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Amazon's leadership values are the bedrock of its success.
Amazon's Invent and Simplify concept was exhibited by Bezos' imaginative thinking. Amazon executives are constantly looking for fresh and imaginative ways to accomplish their goals.
Bezos displayed another principle by quitting his job: a Bias for Action. Amazon executives believe that speed is critical to their company's success. Even if you act fast and make a mistake, you can generally recover. It's better to take a calculated risk like Bezos did when he quit the hedge fund, rather than spending a lot of time evaluating your choices.
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MORE IDEAS ON THIS
Amazon's executives realize that tiny dreams only lead to small accomplishments. The Amazon team sees a bright, daring future, and it is this vision that has led to such remarkable success.
The company's earliest offices were in a small basement in Seattle when Bezos launched his online boo...
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979 reads
Amazon avoids confirmation bias by requiring all interviewers to write full reports on candidates immediately following their interviews and before speaking with coworkers. The interviewers consult these reports when they meet to discuss the candidate. This system ensures that each person's opini...
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687 reads
Rather than prioritizing the consumer experience, product teams look for inspiration closer to home. They may begin by appraising the skills of their research and development teams, or by being limited to the company's cost and profit margin choices.
After they've created a new product that...
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512 reads
If a product team has a new product idea, they should start by drafting a one-page document. This paper is formatted like a press release. It imagines that the product has already been created and extols the benefits that the product will bring to Amazon's customers.
The product team also ...
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515 reads
Consider yourself a senior executive tasked with purchasing a multimillion-dollar plant to produce your company's goods. Because the decision you make will have a long-term impact on the company's bottom line, you would go through a thorough procedure to ensure that you select the proper manufact...
94
778 reads
In 2004, Amazon's senior managers took turns stepping up and giving a weekly presentation on a significant topic. However, these presentations were frequently ineffective. The CEO then took a decision.
Now, no PowerPoint presentations are ever used. Also, every meeting begins with silence f...
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675 reads
Amazon has a unique weapon in their recruitment process that avoids urgency bias: the bar raiser. A bar raiser is a highly experienced interviewer who is not a member of the hiring team and has no vested interest in ensuring that someone is hired swiftly. The bar raiser is in charge of conducting...
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671 reads
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Many consumers still didn't find online purchasing convenient in the mid-2000s. Most things still took several days to arrive, which meant that consumers who wanted something quickly, such as a last-minute gift, preferred to shop at a physical store. Shipping charges, which were quite high in the...
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498 reads
In 2005, Bezos created Amazon Prime, a subscription-based membership club which offered free two-day shipping and a reduced alternative for next-day delivery.
Amazon registers $25.21 billion in annual revenue from retail subscription fees from its over 200 million members, making it a mass...
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628 reads
Jeff Bezos worked for a New York hedge fund in 1994. That year, Bezos learnt that the internet's user base was expected to rise by over two thousand per cent per year in the future years. Soon after, he made a bold decision that would come to define Amazon's philosophy: he quit his hedge fund pos...
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1.81K reads
Despite Amazon's assurances that their books would be delivered via first-class mail, each book was delivered by priority mail. The corporation paid a higher price for this, but buyers were happy when their books arrived considerably sooner than expected. Every decision A...
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980 reads
Urgency bias occurs when a team feels compelled to fill a vacant position, maybe because they are responsible for the work of the absent worker. Because they're so eager to find someone, they overemphasize a candidate's qualities and ignore his weaknesses. In many circumstances, this means they h...
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841 reads
When multiple interviewers conduct interviews with the same candidate, this can happen. After the first interviewer has finished, she may speak with the other interviewers informally about whether they liked or disliked the candidate. This may appear innocuous, but it establishes expectations in ...
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641 reads
Amazonians ditched PowerPoint in favour of a six-page document in 2004. Meeting attendees now read this message for twenty minutes during each meeting. The six-pager follows a narrative format to explain the subject. This enables the topic to be discussed in greater depth and complexity, rather t...
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620 reads
The six-page document also attempts to equalize the playing field among employees. Meeting attendees would invariably rate new suggestions based in part on the presenter's speaking and graphic-design skills when PowerPoint was used to explain them. Regardless of how strong their ideas were, skill...
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574 reads
What does it mean to work backwards? It means prioritizing the client at Amazon. When Amazonians come up with new product ideas, they don't start with Amazon's needs and capabilities in mind. Instead, they exclusively evaluate what will improve the lives of their clients.
T...
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574 reads
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