In this assignment, you are to use the same corporation you selected and focused on for the Strategic Management and Strategic Competitiveness assignment.Using the corporation you chose fro

Globalization is the process of connection and integration between nations, which is driven by international trade and facilitated by technology (Arsova et al., 2019). Amazon.com started operations in 1995, and ever since then, the Seattle-based company has grown into a global industry. Amazon's expansion into new markets has been facilitated by globalization, which has had a significant impact on the company's success and profitability. The global corporation is growing its operations by expanding its use of internet platforms to facilitate the shipping of goods to countries all over the world (Arsova et al., 2019). For instance, in many nations, such as China, the widespread availability of video streaming services provide an opportunity to penetrate the enormous market that is created by the country's large population.

Unfortunately, while globalization has had a favorable impact on Amazon's business, the company's development into overseas markets has also been accompanied by a number of challenges. The failure of the company to adapt its successful business strategy from the United States to the Chinese market led to financial losses. The corporation did not take into account the sensitivity of prices and did not design a payment mechanism that was suitable for local consumers.

Technology

Given that Amazon uses several internet technologies in the operation of its online shipping business, it can be considered a technologically advanced organization. Amazon uses technology to classify, sort, and package products. A dominant monitoring system is utilized to weigh and measure the items to guarantee that the correct item is inside, and a vision – based system is employed to classify the merchandise when it arrives. As the sophistication of robots and drones increases, Amazon is gradually turning to using them as automation technologies (Türegün, 2019). Picking up shelves, arranging, and delivering things to plant personnel are all tasks performed by robots. Amazon embraces technology in order to continue revolutionizing people's lives.

Since Amazon's online shipping operations are dependent on internet technology, it might be characterized as a business that is primarily concerned with making effective use of newly developed technologies. The corporation has benefited from its use of social media for marketing objectives, which has had an impact. The company keeps a presence on Instagram, Twitter, and Facebook in the hopes of attracting new clients. Amazon.com, Inc. utilizes software designed for online gambling in order to entice customers.

Industrial Organization Model

Amazon Inc. may use the Industrial Organization Model to determine the factors that may hinder or promote its business success. The concept is significant because it helps reduce competition, establish entrance barriers, and determine the next step in an industry (Wu & Gereffi, 2018). Amazon Inc. adopts this strategy to ensure low competition as a result of its unique business processes. Due to the fact that fewer significant firms deal with online shops, the company has less rivalry. The corporation is also technologically and creatively superior to its competitors, allowing it to recover its losses before competitors develop a similar product. For instance, Amazon's primary competitor is eBay, but Amazon's product and service diversification places it far ahead of its rivals.

Additionally, the firm uses this concept to construct barriers to entry for competitors, such as technical and fiscal constraints. Amazon, for instance, has partnered with countries such as the United Kingdom to provide its excellent services (Wu & Gereffi, 2018). This discourages other major firms from investing in comparable products. Amazon utilizes the industrial organization model and game theory to forecast rivalry. Since the corporation has few competitors, it may investigate the strategies of Netflix, electronic shops, and Apple to establish the void that must be filled.

Resource-Based Model

The resource-based model of above-average returns is a potent performance-enhancing tool that Amazon may employ since it highlights the worth of an organization's internal resources and talents (Wu & Gereffi, 2018). Amazon is able to identify all of its internal resources and determine if they are sufficient or require improvement. For instance, online shops offer a convenient way to conduct business. However, since competitors are also interested in these industries, Amazon may build in physical stores and reap the benefits.

Amazon should also identify the resources that will enable it to surpass its rivals. For instance, a company's corporate culture should motivate employees to work for personal and organizational advancement (Wu & Gereffi, 2018). Adding personnel to the shipping department could help to expedite delivery and ensure on-time delivery. Prior to entering new markets, the company should discover and compete in prospective markets. For instance, if the entertainment industry expands fast, the company must provide music and video apps for its customers. The method requires the organization to utilize all existing funds in unique ways in order to produce above-average outcomes.

Vision

Amazon's vision statement is "to be the most customer-centric business on the planet, where consumers can search and discover everything they would want to purchase online." (“US About Amazon,” 2020) Amazon's current standing in the business world is in large part due to the corporation's vision statement, which plays a vital role in the company's success. Because of this statement, the corporation was able to strengthen its reputation and advance to the position of world-leading organization. The success of the organization in achieving customer satisfaction has resulted in the development of a dedicated customer base. In a similar vein, the corporation has grown into a worldwide powerhouse, which enables it to exert a large amount of influence over markets all over the world. Since the business values its clients and works hard to offer the best products at competitive prices, the statement serves as an excellent motivator for its activities. Its global commerce necessitates significant differentiation by supplying a wide range of products, satisfied customers, and an international presence.

Mission

Amazon's mission statement is essential for establishing the firm's mandate in the global marketplace. "We endeavour to provide our consumers with the best possible rates, the finest available choices, and the most amount of convenience." (“US About Amazon,” 2020) The mission statement enables the company to meet the needs of its consumers by offering high-quality products at competitive prices. In addition, it offers the maximum convenience by delivering items directly to the client's premises. In order to fulfil the requirements of expanding markets, the company has expanded its product and service offerings. Amazon is able to succeed despite intense competition in certain areas due to its engaging mission statement. The firm's vision and mission statements are largely responsible for its rise to prominence as one of the most successful online retailers in the world.

Stakeholders

The continued growth of Amazon is contingent on the efforts of all involved parties. Amazon's growth will continue to be supported financially by the stockholders who own the company. Stakeholders are defined as individuals who have the ability to influence the mission and vision of an organization (Hitt et al., 2019). Communities, clients, and employees all constitute different types of stakeholders. They have the potential to influence the policies, objectives, and actions of an organization. It is critical to have a solid understanding of the various stakeholders in a company as well as the effects that those stakeholders might have on the business.

Customers are the most important stakeholder group according to Amazon's corporate social responsibility strategy. Consumers are the most important aspect in the company's e-commerce performance because they have a big effect on revenue. Amazon Inc.'s employees are also crucial determinants of structural performance and corporate social responsibility plans and events. This stakeholder group places a premium on a competitive compensation and career growth. Employees are dynamic since they contribute to Amazon's corporate culture, which provides a competitive advantage. Additionally, Amazon offers a community-based corporate social responsibility effort. Conversely, the most important stakeholders are the firm's investors/shareholders. They have a big impact on how the company runs. This group, which also includes the creator of the business, provides funding for the company.

Conclusion

Amazon.com, Inc. is a worldwide firm that operates as a retailer on the internet and provides a variety of other services, including the sale of digital music. Globalization is the process of connection and integration between nations, which is driven by international trade and facilitated by technology. Amazon's expansion into new markets has been facilitated by globalization, which has had a significant impact on the company's success and profitability. Given that Amazon uses several internet technologies in the operation of its online shipping business, it can be considered a technologically advanced organization. Amazon uses technology to classify, sort, and package products. Inc. may use the Industrial Organization Model to determine the factors that may hinder or promote its business success. The resource-based model of above-average returns is a potent performance-enhancing tool that Amazon may employ since it highlights the worth of an organization's internal resources and talents. The firm's vision and mission statements are largely responsible for its rise to prominence as one of the most successful online retailers in the world. Communities, clients, and employees all constitute different types of stakeholders. They have the potential to influence the policies, objectives, and actions of an organization.

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