are many new and innovative things which the Amazon have come upon in which
the first and the most famous one includes the Amazon prime and during the pandemic this thing
have becomes the mots important things for the consumers. In Amazon prime the individual can
watch any movie show, series any things based on the entertainment and for that they on;y have
to provide the monthly subscription. With that the prime members are also having the benefit of
fast delivery in which the products which will be ordered by the customer will be delivered
within the next day(Bozhikin, Macke and da Costa, 2019). The other thing which Jeff Bezos
has provided and have become the most famous one is the Amazon fresh in which the consumers
can make the order from the fresh produce and developed grocery store of Amazon which is
giving the benefit to consumers in numerous ways. Consumers can make the order and the order
will be delivered to them within next 2 hours and they can eat which is ready to eat and heat.
The main reason why Amazon have become successful is because of the factor of
innovation which have been developed not in the products and services which they are delivering
but also in the work culture which they have adopted. The company is consumer oriented and
because of that they have developed different tools which will help the consumers to keep the
tracking of their products and to return the product in a more quick way. To bind the consumers
towards them the company has to make innovation and Amazon is only famous for its innovative
outlook which they do in the business. They have made the innovation even in delivering the
products which includes that robots will be providing the products to the people.
About the entrepreneurial organisation
Entrepreneurial teams build by entrepreneurs:
Most of the enterprises does not sustain as they fails to find the right team. Th
entrepreneurs have futuristic and innovative thinking and it is important for them to make sure

that their teams have the same thinking process otherwise the entrepreneur will not be able to
match or coordinate the goals and objectives of themselves with their teams
(How to build a
successful team as an entrepreneur?, 2020). Just having a great ideas is not sufficient and it is
important for the entrepreneur to invest their time and money in building a team so that they can
bring right competencies to work. Some of the strategic and practical ways of building a team is
given below:
Create job roles which can match the organisational requirements: It is important for the
organisation to create a job role according to the requirements of the organisation as in that way
they will be able to attract the right talent in the organisation. If the organisation is unable to
provide correct job role then they will attract the workforce which will not be able to match the
expectations of the organisation and at last will not be able to help in achieving the goals and
objectives of the company.
Invest time in building team from right people: The entrepreneurs must have a clear idea
about the type of people that they need in their organisation. If they are not clear then they will
not be able to select the right personal for the right job. When the company is able to select right
people then only they will be able to build a strong and effective team.
Look for right approach and attitude: The attitude and approach of an enterprise towards
its employee plays a major role in the workings of the company (Bates, T., Bradford, W.D. and
Seamans, R., 2018). The enterprise must either choose a savvy HR who can recruit talent in the
organisation or they can also give this task to a good agency. With the help of psychometric and
personality tests, the company will be able to find efficient and talented employees.
Team engagement: The company must engage their team members in the various
activities of the company. It is important for an entrepreneur to indulge with their teams on
regular basis like Friday lunches or weakened get together which will help in creating a bond in
between team members. This will help the organisation in giving an understanding about the
progress and growth that the entrepreneur wants to provide to their employees.
Learn from failure and celebrate success together: The work culture of an organisation
must make sure that they win as a team and they fail as a team. If their is a blame game in the
workplace then their will be no growth. The entrepreneur must make sure that they are not
blaming failure on a particular employee or team and is celebrating success together.

Be an ideal leader: It is important for an entrepreneur to continuously try to be an ideal
leader. Leadership plays an important role in team building and by having effective and efficient
leadership quality, the entrepreneur can enhance the productivity as well as the motivation of the
team.
Role of leadership in entrepreneurship
It is important for an entrepreneur to become an ideal leader for their team and its
members. No one is perfect but at least the entrepreneur must try to become an ideal leader for
its team. The leader have the power to motivate their team and will also be able to increase the
productivity of the organisation. Leadership skills will help the entrepreneur in developing a
strategic vision. It is important for an organisation to have a proper strategy which can help them
in achieving their goals and objectives (Kuratko, D.F. and Morris, M.H., 2018). It will also help
the company in attracting and retaining right talent for the organisation. It is important for
entrepreneur to have a healthy ego but it is also important for them to admit that they cannot do
every thing on their own. In order to be an effective leader the entrepreneur must make sure that
they are influencing their teams in the right way so that their teams can get correct directions and
will also be able to achieve their goals and objectives effectively. The entrepreneurs must
develop team spirit in their organisation which will help the team members in better
collaboration and will also develop a strong bond in between the team members of the
organisation.
Growth of business
Family plays a important role in the success and failure of an entrepreneurial venture.
The decision of entrepreneur of whether to start a business or not is highly supported by passion
and family support. If the entrepreneur is not having the support of his or her family then they
will not be able to give their 100% in a particular task (Shepherd, D.A. and Zacharakis, A.,
2018). The growth of the business is highly dependent up on the support of family. The strength
of an entrepreneur increases when they have support of their family. In context to Jeff Bezos, at
the initial stages of his entrepreneurial venture Amazon, the parents of the entrepreneur nearly
invested $250000 in the year 1995. The worth of those $250000 is around $30 billion today
which is a huge amount. With the support of family and friends, Jeff Bezos has reached to the
top and has also become the richest man in the world.

Contribution to society and economy
Entrepreneurship is an important factor in the economy for a number of reasons such as
promoting social change, promoting innovation and enhancing the workings of the market by
providing perfect competition situation. Entrepreneurship has the ability to increase the standard
of living of people associated with the business and have the ability to create wealth.
Entrepreneurs bring new and innovative products in he market and help in providing products
which are according to the preferences of the customers (Sá, C. and Holt, C., 2019). As the
markets are continuously changing and it becomes very difficult for the companies to survive
and quick decision making skills of an entrepreneurs helps the business in surviving. In context
to Jeff Bezos, the founder and executive chairman of Amazon is highly contributing to the
society and economy as Amazon is one of the world's most influential cultural and economic
forces. The company was started as an online retailers for books and eventually started selling
other products and now the company owns around 40 subsidiaries which are working towards
providing innovative products to the customers of the company. He company is providing
benefits to the society and economy in various ways and some of them are given below:
Job creation: It is one of the major factor through which the company can provide benefit
to the society. Providing employment opportunities to the society is one of the major way
through which the company can not only enhance the standard of living of people but will also
help in wealth creation and will also help in increasing the purchasing power of the customers
(Durán-Sánchez and et. al., 2019). Employment opportunities will be provided by the company
everything they enter a new market or expands their business. Job creation will help the society
in providing correct direction to their youth and will also provide a better career for their future
growth. In case of Amazon, the company is currently having 1298000 employees working for the
company in US and another countries. This is a massive number for any organisation. The aim of
the company is to provide better working conditions to the employees and also to provide them
better opportunities for growth. The company wants their employees to experiment and become
creative so that they can get innovative ideas.
New product innovation: In order to survive in the market and in order to add value to the
products of the enterprise, it is important for the enterprise to make sure that they are involving
innovation in their products. The bargaining power of buyers is high in the long existing products
and it does not provide any additional value to the customers but if the company brings in any

new product in the market then the bargaining power of buyers will be very low. The customers
will be willing to pay higher prices for innovative products as they will be providing higher value
to the customers. As the industry and the markets are highly dynamic, it is important for the
enterprise to make sure that they are continuously involving innovation in their products and
services as it will help them in providing products to the customers according to their taste and
preferences. It will help the enterprise in become highly flexible and will also involves creativity
in the workings of the company (Baier-Fuentes and et. al., 2019). It will help the organisation in
getting creative and innovative ideas and will enhance the involvement of the workforce which
will create a positive working environment. Innovation in products will help the company in
attracting new market segment and the company will be able to reach to its wider and potential
customers. In case of Amazon, the company is one of the most innovative companies n the
world and it can be seen in the products and services of the company. For example, the company
launched Amazon Explore which is a device capable of providing virtual experiences to its
customers. The customers can choose for 250 travel destinations and they will be able to explore
that destination from home. In the current time of pandemic, it is very dangerous to travel and
this device will help customers in getting the experience at the comfort of home.
Wealth creation: Wealth is created by an enterprise by provide best in class and unique
products to it customers. The product of the company if providing value to the customer of the
company will make wealth for the entrepreneur. If the enterprise is working effectively and
efficiently, then only the company will be able to create wealth. The enterprise are managed on
the “going concern” basis which means no enterprise is started in order to get closed one day.
Each and every enterprise while starting business in the market assume that they are going to
survive for a long duration of time (Gali and et. al., 2020). The long term survival of a business
is possible only if the company is able to make wealth otherwise the company will face losses
and eventually will collapse. In order to create wealth it is important for the company to have
competitors advantage in the market s in that case the company will be able to attract large
amount of customer and will also be able to have high profitability. In case of Jeff Bezos, he is
the richest entrepreneur in the world according to Forbes and Bloomberg's Billionaire Index.

Evaluate the survival issues (due to the global pandemic)
Disturbance in supply chain: The company has a massive supply chain model and the
profit of the company is also affected by the supply chain model of the company. If the company
wants to earn profits and increase the revenue then it is important for the company to have an
effective and efficient supply chain model. Due to the pandemic the companies have to face
major issues in the supply chain management of the company (Fischer and et. al., 2019). As the
lock down has severely impacted the workings of the supply chain. The product was not being
able to reach to the distributor timely also the company was unable to provide their products
timely to their customers due to restrictions on delivery services. It has also impacted the
reputation of the company as people have received wrong parcels and wrong products which is a
loss for the company. In case of Amazon, the company has faced issues in providing products to
its customers. The company must have to provide products in one day to Amazon Prime
members but their was delay in that segment as well due to the pandemic and restrictions.
Quality issues in perishable goods: As the company was not being able to provide their
services timely, the perishable goods provided by the company was a major issue. Due to the fear
of virus and pandemic, customers were leaving their packages in sunlight in order to sanitize
them which was having a bad impact on the quality of perishable goods. The fresh products
provided to the customers were spoiled due to high exposure to sunlight (Ratten, V., 2019). The
product will become unsafe for consumption and the company may have to face severe charges
for that. In case of Amazon, as the company is providing products online, it was beneficial for
the company and they did not faced major issues due to pandemic. The company was in profits
despite of lock down and pandemic and one of the major factor that helped the company during
pandemic was its strong management and flexibility due to innovation.

Conclusion
From the above report it is concluded that, entrepreneurs plays a major role in the
economic and social development of any country. Entrepreneurial ventures are important for an
organisation in order to generate large amount of employment opportunities in an economy. It
will help in wealth creation and in enhancing the standard of living of people. Innovation on the
other hand in an organisation create and add value in the products of the company and helps the
company in attracting large amount of customers. Teams are an important part of any
entrepreneurial venture as effective teams can be a reason of success as well as ineffective teams
can leads to failure. Leadership also plays a major role in the management of an organisation as
it will help the organisation in attracting and retaining environment also will create a positive
working environment for the employees. Positive working environment promotes growth and
will also help the organisation in motivating the employees to perform better. In order to achieve
the gaols and objectives of an organisation, it is important to have an efficient and effective
entrepreneurs as well as a team which can understand the vision of that entrepreneur.

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Online(How to build a successful team as an entrepreneur?, 2020) [Online] Available through
<https://yourstory.com/mystory/build-successful-team-entrepreneur/amp>