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CSIA 350 Project 3 - Risk Management Strategy_OlufemiAkinyemi.docx

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Running Head: RISK MANAGEMENT STRATEGY1Risk Management Strategy for an E-commerce CompanyOlufemi AkinyemiJune 16, 2020
RISK MANAGEMENT STRATEGY2Executive summaryAmazon is an online or e-commerce company that was coined in the years 1994 by the founder Jeff Bezos (Kristensen et al. 2017). The initial idea or operation of the company was to deal as an online store mainly focused on selling of books. The company headquarter is located at Seattle, Washington D.C in the United States. Amazon has expanded exponentially dealing with a wide range of products and operating almost all across the world. The main products that Amazon deals with are the sale of books through the Amazon kindle, thus retaining its initial idea of being an online book vendor. Also, the company deals with other range of products and services such as streaming of movies, cloud computing services and banking such as the production and branding of credit cards (Amazon, 2019). Besides, through the A.W.S, amazon web services, the company offers a wide range of services that extends to computing, storage through the database services analytics such as statistical analysis as well developing and marketing application (Emerson, 2019). The company has experienced significant events in the past, for instance, the company faced significant hitches in the early 90s and 2000 that were attributed to the system outage a disconnected experienced in its logistical system that leads to the fail shipments (Emerson, 2019). Besides, the company has been evolving and adding to its initial business model. Currently, Amazon has been integrating a wide range of services and products to its online store as a competitive strategy to ensure that customers get all their needs under one store. During its earlier years, the company operated from a garage, and most investors were skeptical about investing in it. However, time proved them as it came out as among the giant leading in the e-commerce industry. A major event with the company came in the year 1997
RISK MANAGEMENT STRATEGY3when it generated a revenue of$54 billion raising its market value to a significant level of $438 million (Barton & MacArthur, 2019). Similarly, in the year 1998, the company also marked a major transition from just selling online books and integrating other products such as toys and CD players (Amazon, 2019). In the year 2007 the company launched one of its online platform where customers could read the books purchased from the online store known as the Amazon Kindle e-reader and in the year 2011, the company upgraded to Kindle Fire (Amazon, 2019). Other tremendous growth and achievement came in the year 2006, when the company develop the cloud computing services, in 2010 Amazon studio while in the year 2013 the company provided a market place where art was displayed, advertised and sold (Jackson & Orebaugh, 2018). An incredible move made by the company that is worthy of noting is that Amazon has gone an extra mile to buy such companies such as Kiva systems, Goodreads, Annapurna Labs, Audible.com, Alexa.com, Zappos just but to mention a few.

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