Jeff Bezos, the founder of Amazon.com, was born in Albuquerque, New Mexico in 1964. His mother, Jackie, was in her teens when he was born and she was only married to his biological father for about a year. She married Mike Bezos when Jeff was four. Mike was a Cuban who escaped to the United States when he was fifteen. He put himself through college in New Mexico and eventually became an engineer at Exxon. Jeff attended Miami Palmetto high school and was valedictorian of his class. He went to Princeton and planned to study physics until arriving at Princeton and realizing that the courses were to difficult. He then decided to change his major to electrical engineering and computer science. He graduated summa cum laude in 1986 with a GPA of 4.3 on a 4.0 scale. After he graduated from Princeton, Jeff joined a high-tech startup in New York that was building a network to facilitate international trade. After two years with this company he left and joined Bankers Trust Company. At Bankers Trust, he climbed the ranks quickly and worked to setup computer systems that managed $250 billion in assets. Bezos eventually became the company's youngest vice president. In 1990, he decided to join D.E. Shaw and Company. After a few years here he helped the company build the most technically advanced hedge funds on Wall Street. He eventually went from being a computer expert to a money manager, and became the company's youngest vice president. After four years working for D.E. Shaw and Company Bezos was looking for another challenge and in 1994, he found one. One day, Jeff read a statistic that said the Internet was growing at a rate of 2300% per year. He realized the potential of the internet business and decided to leave D.E. Shaw and Company to form Amazon.com, which he named after the seemingly endless South American River. Jeff had already spent several months planning Amazon.com while he was at D.E. Shaw. During these months he realized he would need assistance with Amazon.com so he started traveling to California to meet with Shel Kaphan, a programmer who was the first employee at Amazon.com. Jeff, Shel, and a contractor named Paul Barton-Davis built the prototype for Amazon.com. The startup of the company was in Bezos' garage that was heated by an oven in the middle of the room. Bezos built the desks they worked off of from doors that he purchased at Home Depot for sixty dollars each. In fact, all of the desks at the current Amazon.com office are made of doors. Jeff, Shel, and Paul spent a year developing database programs and creating the website. On July 16, 1995, Amazon.com went live to the world and within 30 days, the company had sold books to all fifty states and forty-five foreign counties. Shortly after the launch, they added new features to the site, such as one-click shopping, customer reviews, and e-mail order verification. By September, the site had sales of $20,000 a week although Amazon didn't turn a profit until late 2001. Jeff has a unique management style. He invokes loyalty from his employees and most of them see him as a colleague. He often refers to himself as a computer nerd and jokes about his lack of social skills. He is known as a fun person to work with, but his employees and investors know that he is serious about his company. The main focus of Jeff's corporate strategy is customer service. Instead of focusing on the competition, he focuses on how he can improve his customers' experience. Jeff believes that if a company is watching its competitors, it is unlikely to be creative. Although it isn't a strong strategy of Bezos, he does admit that the company watches its competitors' innovations and will often test these innovations on Amazon.com. Jeff believes in constantly running experiments to improve Amazon.com. When struggling with making a decision, Bezos shows half of Amazon's customers one thing and half another, and quickly get some results on which style or strategy worked best. Although some
online” (Bezos, 2010). The company has millions of customers in over 150 nations. Amazon’s main website offers millions of DVDs, music, books and videos not to mention their products from household, electronics, apparel and clothes, cosmetics, drugs and other goods someone may seek to purchase online. Though the company has highs and lows, they are able to manage the companies and sustain their competitive advantage. A great deal of Amazon’s success can be attributed to one man, Jeff Bezos; the founder…
offered one-million book titles through its website and posted net sales of $511,000. But, after accounting for operating expenses, it incurred a net loss of $303,000. (Devi, 2008) This loss did not deter Amazon CEO, Jeff Bezos, who believed that his fledgling business would succeed. Mr. Bezos continue to work diligently to make Amazon better. By 1996 he had hired about 151 employees and had 2.5 million titles online. Although the business had grown, Amazon.com still suffered a net loss of $5.7 million…
CEO Jeff Bezos Business and Leader Profile
Anissa M. Jones
November 15, 2012
CURRENT CEO PROFILE
Jeff Bezos is the founder and current CEO of Amazon.com. He holds a B.S. in Electrical Engineering and Computer Science from Princeton University, graduating in 1986. After this he worked on Wall Street for D. E. Shaw & Co. It was here that he discovered that Web usage had a projected growth of 2300% and came up with the idea to start an online company, with book sales being the…
Amazon's P/E of 3,000 The Ultimate Buy Signal
01/08/13 - 03:27 PM EST
NEW YORK (TheStreet) -- Amazon.com (AMZNhttp://www.thestreet.com/quote/AMZN.html) CEO Jeff Bezos is so much smarter than all of the idiots who short his . . .
Very few people actually short AMZN. You see, Amazon bearishness is all talk and zero action.
It's understandable that only about 2.5% of the stock's float is short. Not enough "idiots" (in the John Locke sense of the word) exist among us. Unless…
Management Update Report
Jeff Bezos's New Plan for News: The Washington Post Becomes an Amazon Product
October 06, 2014
Jeff Bezos wants to turn the Washington Post into a national publication, and he’s going to use his other company—Amazon.com (AMZN)—to help achieve that goal. Post came up with a new APP, which is a step to initiative focused on the…
(2014, July 26) Retrieved from http://topics.wsj.com/person/b/jeff-bezos/698PART 3: STYLE ANALYSIS OF JEFF BEZOS
Leadership Style of Jeff Bezos (p. 122)
Style Entrepreneur leadership
Evidence Jeff Bezos is one of the most successful entrepreneurs in the world. That is why he is one of the few billionaires in the world. Amazon was his concept, he was a pioneer for ecommerce, and…
of this without the hassle of being interrupted. Orders are received in a very timely manner.
Amazon.com CEO Jeff Bezos developed unique approaches to increase customer happiness. On many occasions, Bezos has discussed the differences Amazon makes concerning overall customer experience and customer service. Correcting consumer issues creates more loyalty among customers according to Bezos. Ina addition, this also allows Amazon to identify persistent problems that require attention more thoroughly…
toys etc. or digital products such as e-books, songs, software etc.
Amazon.com is one of the biggest example of E Business. It was virtually launched in July 1995 by Jeffrey Preston Bezos, the founder, president, chairman and CEO of the board of the Amazon.com which originally started as an online bookstore. Before Jeff started all this, he took a course on how to start a bookstore which was sponsored by the American Booksellers Association. After the launch of Amazon.com in United States, the site…
video games, electronics, apparel, furniture, food, toys, and jewelry. The company also produces consumer electronics—notably the Amazon Kindle e-book reader and the Kindle Fire tablet computer—and is a major provider of cloud computing services.
Jeff Bezos incorporated the company (as Cadabra) in July 1994 and the site went online as Amazon.com in 1995. The company was renamed after the Amazon River, one of the largest rivers in the world, which in turn was named after the Amazons, the legendary…
describes the actions that allowed Jeff Bezos, the CEO of Amazon.com, to become one of the most admired leaders in the world. Early in his life as a leader of Amazon, Bezos said that his main priorities were his company’s customers and its long-term success. Defying the Wall Street analysts who were looking for shorter-term results, Bezos grew his company slowly while creating an infrastructure that never wavered from his original goals. Today, Deutschman explains, Bezos is a leader among leaders whose…