Recently, the Annual Shareholders meeting of Amazon was held and Amazon’s CEO Jeff Bezos was asked about how he envisions what will change down ten years for the company?
He had a great response to this question. He said that the point to focus is that what will ‘not’ change even a decade later. That is what Amazon’s future vision circles around.
To further elaborate his point, he said that we have to consider the things that will still remain the same at the customers’ end even after so many years. People will always want a great and efficient delivery system; they will always want a wide array of products for selection within their easy grasp, and they will always want products that are lower in price in comparison to what other facilities or retailers provide.
No one will ever want a delayed delivery, or products at a higher price, and that makes absolute sense.
So when these things are going to remain constant, then this is what should be the center of focus for building business models around in the future as well. Good thing is that Amazon prides itself on providing these services amazingly well, and the wide popularity of the platform is what has made Jeff Bezos the richest person in this entire world. So, there is no need for Amazon to change its business policies.
Amazon’s current policies are entirely customer-driven, which makes them customer-obsessed. Their eagerness and willingness to satisfy their customer needs are what make them so successful. So, why would they change their policies in the future also, when customers will remain the same way and they will want to be catered the same way as Amazon does now?
Jeff Bezos has remained quite consistent about these views, which means that he is very clear about his vision, for now as well as for the future. He was asked this question last year at the Mars Robotics conference also, and he had the same answer then as well.
While Bezos believes that things will evolve in the future; the technology will advance, machine learning will become the new norm, and there will be many things that will change. We have already seen during the coronavirus pandemic that how our world has already changed so much within a few months. So, it is a definite thing that there will be a lot of changes in the future also, and we don’t know how the world will be 10 years later. But Bezos continues to believe that on the customer-front, they have got it all covered as that will remain unchanged then also.
In Wednesday’s online meeting, he also expressed his immense pride in the way his employees kept working in the crucial circumstances that the world got into because of the coronavirus pandemic. There were some firings recently, but Bezos said that they were not because of their activism, but due to the violations in the company’s internal policies.
A few of his views also suggest that he is open to bringing necessary changes when required, but the overall strategy and business model will not change. It will always remain customer-obsessed and will always work around the customers’ psyche, their needs, and how they want things in the future also.
Bezos calls himself and his workforce as quite inventive and innovative. They seem to continue with their inventive and creative streaks in the future also, and this is quite assuring.
In times when things are changing so drastically around the globe, it is good to know that at least Amazon’s basic principles will not change. Not now, not in the future.
Photo: David Ryder / Getty Images
Read next: Bloomberg Billionaires Index ranks Facebook CEO as the third richest person in the world amid coronavirus pandemic
He had a great response to this question. He said that the point to focus is that what will ‘not’ change even a decade later. That is what Amazon’s future vision circles around.
To further elaborate his point, he said that we have to consider the things that will still remain the same at the customers’ end even after so many years. People will always want a great and efficient delivery system; they will always want a wide array of products for selection within their easy grasp, and they will always want products that are lower in price in comparison to what other facilities or retailers provide.
No one will ever want a delayed delivery, or products at a higher price, and that makes absolute sense.
So when these things are going to remain constant, then this is what should be the center of focus for building business models around in the future as well. Good thing is that Amazon prides itself on providing these services amazingly well, and the wide popularity of the platform is what has made Jeff Bezos the richest person in this entire world. So, there is no need for Amazon to change its business policies.
Amazon’s current policies are entirely customer-driven, which makes them customer-obsessed. Their eagerness and willingness to satisfy their customer needs are what make them so successful. So, why would they change their policies in the future also, when customers will remain the same way and they will want to be catered the same way as Amazon does now?
Jeff Bezos has remained quite consistent about these views, which means that he is very clear about his vision, for now as well as for the future. He was asked this question last year at the Mars Robotics conference also, and he had the same answer then as well.
While Bezos believes that things will evolve in the future; the technology will advance, machine learning will become the new norm, and there will be many things that will change. We have already seen during the coronavirus pandemic that how our world has already changed so much within a few months. So, it is a definite thing that there will be a lot of changes in the future also, and we don’t know how the world will be 10 years later. But Bezos continues to believe that on the customer-front, they have got it all covered as that will remain unchanged then also.
In Wednesday’s online meeting, he also expressed his immense pride in the way his employees kept working in the crucial circumstances that the world got into because of the coronavirus pandemic. There were some firings recently, but Bezos said that they were not because of their activism, but due to the violations in the company’s internal policies.
A few of his views also suggest that he is open to bringing necessary changes when required, but the overall strategy and business model will not change. It will always remain customer-obsessed and will always work around the customers’ psyche, their needs, and how they want things in the future also.
Bezos calls himself and his workforce as quite inventive and innovative. They seem to continue with their inventive and creative streaks in the future also, and this is quite assuring.
In times when things are changing so drastically around the globe, it is good to know that at least Amazon’s basic principles will not change. Not now, not in the future.
Photo: David Ryder / Getty Images
Read next: Bloomberg Billionaires Index ranks Facebook CEO as the third richest person in the world amid coronavirus pandemic
