Jeff Bezos' Entrepreneurial Journey: A Critical Review of Interview

This is a critical review of Jeff Bezos' interview with Mathias Dopfner, CEO of Axel Springer, focusing on Bezos' entrepreneurial journey as the founder and CEO of Amazon.com. The review highlights Bezos' transition from a Wall Street employee to an entrepreneur driven by his passion for computers and a desire to improve existing systems. It discusses the motivations behind entrepreneurship, such as creativity, innovation, and self-actualization, noting the influence of Bezos' grandfather, parents, and wife. The review explores the entrepreneurship life cycle, emphasizing the importance of opportunity recognition and market analysis. It also addresses challenges faced by Amazon, such as competition from Barnes & Noble, and how Bezos' focus on customer satisfaction helped overcome these obstacles. The analysis identifies key entrepreneurial traits exemplified by Bezos, including creativity, innovation, commitment, and a customer-centric approach. The review concludes that entrepreneurship requires commitment, determination, and a focus on customer satisfaction, and emphasizes the importance of pursuing one's passion and building strong relationships. Desklib provides similar solved assignments for students.

Running head: ENTREPRENUER JEFF BEZOS INTERVIEW 1
Critical Review of Entrepreneur Jeff Bezos’ Interview – Founder and CEO of Amazon
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Critical Review of Entrepreneur Jeff Bezos’ Interview – Founder and CEO of Amazon
An entrepreneur is a person who instead of working as an employee, sets up an
innovative venture and runs it while assuming all risks and rewards of the business.
Entrepreneurs are generally innovators and people with strong character who can bear the burden
of actualizing an idea in to a business (Korsakiene & Diskiene, 2015). Today, entrepreneurs top
the list of the wealthiest people in the world because of the fortunes made through their business
ventures. This essay is a critical review of Jeff Bezos’ interview with Mathias Dopfner CEO of
Axel Springer concerning Bezos’ entrepreneurial journey. Jeff Bezos is the founder and CEO of
Amazon.com, the world’s leading Ecommerce Company. The Forbes magazine ranked Jeff
Bezos as the world’s top richest person in 2018 with a net worth of $156.8 billion US dollars.
Many people decide to be employees of professionals because of the “security” that is
associated with it. Employees do not bare the ultimate risk of running the business since they are
assured of their salary despite company performance. On the contrary, entrepreneurs bear the
real burden of the business because they bear the risk of the venture (Alam & Islam, 2017). The
pump their capital and time in to the venture with the hope that it would generate returns. Jeff
Bezos from the time he was a kid, always thought that he could make a change. He could notice
something wrong with almost everything and thought that there was a way to improve. Initially,
he worked an employee at Wall Street companies. He recounts that his first job after graduation
was at Fitel firm. He then moved to Bankers Trust and D.E Shaw before quitting his lucrative
career in finance to launch an internet bookstore.

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There exist many reasons why some people prefer to be entrepreneurs although they
might vary from one person to another. Entrepreneurs are generally creative and innovative
people (Golden, Daron, Schumacher & Thomas, 2017). As employees, they might not have the
opportunity to implement their creative ideas and therefore, turn to entrepreneurship. Other
people pursue entrepreneurship as they seek to fulfil their self-actualization needs since it comes
with freedom, and possibility of high returns (Kirzner, 2015). Bezos was committed to his
passion for computers. He was also motivated by his grandfather who managed his ranch with
great skill. He recounts that his grandfather understood his business very well such that he could
do much of the tasks by himself. His parents and wife were also on his side providing him with
moral and technical support (Business Insider, 2018). After gaining experience from his previous
jobs, Bezos was daring enough to quit employment and the “security” that is associated with it
for his own business- an online bookstore at a time when many people did not know what the
internet was.
The entrepreneurship life cycle is a process that starts from the identification of an
opportunity (Kim & Maukiene, 2017). The entrepreneur then focuses on the opportunity and
commits time, financial, and labor resources with the aim of introducing a new product in to a
market. The opportunity recognition stage is a gestation period where the entrepreneur
brainstorms the business idea with the aim of understanding the requirements, risks, and possible
returns of the venture (Scarborough, 2016). Turning an idea in to a venture is not an easy thing.
Research findings report that many people never actualize their ideas. Jeff Bezos notes that he
always wanted to start a business associated with computers. I agree with him that
entrepreneurship becomes more successful when it is motivated by passion. In such a scenario,

ENTREPRENUER JEFF BEZOS INTERVIEW 4
the entrepreneur is motivated to work even when the venture is not performing as per the
owners’ expectation.
In 1995, Bezos launched Amazon.com as website that sold books. Even though, he had
the vision to have Amazon selling almost everything, he began by offering books (Lopez, 2017).
Now, Amazon sells almost every item ranging from electronics to furniture. He also began with
few employees and hire more as the company grew. Market analysis enables an entrepreneur to
identify market gaps (Rothaermel, 2015). The interviewee discovered that the internet could be
used as market place in order to serve many individuals beyond regional boundaries and went
ahead to take the opportunity of commercializing his venture. Individuals can obtain information
on entrepreneurship and markets from online sources, media, brainstorming, and market
happenings.
In the interview, Bezos notes that in 1997, the company was faced with huge financial
challenges when their then competitor Barnes & Noble opened their website. Amazon at that
time had employed 125 employees while the competitor has more than 30,000. Its sales revenue
was around $60 million, while Barnes & Noble had recorded $3 billion in sales. Through the
determination of the founder, the company successfully overcame the storm by concentrating on
customer satisfaction.
Entrepreneurs are believed to possess common traits that enable them to convert their
ideas in to action. Their personality also enable them to remain focused to their goal even while
facing challenges in their business (Drucker, 2014). In addition, traits determine the
entrepreneur’s leadership style which contributes greatly to his relations with employees and
other business stakeholders (Kuratko, 2016). Through the interview, it is notable that Bezos is a
creative and innovative person. He launched an online company at a time when few individuals

ENTREPRENUER JEFF BEZOS INTERVIEW 5
knew what the internet was. Through his leadership, his firm has continuously moved with
technological advancements in the market. Unlike other business leaders, Bezos believes in an
ocean strategy that concentrates less on competitors and more on satisfying their customers.
Furthermore, he exemplifies great commitment and passion for success, traits that have enabled
his company to grow its assets, revenue, and customer base.
In conclusion, Jeff Bezos is an entrepreneur who has great entrepreneurial insights from
his experience. He has established himself as authoritative voice in the business industry.
Through the interview, I learnt that entrepreneurship requires commitment and determination.
Additionally, entrepreneurs should emulate Bezos by concentrating more on satisfying the
interests of customers than the threat of competitors. Launching business around your passion
also increases the chances of success in business. Finally, maintenance of good relationship with
friends and family enhances success in entrepreneurship. The interview has changed my
perception about entrepreneurship and empowered me with important insights that would enable
me run my projects better by defining the vision and persistently working towards it. The story
of Bezos has encouraged me to focus less on employment and more on building an innovative
business that would fill a gap in the society. As an entrepreneur, I would be of more help to the
society by creating job opportunities for other people.

ENTREPRENUER JEFF BEZOS INTERVIEW 6
References
Alam, S., & Islam, M. (2017). Impact of Blue Ocean Strategy on Organizational Performance: A
literature review toward implementation logic.
Business Insider. (2018, May 5) “Jeff Bezos talks Amazon, Blue origin, Family, And wealth” [Video
file]. Retrieved from https://www.youtube.com/watch?v=SCpgKvZB_VQ&t=38s
Drucker, P. (2014). Innovation and entrepreneurship. Routledge.
Golden, S., Daron, J., Schumacher, J., & Thomas, E. (2017). Illuminating Entreprenuership.
Kirzner, I. M. (2015). Competition and entrepreneurship. University of Chicago press.
Kim, W. C., & Mauborgne, R. A. (2017). Blue Ocean Strategy with Harvard Business Review Classic
Article “Red Ocean Traps” (2 Books). Harvard Business Press.
Korsakiene, R., & Diskiene, D. (2015, November). Personality traits of managers and success of firms: a
case of Lithuanian SMEs. In European Conference on Management, Leadership &
Governance (p. 194). Academic Conferences International Limited
Kuratko, D. F. (2016). Entrepreneurship: Theory, process, and practice. Cengage Learning.
Lopez, E. (2017). UPS, Amazon Invest Heavily in Logistics Networks to keep up with E-
Commerce. Supply Chain Dive, 28.
Rothaermel, F. T. (2015). Strategic management. McGraw-Hill Education.
Scarborough, N. M. (2016). Essentials of entrepreneurship and small business management. Pearson.

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Appendix 1: Summary of interview questions and answers
Dopfner: Where do your ambitions come from?
Bezos: I have no idea. I am passionate about some things. I was in love with computers since
fourth grade and so I launched an e-commerce company.
Dofner: What role did your relationships contribute to your business success?
Bezos: My parents, grandfather, and wife were so supportive.
Dofner: One challenge you faced in your company that you won’t forget?
Bezos: In 1997, two years after we launched our website, our competitor Barnes & Noble
launched its website too. People though we won’t survive. But we kept a Blue
ocean strategy and concentrated on our customers.

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