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    Jeff Bezos The Amazon Founder

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    Nusrat Ali
    Jeff Bezos founded Amazon in 1994 and grew it into the largest online retailer in the world. He took many risks in building Amazon, such as investing heavily in expanding product offerings and acquiring other companies. While some experiments like the Fire Phone failed, others like the Kindle e-reader were highly successful. Bezos' risk-taking approach and focus on innovation have been keys to Amazon's dominance of e-commerce.

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    Jeff Bezos The Amazon Founder

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    Nusrat Ali
    346 views3 pages
    Jeff Bezos founded Amazon in 1994 and grew it into the largest online retailer in the world. He took many risks in building Amazon, such as investing heavily in expanding product offerings and acquiring other companies. While some experiments like the Fire Phone failed, others like the Kindle e-reader were highly successful. Bezos' risk-taking approach and focus on innovation have been keys to Amazon's dominance of e-commerce.

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    Jeff Bezos founded Amazon in 1994 and grew it into the largest online retailer in the world. He took many risks in building Amazon, such as investing heavily in expanding product offerings and acquiring other companies. While some experiments like the Fire Phone failed, others like the Kindle e-reader were highly successful. Bezos' risk-taking approach and focus on innovation have been keys to Amazon's dominance of e-commerce.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Download as docx, pdf, or txt
    346 views3 pages

    Jeff Bezos The Amazon Founder

    Uploaded by

    Nusrat Ali
    Jeff Bezos founded Amazon in 1994 and grew it into the largest online retailer in the world. He took many risks in building Amazon, such as investing heavily in expanding product offerings and acquiring other companies. While some experiments like the Fire Phone failed, others like the Kindle e-reader were highly successful. Bezos' risk-taking approach and focus on innovation have been keys to Amazon's dominance of e-commerce.

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    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Download as docx, pdf, or txt
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    1

    Nusrat Ali

    Teacher Rubina Shaheen

    Composition and grammar

    09 June 2021

    Jeff Bezos the amazon founder


    Jeff Bezos, real name Jeffrey Preston Bezos, (born January 12, 1964, in Albuquerque,
    New Mexico, USA), is an American entrepreneur who founded and served as CEO of
    Amazon.com, Inc., an online retailer of books and later of a wide range of products (1). Under
    his leadership, Amazon grew to become the largest retailer on the Internet and the model for
    Internet sales. Bezos founded the Dream Institute while still in high school, a center that
    encouraged young students to think creatively. After graduating from Princeton University in
    1986 with degrees in electrical engineering and computer science, he worked in a variety of
    positions before joining the New York investment bank D.E. Shaw & Co. in 1990. Bezos, the
    firm's youngest senior vice president, was put in charge of researching Internet investment
    opportunities. Its enormous potential—Web usage was increasing at a rate of more than 2,000
    percent per year—sparked his entrepreneurial imagination. He left D.E. Shaw in 1994 to open a
    virtual bookstore in Seattle, Washington. Bezos began developing the site's software in his
    garage with a small team of employees. Amazon, named after a South American river, sold its
    first book in July 1995.
    On July 5, 1994, Bezos incorporated the company under the name "Cadabra."
    Furthermore, he considered changing it a year later after his lawyer misheard the word as
    "Cadaver," but that was not the worst mistake (2). Another option was “MakeltSo.com,” a
    catchphrase from Captain Picard in Jeff's favorite Star Trek series. It could also have been
    “aard.com,” which would have helped the company rise to the top of the website listings.
    Awake.com, Browse.com, Bookmall.com, and Relentless.com were also registered by Jeff. After
    perusing the dictionary for words beginning with the letter A, Bezos settled on Amazon. Bezos
    liked the parallel between one of the world's longest rivers and the world's largest bookstore.
    Amazon quickly rose to prominence as the undisputed leader in e-commerce. The site, which
    was open 24 hours a day, was user-friendly, encouraging visitors to post their own book reviews
    and offering discounts, personalized recommendations, and searches for out-of-print books. It
    began selling CDs in June 1998, and later that year, it added videos. Bezos expanded the site's
    functionality by adding auctions and investing in other virtual stores in 1999 (3). Amazon's
    success encouraged other retailers, including major book chains, to open online stores. Jeff
    Bezos stepped down as CEO of Amazon earlier this month, the company he founded in 1994 as
    an online bookseller. Today, Amazon is a $1.8 trillion ecommerce behemoth, and the company
    has made him the world's richest person, with a fortune worth more than $200 billion.
    2

    For as long as he can remember, Bezos has been an innovator. From creating a sound
    alarm to protect his room from annoying siblings to creating the widely recognized e-commerce
    website, Bezos' desire to create something new has only grown over time. His desire to create
    something innovative has only grown stronger over time. Originally intended to provide
    customers with books. His innovative abilities drove the online portal to provide everything and
    anything a person could desire. Jeff's most well-known upheaval is the well-known E-book
    device Kindle, which he designed to compete with the Apple iPad.
    Jeff's personality trait is identical to Mark Zuckerberg's personality trait of taking high
    risks in a calculated manner (5). It is a simple fact that a man with a family and a secure job does
    not abandon everything to become an entrepreneur if he lacks the ability to take risks. Jeff Bezos
    had decided to launch his own company. He didn't have any money, and his only investors were
    his parents. He was aware that there was a 70% chance of failure, but his determination did not
    allow him to back down from the risk. He is now one of the world's wealthiest men, and his
    penchant for taking big risks hasn't faded. The introduction of the Kindle versus the iPod is a
    vivid paradigm highlighting Bezos' daring personality.
    Jeff also does many experiments to give more to the world the best things (6). One
    example of Bezos' experiment is the Fire Phone. This project resulted in a $170 million loss.
    Despite its best efforts, the Fire Phone was unable to compete with Android and iPhone. Amazon
    Local was another major flop. This was an attempt to provide a daily deal that did not go well.
    Amazon wallet, Amazon local registers, Music importer, Test Drive, Amazon Web Pay, and
    Endless.com are also on the list. His other leadership ability is the ability to make employees
    believe they are owners. Bezos had 614 employees when he wrote this in the first Amazon
    annual letter. It now employs 230,000 people. “We know our success will be largely affected by
    our ability to attract and retain a motivated employee base, each of whom must think like, and
    thus must actually be, an owner,” Bezos wrote in the 1997 letter.

    Jeff Bezos is a competitive man, who is one of his most well-known characteristics. He
    doesn't just want competition; he wants to get rid of it. Amazon once targeted a competitor
    dealing with children's products; they dramatically reduced their prices to eliminate the rival
    from the competition entirely, and the rival company eventually collapsed. Jeff came out on top
    as a winner, as he always does.
    3

    Work cited
    1 Byers, Ann. Jeff Bezos: the founder of Amazon. com. The Rosen Publishing Group,
    2007.
    2 Marathe, D. A., and G. Gawade. "Literature review on customer perception about online
    shopping with reference to Amazon in India." Juni Khyat Journal 10.7 (2020): 372-384.
    3 Dodge, Martin. "Finding the source of the Amazon. com: examining the hype of the"
    Earth's biggest bookstore"." (1999).
    4 Parry, Mark E. "Jeff Bezos and Amazon. Com." Amazon. Com. Darden Case No. UVA-
    M-0603 (1999).
    5 Alef, Daniel. Jeff Bezos: Amazon and the ebook revolution. Titans of Fortune Publishing,
    2010.
    6 Dyer, Jeff, and Hal Gregersen. "The secret to unleashing genius." Forbes.[Cited 24
    January 2016]. Available from URL: http://www. forbes.
    com/sites/innovatorsdna/2013/08/14/the-secret-to-unleashing-genius (2013).

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