Brian Dumaine is the founder of the New York media enterprise High Water Press, as well as linked with Fortune magazine, where he has worked as a writer and editor for over three decades, including as global editor and assistant managing editor. you can directly download Bezonomics Book PDF
| Book | Bezonomics: How Amazon Is Changing Our Lives |
| Author | Brian Dumaine |
| Publication | Simon & Schuster |
| Language | English |
| page | 336 |
Also Download: The Everything Store Book PDF Download
Summary of Bezonomics and PDF Download
Bezonomics dives into the primary ideas that allow Jeff Bezos to accomplish Amazon’s dominance: customer focus, radical innovation, and long-term management, all supported by artificial intelligence. Above all, Bezonomics answers the essential question: How are Amazon and its imitators transforming our lives, and what can we learn from them?
Amazon will go to tremendous measures to give the best price and quickest delivery to its consumers.
Even if it comes at a price the service will be first-class. And it may frequently entail no free lunchroom for workers, as well as the inability of setting up pricey spending accounts. To keep up with the number of orders during one Christmas season, Bezos ordered his best workers to complete a series of night shifts at the Seattle warehouse. Amazon is also renowned for its battle to see who can take the most products off the shelf the quickest.
Amazon would likewise go to enormous efforts to devour its competitors.
Amazon was competing with the upstart Diapers.com in the late 2000s. When the firm declined to be bought by Amazon, Bezos decided to decrease diaper pricing to zero until the decade could be finished. The corporation was later acquired by Amazon.
In his talks, Bezos requires a six-page tale.
Bezos favours six-pagers over PowerPoint presentations because it challenges his team to get the idea correct and supply all of the important material. Teams may labour constantly for weeks to get this tale off the ground. When a team submits a six-page report to a meeting, Bezos asks that everyone spend the first twenty minutes or so digesting the narrative. No one can pretend to read it. Following the reading, the group participates in a heated adversarial discussion, contesting premises, underlying facts, and the project’s long-term sustainability from the customer’s standpoint.
Every key Amazon concept has made it through the six-page article.
Six-pagers were utilized for all of Amazon’s big efforts, including Prime, Alexa, and AWS. In fact, at Amazon, all difficult or data-driven choices are subject to six-pagers. The plot is adjusted and rewritten as a new project proceeds until it is ready for prime time. In some situations, the six-pager will ultimately become the product’s official press release.
From that point on, the technical adviser program became an essential aspect of Amazon’s culture, and over the years, Bezos has elevated a number of successful executives through it.
Bezos makes it obvious that his S-team may grab control of him at any time.
Amazon is one of the rare companies whose founders are still alive. Not only Amazon’s investors but also its workers, are anxious about what will happen to the firm if Bezos goes. Bezos appears to be sending the message with his S-team that when he retires, Amazon will have a strong reserve of all-pro players ready to take over as CEO. Whether or whether his great successor succeeds him is questionable.
Not everyone made it through Amazon’s ‘Up or Out’ mentality, which was inspired by the Navy SEALs.
In meetings, staff are encouraged to pick apart one another’s ideas. Long emails were received late at night, followed by SMS texts explaining why they had not been responded to. The internal phone directory is set up in such a manner that workers may send private remarks to one other’s superiors. It’s typical to see individuals sobbing at their workstations at Amazon.
It’s an odd society, but one that’s also hardworking and not for the faint of heart. And, without a doubt, not everyone can withstand such pressure and scrutiny. In the end, however, both Jeff and Jobs had a devoted core of top-notch players who they could entrust with increased authority.
Bezos thinks in decades, if not millennia, terms.
While most CEOs concentrate upon the next quarter or two to three years ahead, Bezos’ long-term compels him to think in millennia. He also urges his investors and staff to do the same.
Bezos makes a lot of bets, but none of them has ever been “bet the business” bets.
With Amazon, Bezos took a lot of calculated risks. While some of them were huge successes, such as Prime and Kindle, others, such as Fire Phone and Pets.com, were huge flops.
Even when it failed, such as the Fire Phone’s late launch, Amazon continued to innovate because Bezos was persuaded that no matter what the result, the effort always pays off in the long run. Amazon persevered in learning from its errors, and the Fire Phone was ultimately merged into Amazon’s next-generation smart speaker, the Echo.
It takes a lot of work to move the flywheel when you first start pressing.
You, on the other hand, do not stop. You keep going until you reach the second, third, and finally fourth turn. It begins to stack up on top of itself. That flywheel has its own momentum after eight, twelve, one hundred, and thousand rotations. And you keep adding to the momentum. Amazonians are continually contributing to the momentum with innovative ideas and innovations.
The flywheel is not spun by a single huge force.
There was no one huge push that made the flywheel rotate, no matter how much you or Amazon desired it. It’d be like asking Warren Buffet about a single act or decision that made him a multibillionaire. His flywheel was spun by a succession of good investment choices made over time. It’s likely that Amazon’s actual client-centricity infused the corporation with tremendous impetus.
Amazon believes Prime subscribers to be gold.
They spend more than non-privileged consumers, listen to more, watch more, and read more. Prime members are also affluent and devoted. Amazon has gone to tremendous lengths and spent tens of billions of dollars to guarantee that its gold customers receive what they want when they want it, and at a price, they can’t refuse. Amazon also distributes its media production and marketing expenditures in a methodical way, regardless of whether a given film or program helps to or subtracts from its bottom line.
What began out as a lousy concept has developed into a significant business for the organization. Key industry stalwarts such as Netflix, Spotify, Apple Music, FedEx, and UPS are now experiencing severe competition from Amazon Prime Video, Prime Music, and Amazon Shipping.
This is the genius of the Prime model.
Prime members are hooked to the ease of one-click purchases, free delivery, and speedy shopping after a time, and they stop browsing other e-commerce sites even if they can find a cheaper item elsewhere. Within its ecosystem, Amazon has captured a legion of price-insensitive buyers.
People aren’t buying with Alexa right now, but that may change soon.
Amazon won’t reveal how many Echo users shop using the device, but one thing they don’t do is ask their devices to make purchases for them. According to one poll, barely 6 per cent of Echo users used Alexa to make online purchases.
