Entrepreneurship: Amazon's Business Strategies and Leadership Report

This report provides a detailed analysis of Amazon's entrepreneurial journey, focusing on its business strategies, leadership principles, and innovative practices. It examines the role of entrepreneurship, as exemplified by Jeff Bezos, in building a successful e-commerce giant. The report explores key aspects such as Amazon's response to the COVID-19 pandemic, its contributions to society, and the importance of innovation in maintaining a competitive edge. It further delves into the entrepreneurial team-building process, highlighting the significance of skilled workforce, open communication, and a positive work environment. The analysis also covers the role of entrepreneurial leadership, emphasizing the importance of motivation, risk management, and fostering a shared vision. The report underscores how Amazon leverages innovation, such as Amazon Prime and Alexa, to attract customers and maintain market leadership. Overall, the study provides a comprehensive overview of Amazon's entrepreneurial success factors and offers valuable insights into its business operations and leadership style.

LUBM301 entrepreneurship
Assessment

Executive summary
Entrepreneurship plays a vital role every business man has its own personality traits
depends on the business they have to use skills and knowledge to become successful. This report
will provide detailed information about entrepreneurship and its importance in creating the job
opportunity for people. Due to global pandemic, the company Amazon have to face survival
issues such as heavy competition, more demand of products and many more. The study is going
to outline the importance of innovation and role of leaders in developing business.

TABLE OF CONTENTS
3. INTRODUCTION.......................................................................................................................3
4. Main body....................................................................................................................................3
A. Entrepreneur...........................................................................................................................3
B. about the entrepreneurial organisation...................................................................................5
C. contribution to the economy and society................................................................................9
Recommendations..........................................................................................................................11
CONCLUSION..............................................................................................................................11
REFERENCES..............................................................................................................................14
Appendix 1.....................................................................................................................................16

3. INTRODUCTION
Entrepreneurship is a systematic process of finding out ways of combining resources
which may provide support even during the crisis and make contribution to the society and
economy both. The selected organisation is amazon which is one of the most popular brand
among people as it provides a large variety of products or services in the market, many
customers are attracted towards it. The company provides products such as homeware,
electronics, groceries, clothing etc. the major purpose of the firm is to provide customers
whatever they want as per their requirements. As it a one of the largest retail company, it is
famous for its online servicing and focus on price conscious people. As we all know that covid-
19 pandemic has impacted businesses and its operations in the world, but it has been good for the
company Amazon. During the pandemic time, the company has contributed over 10,000 oxygen
concentrators which has provided support to many people who was suffering from harmful
disease. The company also provides jobs to many people which was one of the largest
contribution done by anyone. The present study will provide detailed information about the
company’s contribution during pandemic and many other things like importance of innovation,
role of Amazon as leader in the market etc.
4. Main body
A. Entrepreneur
Entrepreneur means a talented person who starts a business and is willing to take risk so
that he/she can make money and profit. to be successful it is essential to work hard and take risk
so that progress can be achieved. This is what Jeff Bezos and other team members of amazon
believes. He is one of the leading entrepreneur in the world who plays a very important role in
the growth of the company and promoting e-commerce business. As a founder of the company
he believes that the company will be the most customer centric in which all the clients can find
anything just by scrolling the application and website. Nowadays, people are spending more time
on social media and searching products online, with the help of amazon app the customers are
buying products online and getting products delivered within few days such as 3-4 days. During
corona virus pandemic, every person wants to keep themselves safe, so they make purchase by
using online website and mobile app of Amazon. The company earns more profit during covid-
19 because every customer was concern about safety, so to keep their family member safe they

decide to buy things online. So during pandemic, Amazon has earned more profit and generate
revenue as compared to other company. Jeff Bezos major goal is to provide everything that a
customer wants in their daily routine this makes the company more successful and gain good
market position even during pandemic (Stieger and et.al., 2021). In order to accomplish his goals, Jeff Bezos used a few leadership principles and having
effective personality traits that make him successful such as he is highly competitive as
compared to others, he is risk taker as he believe that to be successful one must take risk,
before implementing any strategy he always experiment so he is highly experimental. Not
only this, he is a risk taker as he started his own business with the support if parents, his
perseverance did not let him back down from the risky business. He always focuses on
innovation and something new which helped him to be one of the richest men in the
world (5 principles from jeff Bezos leadership style, 2021). While on the other side Dave
limp who is senior vice president of amazon is always focus on getting inspired by other
success story and self-motivation is one of the best personality traits he has.
 The entrepreneur creates the opportunity to be one of the leading leader in the market of
e-commerce. When the Jeff Bezos started this business he has nothing like today, with
the help of his risk taking personality traits he decided to start new business with the
support of family and do something extraordinary (10 personality traits of Jeff Bezos,
2021). so he made up his own mind to start up his business in the field of e-commerce. In
the past years, he has no money, and the only investors he had were his parents at that
time. Jeff Bezos was not sure whether he is going to make big company or not but his
perseverance did not let him back down from this risky business. Today he is one of the
richest entrepreneur in the whole world which makes him more confident while
launching any new service of products (5 principles from jeff Bezos leadership style,
2021).
 Innovative products/services introduced in the market are amazon prime, prime now,
kindle and Alexa. As we all know that technology is increasing day by day, so
entrepreneurs are using this effectively to attract more customers. Amazon Voice
responding virtual assistant is supporting to propel it forward. Customers can use this to
search anything online through Alexa voice assistant. However, the company has many

competitors such as google and apple, but Alexa is doing amazing work such as placing
orders on mobile phone and gadgets, calling someone, search anything and finding
music. Not only this, kindle is also one of the most innovative launch done by the
company, by using kindle people is able to get books at affordable price. In this way,
amazon also took control of the e-book market in the whole world. In addition to this,
prime amazon prime is the well-known product provided by the company. It gives fast
and free shipping to its prime customers. It is a good and effective marketing strategy
used by Jeff Bezos which make him different from others.
Importance of innovation
 The major benefit of innovation is it allows entrepreneur to add value into their business
so that they can easily make profits and increase it just by updating those innovations.
Hence, it is said that if the company is not able to innovate in a proper manner and not
able to adopt new strategy then their business will plateau which is not beneficial for their
market position. With the help of innovation, the entrepreneur can easily attract more
customer, as nowadays people are more attracted towards technology and easy going
innovative ideas. By having innovation, amazon is able to stay ahead of the competition
which makes the company leading brand in the field of e-commerce. With the help of
innovation, the company is able to develop the customer intimacy and build strong
relationship with them as it can resolve their unconscious biases. Innovation is the best
way to foster growth and development for business which helps to gain competitive
advantages in the world full of competition.
B. about the entrepreneurial organisation
How did the entrepreneur build the entrepreneurial team?
As we all know that in business world, entrepreneurial teams play a vital role within the
company and its success. it is said that if organisation build a team which is quite strong to
handle all the aspects and deal with difficult situation then that company will always achieved
their goals. The major purpose of building strong team is to build a stronger unit of staff
members within the organisation. Nowadays, team building is very important task that company
do as it has many benefits and can easily improves productivity within teams (Dierberger and
et.al., 2020). By having entrepreneurial team, the company can encourage collaboration and
build mutual trust between each other. It improves respect among top level management team

and bottom level management team. The company needs to build a team that includes skilled
workforce having various types of skills such as communication, vision casting, teamwork skills,
organisational skills and marketing skills. This is how amazon works, the entrepreneur Jeff
Bezos build its team that includes people who are full of knowledge and skills and work
effectively for the success of company. According to him, these skills will always be important
for the journey of company as it helps people to achieve their personal and professional goals
both. In order to build an effective team, the company needs to listen what employees are trying
to say. So, the first and basic rule of building a team is to promote open communication so that it
will provide information about the requirements and wants of people. With the help of leadership
skill, the leaders can easily fulfil the needs of staff members and build a strong relationship with
them. As per entrepreneur, there are majorly 3 things that need to be taken into consideration to a
successful entrepreneurial team such as developing a positive environment, supporting team
members in every aspect, acquiring talent, building social capital and promoting creative
organisational culture, fostering innovation within team members. For building the
entrepreneurial team, Amazon have always focused on understanding the strengths and
weaknesses of each individual and try to fix it by providing them motivational support. It is very
necessary to explain business vision to staff members, by doing so leaders can easily create a
business team as they know how to work effectively for success. The owner of the firm always
take feedback from teams about business and get them involved in decision making process
related to new innovation, systems, processes etc.
Entrepreneur’s role as leader
Entrepreneur always act as leader in the company, with the help of entrepreneurial
leadership Amazon take advantage of motivating staff members. It involves motivating and
handling people working in the firm. Risk optimization, conflict management, getting them
involved in decision making process and managing the dynamic organisational environment. as a
leader, entrepreneur always focus on developing skills and knowledge among team members and
inspire them to take action (Dierberger and et.al., 2020). Not only this they focus on encouraging
them to promote communication skills and motivational skills. People are those who drive
change done by firm and leaders are those who always encourage workers to work effectively
towards company’s goals. Entrepreneur as leader always be people-oriented and must have
leadership skills, problem solving skills etc. an entrepreneurial leader always realizes the

importance of initiative taken for the betterment of business. Leaders always try to go out of their
way to offer full support to the team members so that they can easily accomplish their objectives
and vision. Entrepreneur’s as a leader sit down with staff members to analyse what went good,
what went wrong and how to correct the mistakes done by them. In addition to this, a successful
entrepreneurial leader always inspires people to have clear goals and vision. With the help of
active listening and communication, the leader of company communicates their mission and
vision to the team and provide full support while working with them to make the things real.
In order to become a successful leader, the leader will need to make strong relationship
with people working in the company. They must unite all the staff members through a shared
vision. With the help of promoting teamwork and open communication, Amazon always focus
on working to the highest standard. The leaders must celebrate all the achievement and failure to
keep motivation high within team. It requires so much of dedication, patience, passion and self-
confidence to become a successful leader. As well as providing guidance, motivation and
direction, an effective leaders exhibit commitment and self-confidence. By doing so, they can
easily build a team who is committed to achieving common goals. To be successful leader, one
must have to take feedback from others and providing them feedback too. By doing so, Amazon
is able to help people and improve efficiency to realize its mission.
How did the entrepreneur grow the business
Growing business in the competitive world is one of the major goal of the entrepreneur.
By using research skills, the leaders of the company do research on market trends and needs of
customers. The major focus of company is increase customer retention which helps them to
improve market position in the industry (Kerr, Kerr and Xu, 2018). Amazon is focusing on
practicing CSR for the betterment of society and enhancing growth of the business. Jeff Bezos
grew business by providing varieties of products or services to customers such as kitchen
utensils, toys for children’s and providing offers on electronics. The growing network of US
warehouse helped extent what the firm could offer to customers. By using this growing network
the company is able to increase its popularity among people which helps them to build its market
position in e-commerce field. Now, after so many years of hard work, the company had become
the world’s largest online seller providing huge varieties of products or services. The company
always focus on keeping up with the customer’ s demand and market trends. The company
provides job opportunities to people. This is how the Amazon added millions of new staffs to its

workforce and provides them training and development sessions. The firm expanded its business
in different areas of the world and develop its distribution centres to handle the orders.
Not only this, the entrepreneur focus on providing high quality customer experience and
try to solve issues raised by consumers (Kerr, Kerr and Xu, 2018). The customers are given what
they want right away as per their needs and requirements. For example- during the pandemic
time, amazon was the only company who worked hard to provide online deliveries of groceries
items and required products to customers. Hence, it is said that Amazon is so successful just
because the company follows customer-focused approach.
Jeff Bezos parents always support him to build big company he got his parents to invest
in the development of his new start up. Now the company is growing faster day by day and
reaching its goals and objectives by following methods such as expanding business in e-
commerce field and focusing on promotions through advertisements, online marketing and social
media marketing. The company is famous because it offers affordable prices products, on time
delivery, customer services, provide safety while shopping etc.

C. contribution to the economy and society
As the world was facing many challenges during the pandemic time and continues to
fight with a dangerous disease, brands and companies have stepped up to provide support and
offer much needed assistance for the wellbeing of people. With the support of these companies,
the people is able to combat the crisis especially financial issues, health related issues.
Healthcare systems were under pressure to provide availability of medical and supplies (Garrett
and et.al., 2021). During that time, companies like amazon have decided to come forward and
support the economy so that people can get through this lockdown. Even during this crisis,
amazon has provided support to people such as giving jobs to needy people, making products or
service available and innovation. The firm provides medical supplies through its online website
too, offering funds for people and other form of support related to innovation such as online
purchasing of groceries items, clothing and homeware products. The firm has stepped up to
contributes over 10,000 oxygen concentrators for the support of people. Also provided support
during the vaccination time for more than 10 lakh people in the world and support employees
and executive of the firm in financial terms such as giving incentives etc.
Job creation- Amazon has provided new job opportunities to people and has announced a
commitment to create at least 1 million jobs for the betterment of society. The firm has provided
more jobs than any other brand in the e-commerce field. The firm is focusing on provided
potential investment in high quality jobs in different departments as per the qualification and
experience. the firm is also provided effective training and development sessions to people so
that it would help them innovate and learn something new. They are focusing on hiring and
selecting skilled workforce so that it would create great contribution for the society and
economy. However, the companies were forced to cut jobs in the covid-19 pandemic, but
amazon created almost 500,000 new jobs in the year 2021 at global level. Due to this, they have
increased the prosperity across the world and driving equality.
New production innovation- the company also pioneers new methods and approaches in
order to do the innovation practice. Example such as customer led innovation is one of the most
famous production innovation done by the company. During the covid-19, the company has
provided support to people as they tend to take innovation like one click buying of products or
services. People were concerned about social distancing so they decided to make purchase just

by one click purchases and get them delivered at home door step. This makes very quick and
easy method for the people during pandemic time. In addition to this, cloud computing is another
platform which helps the firm web service run even smoother and faster. With the help of this
innovative practice, the firm is able to make more profit which helps them to earn good market
position in the e-commerce sector. The firm has also focused on creating wealth which has
provided great contribution to the society and economy during pandemic time.
Survival issues
During pandemic, the company is heavily invested in providing wealth support, job
creation, supporting customers, providing benefits to employees of the firm and communities
also. The firm has provided support such as increasing safety measures for the betterment of
people and increasing paid time off for the people working in the firms (Moutinho and et.al.,
2020). During the pandemic, the company experience led to sales increased due to high demand
of online shopping, but with the time passes it converted into Issues such as:
 Pressure of providing funds- due to covid-19 the company has faced pressure with
delivery fulfilment.
 Not only this, the supply chain of the firm was hit hard resulting in out of stock notices
and delays in the products delivery. Due to Capacity issues in the warehouses they have
faced a major challenge of not enough space for more products with the increasing
demand they have to be very active and quick. The work pressure has created stress
among staff members.
 High worker turnover rates is also one of the major problem faced during corona virus.
During that time workers in the company have argued that they didn’t do enough to keep
them safe from the virus as workers have to work day and night to serve public.
Employees were not getting enough time for their family members as there were
mismanagement of working conditions (Amazon managed the crisis and came out
stronger, 2022). So, the firm focused on developing the process updates inside its
warehouses to deal with virus such as enhanced social distancing measures, following
safety measures, cleaning and hygiene and wearing mask while working. The firm have
faced issues such as regular check-up of amazon workers, they have to deal with testing
of the workers due to new coronavirus outbreaks.

 As per the statement given by the owner of the firm, he said that due to crisis, the firm
has to face demonstrating issue related to durability and adaptability of the business
operations, he said that this was the hardest time they have ever seen in their entire life.
 The firm has also faced inventory related issues so they have to arrange daily meeting so
that they can easily discuss on the updates related to covid-19 (de Souza and et.al., 2021).
With the increase in demand for sanitizer and masks availability, the firm has also
invested more in this for the safety of people.
Recommendations
 Nowadays, people are spending more time on social media platform using internet whole
day to search products or services and reading comments there. It is recommended to
focus on social media marketing and promotions more, the company can invest more in
improving its customer base. Due to heavy competition in the e-commerce retail field, the
firm need to make more investment in promotion activities.
 It is also suggested that the company can provide more benefits and compensation to
employees. The firm can provide more flexibility to employees in order to motivate them
for work effectively such as group discussion, provide them vacation, training and
development session and keep track on market trends.
 It is also advisable to use word of mouth marketing method to attract more customers. By
using this method, company can easily advertise the features of products or services to
consumers and develop trust among people.
CONCLUSION
To conclude, amazon is one of the largest retail company in the world providing high quality
products and services to customers. By evaluating the report, it has been concluded that there are
many factors which help amazon to expand their business which includes customer focused
approach, customer obsession, long term goals, critical thinking strategy and commitment to
operational excellence. Due to covid-19, Amazon has to face major issues such as pressure of
providing quality products on time such as groceries items and home ware products. However,
the positive thing was that the company provides a good wealth to customers and develops trust
among people by offering them reasonable products and offers during pandemic time.