Assessment Title Build Strategy and Transformation of Amazon
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Build Strategy and Transformation of Amazon
Digital disruptions frequently occur in an increasingly unexpected, uncertain, complex, and perplexing corporate environment. To stay ahead of the competition, businesses must adapt to these disruptive movements and generate disruptions to help transform and extend their organizations. Students will learn to lead digital transformations and cope with the leadership difficulties of working in a disruptive environment. This course teaches students how to create a digital transformation strategy that meets customer needs, gives customers something of value, and makes money for the company.
Task 1 (LO1): The Case for Change of Amazon Organisation (10 marks) 5
Task 2 (LO2): Gaining Digital Business Agility (40 marks) 6
a. Capture Insights 6
b. Make fast Decisions 7
i. Recognize there are two types of Decisions 8
ii. Do not make all Decisions by yourself. 8
iii. Do not wait for all the Information 8
iv. Do not wait for everyone to agree 9
1. Rational, Analytical Approach 9
2. Political Behavior Approach 9
c. Acquire and Engage talent 10
i. The Candidate’s Experience should be Improved 10
ii. Get personal Early and Often 10
iii. For video interviews, use the right technology. 11
iv. Incorporate Fair and Accurate Job Evaluations 11
v. Determine Which Recruiting Metrics Are Most Important. 11
Task 3 (LO3): Create a Digital Ready Culture 11
Task 4 (LO4): Steer Collaboration (10 marks) 12
a. Managing Projects by the use of Quire 12
b. Communication: Slack 12
c. Collaborative funding: Budget 12
d. Creating content or Creativity 13
e. Crowdsourced decision-making: Loomio 13
f. Writing together: Google Docs 13
g. â€œCollective Knowledge: ProProfsâ€ 13
Task 5 (LO1): Develop your Leaders (15 marks) 13
New digital technologies, such as digital channels or assets, can disrupt a market, an industry, or a procedure by altering the fundamental expectations and behaviors of those involved. In the increasingly unpredictable, uncertain, complex, and puzzling business world of the twenty-first century, digital disruptions occur often. If businesses wish to stay ahead of the competition, they must adapt to these shifts and generate disruptions.
In a fast-transforming and competitive market, leaders are routinely required to assume prominent positions and drive digital disruption. However, if the term “digital” is not consistently defined and you are uncertain of what you should do to expand, you may have issues. â€œTo maintain competitiveness, executives must comprehend how disruption affects them and cultivate new talents to drive their digital transformation. Leaders must have a clear strategy when creating a company’s digital strategy.â€ A solid business plan addresses your strategic objectives in a technical and coordinated manner. It also analyzes the market, finds your competitive advantages, and helps you create a clear business plan.
Task 1 (LO1): The Case for Change of Amazon Organisation (10 marks)
As well-known as Amazon Organisation is, it is always experiencing technological and digital revolutions day in and day out. Simply having a highly automated procedure is not enough for this organization. So, they are always working on improving and speeding things up due to this fact. AI and drones are being used to explore cutting-edge technologies, yet much of their equipment is freely available.Uncrewed aerial vehicles (UAVs), commonly known as drones, are utilized for various purposes. Rapidly, drones automate a portion or all of their jobs using artificial intelligence (AI). Manufacturers can now use the Information from the drone’s sensors to gather and analyze Information about the sky and the ground (Voloshyn, 2020).Several factors contribute to this company’s competitive advantage. It is all about going above and beyond for your customers. â€œAside from this vast quantity of data, Amazon gets a lot from its digital endeavors due to its ability to better understand customers and suppliers, create new products, and improve its overall service delivery. These data assets help management make better decisions and make the most money while spending as little time and money as possible.â€
Securing this digital transformation is not an easy challenge, even for Amazon. Process improvement and intensive training for all employees are priorities at this organization. However, even if some of their efforts fail, they are willing to take risks and apply their learning to other parts of the firm. Instead of the customary layoffs and reappointments, management has started an extensive training program to retrain these workers for future employment within the Amazon Organisation. â€œWhen this plan is implemented, employee morale and loyalty will soar. This will also reduce the risk associated with new hires within the Amazon organization.â€
Amazon thinks digital transformation will allow the corporation to provide valuable products to a large audience. Its principal objective is to improve consumer connectivity and become the world’s premier music and electronic seller.
Task 2 (LO2): Gaining Digital Business Agility (40 marks)
a. Capture Insights
Many studies go into the company’s decisions. To make an educated conclusion on digital transformation, firms must perform significant market research (Priyono, Moin & Putri., 2020). A corporation may employ cost leadership, differentiation, or specialty. “Amazon.com’s objective is to provide a wide selection of goods and fulfillment services at reasonable rates to achieve scope and scale economies and customer satisfaction.”
A-to-Z grin indicates a client’s entire satisfaction from start to end and continues with a wide choice of items and reasonable pricing to develop and provide value. This all starts with Amazon.com. Low pricing and exceptional customer service distinguish Amazon from its competitors by creating customer loyalty. Amazon’s business strategy is driven by technology (Lida, 2018). “In-house computing cloud” was established for internal usage before becoming a public service. This Amazon Web Services tech stack helps B2B and B2C businesses save on IT infrastructure expenditures and generate more money.
Amazon has demonstrated that it can use technology to please customers and save money, but it has not shown us how. This underscores the necessity for fast and reliable pricing, selection, and convenience in retail. According to Amazon’s experience curve and knowledge systems, the corporation understands its consumers better than the customers themselves (Janisch & Vossen, 2022).
Customer pleasure drives Amazon’s business strategy, which uses technology to achieve scope and scale economies. For Amazon to be successful in retail, it must emphasize competitive prices, a wide choice of items, and rapid and dependable delivery. Amazon’s success may be due to its price and selection competitiveness. Using its knowledge systems and experience curve, Amazon may know more about its clients than they do.
b. Make fast Decisions
Organizations have difficulty managing and accepting change (Burnett & Lisk, 2019). The company may face challenges despite Amazon’s efforts to prepare for the digital shift. Every time a company makes a major shift, it can expect to lose income and modify consumer perceptions of its products and services. When running his firm, Jeff Bezos opted for the tried-and-true strategy of treating every consumer as an individual rather than a number. Amazon is a firm believer in quick, high-quality decisions. Amazon adheres to the following five guidelines to accomplish “high-speed decision making”:
i. Recognize there are two types of Decisions
The first thing to remember while deciding is that it is a one-way street. Once you step through the door, returning to where you were before is impossible. To achieve a high-quality choice, such judgments should be made through a “heavyweight” procedure that requires careful consideration and collaboration. Such decisions should not be made carelessly. Another kind of choice is one that is “changeable, reversible; it is a two-way door.” The ramifications of this choice will not be felt for a long time. The door may be reopened, and you can return to it. People or small groups with a high degree of discernment must make this choice swiftly. Decisions in these two ways circumvent bureaucracy and analytical paralysis, strengthening people’s decision-making skills over time (Shapiro, 2018).
ii. Do not make all Decisions by yourself.
â€œThere are only 24 hours in a day, so no matter how hard you and your team work, the day will eventually end.â€ When you and your company’s top executives continue to make the most of the company’s choices, you and your company’s rapid development will be slowed (Rapaccini et al., 2020)
iii. Do not wait for all the Information
According to Jeff Bezos, 70% of the knowledge you wish you had should be enough to make most judgments. Most of the time, we will be considered slow if we take more than 90% of the time. We must be able to identify and remedy mistakes promptly. If we are good at changing course, being wrong might not cost as much as you think, but being slow will cost us.
iv. Do not wait for everyone to agree
Amazon’s policy is “disagree and commit,” even if all executives disagree with someone’s views or decisions.
There are various approaches to making decisions that can be applied by amazon. They are as discussed below;
1. Rational, Analytical Approach
As a result, Amazon is also using this method to swiftly and effectively implement new features. At Amazon, the company’s decision-makers explain and show the consequences of their actions to all stakeholders (Lavikka et al., 2018). Company executives weigh in on whether or not the changes will be successful and provide recommendations. A more digital business model is something that Amazon plans to implement. Managers have stated that digital transformation may help them evaluate trends and improve connections with consumers and other stakeholders, but this requires enormous expenditure. It has been stated why the change is necessary and has received widespread approval. As a result, Amazon may be able to implement organizational change successfully.
2. Political Behavior Approach
Many firms employ this strategy. When Amazon adjusts its procedures, it can detect the real challenges it may face. Changes made by Amazon might have significant effects on its stakeholders because they rely on one another as trading partners (Kopalle, Kumar & Subramaniam, 2020). Before implementing any changes, Amazon should provide all stakeholders with Information about the changes so that they are aware of them and have an opportunity to express their thoughts. After the government made certain revisions, Amazon alerted all of its employees of the new wage rates. Because of this, they have been instructed to alter their compensation packages to show that they are pleased with the company they work for. Investors, managers, suppliers, and other critical stakeholders are informed by Amazon when political conditions change, and the company’s option is conveyed. Changes can only be made smoothly if employees are ready to accept the company’s decision and have a positive attitude.
c. Acquire and Engage talent
The digital transformation of a business may be difficult, especially when global developments speed up both the need and the timeline(Iivari, Sharma & VentÃ¤-Olkkonen, 2020). Even a few weeks ago, it was far simpler to identify a suitable match between a company and a candidate. Modern Hire’s goal for a long time has been to help companies find the best candidates â€œin the digital age.â€
i. The Candidate’s Experience should be Improved.
The term “candidate experience” is gaining popularity in the job market for a good reason (Kopalle, Kumar & Subramaniam, 2020). Contrary to common belief, the recruiting process should be viewed as an occasion, not a chore. When great individuals appear on the market, several firms will be eager to identify and hire them.
ii. Get personal Early and Often.
In many talent acquisition departments today, getting to know a candidate on a human level is more difficult than ever (Shapiro, 2018).Shapiro (2018) also adds, “By using text interviews, a recruiter can get to know applicants on a more personal level right from the start. At the same time, it is a quick way to move forward the most promising candidates.â€
iii. For video interviews, use the right technology.
â€œIt is not difficult to understand why video interviews have grown so popular.â€ You can get to know your prospects personally much earlier in the process. This lets you show off your brand and business culture.
iv. Incorporate Fair and Accurate Job Evaluations
The evaluation may be valuable for gathering consistent data throughout the hiring process. Psychometric exams, so long as they are administered appropriately, may assist firms in evaluating which job candidates are most fit for unfilled jobs and give them a better picture of how those workers will perform in the coming days.
v. Determine Which Recruiting Metrics Are Most Important.
Individuals should be able to evaluate the efficacy and the importance of any technical solution on which they have spent resources. What should you evaluate specifically in terms of talent acquisition technology? Depending on the company’s objectives, this may or may not be required (Shapiro, 2018).
Task 3 (LO3): Create a Digital-Ready Culture
â€œAmazon’s digital transformation requires a digital-ready culture. Amazon department or business leaders have several alternatives for creating a digitally-ready culture. Amazon may offer incentives for a digitally-ready workplace” (Satyanand, 2021). People worry about the difficulty of adopting new technologies. Supervisors may motivate staff in a new workplace by offering incentives, prizes, and praise. Thus, leadership may achieve its aims (Lavikka et al., 2018).
Participative leadership helps Amazon’s official and informal executives establish a digital-era culture. The same organization might have official and informal leadership. Official leaders have more power and benefits than informal leaders. Consider a small company with a CEO and an informal leader. The group’s formal head disciplines and punishes dissidents. (2018) She can reward the group’s achievements. The informal leader cannot punish or reward group members. Open communication, a common goal, leadership, and appeal will help him succeed. Effective informal leaders lead by example. Amazon’s success is due in part to official and informal leadership. Employees must contribute and speak up. Effective organizations need informal leaders (Tafvelin et al., 2019). Including employees in decision-making can enhance employee engagement. Digital change at work requires valued employees.
Task 4 (LO4): Steer Collaboration (10 marks)
In order to facilitate teamwork, the following tools are employed: –
a. Managing Projects by the use of Quire
â€œGood project management may provide a firm platform for innovation, creativity, a better brand message, and employee trust” (Bhatia & Steinmuller, 2018). Quire is an indispensable piece of software for collaborative project management that is both simple and powerful (Shapiro, 2018).
b. Communication: Slack
The team must interact to complete the task, even if a startup focuses on a particular project. Small companies with less than three employees may be allowed to interact ad hoc. Regardless, enhancing your team’s communication is never a poor moment. Slack simplifies team communication by providing a single entry point for all messages (Satyanand, 2021).
c. Collaborative funding: CoBudget
Whether you are a startup or an established company, discussing finances is never simple. Often, it is up to the chief financial officer to get information from different places and figure out what it means (Bhatia & Steinmuller, 2018).
d. Creating content or Creativity
â€œEvery firm is now involved in the media industry in some capacity. Buyers seek companies that can convey a compelling story via their products or services. It is more important to stand out from the competition than to highlight a company’s story” (Shapiro, 2018).
e. Crowdsourced decision-making: Loomio
Decision-making that is successful leads to action, whereas effective decision-making leads to innovation. â€œCollaboration is necessary since the best choice does not always come from the boss” (Shapiro, 2018).
f. â€œWriting together: Google Docs.”
â€œGoogle Docs is the greatest document collaboration platform. It is a free tool that allows you to create and share documents in real-time, such as spreadsheets, notes, and presentations” (Bhatia & Steinmuller, 2018).
g. â€œCollective Knowledge: ProProfsâ€
In order to achieve the internal or external goals of your startup, you must have access to pertinent data. With the knowledge base software from ProProfs, you can collect, organize, and store Information in one place (Bugdol, 2018).
Task 5 (LO1): Develop your Leaders (15 marks)
Whether or not to embrace digital transformation will be one of the most crucial a business will face. These enhancements will be ineffective if leaders lack the necessary skills.
Communication: The capacity to communicate effectively is vital for a leader. This communication helps CEOs communicate the significance of digital transformation with their workers. This could help Amazon remove uncertainty and gain employee support for digital transformation decisions (Bugdol, 2018).
Creativity:Creativity and imagination are vital for leadership. The capacity of leaders to think creatively sets them apart from their peers. In order to transform the firm into a digital corporation, inventive concepts that do not require extra work from the workforce may be applied (Shkarlet et al., 2020).
Active listener: A leader must possess the ability to listen to what others have to say. A good listener pays close attention to what others are saying and answers as quickly as possible to their queries. As a result, people are more likely to think things through before making a choice, and leaders’ credibility increases.
Motivational: A good leader must be able to inspire people to get past problems and fully implement the organization’s digital transformation. (Shkarlet et al., 2020).
Positive attitude:The digital transformation program must be directed by a person with a positive attitude. Individuals must have a positive mindset to do their best under pressure.
Relationship building: Amazon must have a leader who can establish good relationships with others. This would be a better way to get people to trust their leaders and ensure their actions are being watched closely (Shkarlet et al., 2020).
Ever since anybody can remember, Amazon has been an incredibly strategic company. A customer-centric mindset will guide the company’s future. If you want to succeed on Amazon as a seller, you must always keep Amazon’s primary goals in mind. If one adopts Amazon’s strategy, it is also feasible to be successful on their platform. Organizations must adopt new and enhanced digital technologies to remain competitive in the current market. Amazon must digitally upgrade its business processes to flourish in the market and forge greater consumer relationships. ” To make organizational changes, leaders must be able to communicate well and build strong relationships,” as Shkarlet et al. (2020) report.
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