Amazon and Ethics in the Marketplace Essay

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AmazonIntroductionAmazon is a publicly traded company, with Jeff Bezos being the largest shareholder. The company\'s performance and strategic decisions are closely monitored by investors. Its mission is to be the Earth\'s most customer-centric company, focusing on offering a vast selection of products, competitive prices, and exceptional customer experience. The company operates globally, adapting to local markets and regulatory environments. However, it also faces competition from both regional and global players and must navigate geopolitical and economic risks to succeed. Because Amazon has expanded into so many different lines of products and services, its competition is robust. There are also many areas in which Amazon needs to focus harder on outcomes and strategies to address problem areas that remain in spite of the company’s obvious successes. This paper will discuss Amazon’s entrepreneurial endeavors, its finance/marketing aspects, its CSR and ethics, and its management and HR situation while offering suggestions on where Amazon can improve along the way.Entrepreneurship at AmazonAmazon was founded by Jeff Bezos in 1994 as an online book retailer. Since then it has grown to be the de facto place for all online shopping. It has shuttered its brick and mortar competitors and become one of the most dominant tech companies of the modern era. It has consistently showcased its entrepreneurial spirit throughout its rise. It started as an online bookstore and expanded into various sectors, such as e-commerce, cloud computing, digital streaming, and artificial intelligence. It continuously innovates and diversifies its product and service offerings, creating new markets and disrupting existing ones.Amazon\'s ability to innovate and diversify its product and service offerings has been a hallmark of its entrepreneurial spirit. Its expansion into various sectors showcases the company\'s agility and adaptability. Some examples of its entrepreneurial endeavors include the following areas.E-commerce ExpansionAmazon quickly moved beyond books, offering a vast selection of products ranging from electronics and apparel to home goods and groceries. It has become a one-stop-shop for millions of customers worldwide, leveraging its vast logistics network and technological capabilities.Amazon PrimeAmazon introduced Prime in 2005, a subscription service providing members with benefits such as free shipping, access to streaming content, and exclusive deals. This innovation transformed the e-commerce landscape by making it even more customer friendly (with perks such as same-day delivery) and helped Amazon build customer loyalty and recurring revenue streams.Amazon Web Services (AWS)Amazon went into cloud computing with AWS in 2006, offering a wide range of services such as computing power, storage, and databases. AWS has become a dominant player in the cloud computing market, serving businesses of all sizes, from startups to large enterprises.Amazon MarketplaceAmazon created a platform for third-party sellers to reach customers and leverage Amazon\'s logistics infrastructure. This move expanded Amazon\'s product offerings and enabled small businesses to access a global market. At the same time it is not without its controversy due to a possible conflict of interest (Rowe & Markus, 2022).Digital Streaming and Content ProductionAmazon expanded into the digital streaming industry with Prime Video, offering movies, TV shows, and original content. It also established Amazon Studios to produce its own content, competing with traditional media companies and other streaming services.Amazon Devices and Artificial IntelligenceAmazon ventured into consumer electronics with products like Kindle e-readers, Fire tablets, and Echo smart speakers. These devices are powered by Amazon\'s AI voice assistant, Alexa, which uses machine learning to improve user experiences and integrate with various smart home products.Amazon Go and Physical RetailAmazon has experimented with brick-and-mortar retail through Amazon Go, a chain of cashierless convenience stores that use advanced technology for a seamless shopping experience.

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It also acquired Whole Foods Market, expanding its presence in the grocery sector.Healthcare and PharmaceuticalsAmazon entered the healthcare industry with the acquisition of PillPack, an online pharmacy, and launched Amazon Pharmacy, offering prescription medication delivery. It also introduced Amazon Care, a telehealth service for its employees, signaling its interest in the healthcare sector.These examples demonstrate Amazon\'s relentless pursuit of innovation and growth, constantly pushing the boundaries of what is possible and disrupting existing markets. The company\'s entrepreneurial spirit has been instrumental in shaping the digital economy and setting…

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…emphasizing customer obsession, long-term thinking, and innovation. However, the company has faced criticism for its high-pressure work environment.However, Amazon Marketplace also enables small businesses to sell on its platform, providing them with a large customer base and global reach. Still, Amazon also competes with these businesses, raising concerns about market fairness. This is one ethical concern that the company should focus on addressing, too. Because Amazon is a publicly traded company, its performance and strategic decisions are closely monitored by investors. Amazon Marketplace looks good on paper but there are concerns about market fairness and the potential monopolistic behavior of large global companies like Amazon (Rowe & Markus, 2022).Amazon\'s management functions include planning, organizing, leading, and controlling, with a focus on efficiency, data-driven decision-making, and long-term strategic growth. The company has established a clear organizational structure, with well-defined lines of responsibility and reporting. This structure allows Amazon to effectively manage its diverse business portfolio and adapt to the rapidly changing business environment.Amazon invests heavily in hiring, developing, and retaining employees, with initiatives like training and development programs, competitive compensation, and benefits. However, the company has faced criticism for its labor practices, including poor working conditions and high-pressure work environment. Addressing these concerns and motivating employees through recognition, career growth opportunities, and work-life balance will be essential for increasing employee satisfaction and reducing turnover.Money is a vital resource for Amazon, enabling it to invest in growth, innovation, and global expansion. Financial institutions, such as banks and investment firms, provide Amazon with the necessary capital, credit, and financial services. These institutions also facilitate international transactions, which are crucial for Amazon\'s global operations. Understanding the functions of money and leveraging the services of financial institutions is essential for Amazon\'s financial management and success in the global market.ConclusionIn conclusion, Amazon demonstrates a strong understanding of the various aspects of business, such as entrepreneurship, finance, marketing, and management. Still, it faces challenges in areas like corporate social responsibility, labor practices, and market dominance. Balancing future entrepreneurial growth with better ethical and social responsibility decision-making and practices….....

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"Amazon And Ethics In The Marketplace" (2023, April 30) Retrieved May 2, 2024, from
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"Amazon And Ethics In The Marketplace", 30 April 2023, Accessed.2 May. 2024,
https://www.aceyourpaper.com/essays/amazon-ethics-marketplace-2178545
   

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