Business Is The Largest E Commerce Retailer Of The World Today
Amazon.com Inc. is unquestionably the largest e-commerce retailer in the world today; yet, what made Amazon.com Inc. transcend from a “good” business that sold books online to the “great” business that it is today? To begin we must understand that which determines if a business is “good” or “great”. In his book Good to great: Why some companies make the leap and others don’t author Jim Collins defines greatness in terms of a business as the ability of a company to average cumulative stock returns of 6.9 times the general market in the fifteen years following the company’s transition from below the general market to above (Collins, 2001). Collins goes on to say, “Good-to-great companies think differently about the role of technology. They never use technology as the primary means of igniting transformation; yet, paradoxically, they are pioneers in the application of carefully selected technologies,” (Collins, 2001). Through the extraordinary management of technology such as the internet, e-books, cloud services, streaming services, and robotics, Amazon.com Inc. has achieved the aforementioned definition of a “great” business.
Amazon.com Inc. was founded in July of 1994 as Cadabra Inc. by Jeff Bezos (Stone, 2013). Bezos chose to start his company in Seattle because of the city’s reputation as a technology hub and because the state of Washington had a relatively small population, which meant that Amazon would have to collect state sales tax from only a…