Amazon is on the verge of becoming the world’s first trillion-dollar company. It’s incredible success boils down to five key factors. The first is that innovation at Amazon is driven form the very top, mentioned as a key tenet at the corporate strategy itself. Instead of viewing merely physical products as assets, at Amazon it is ideas that are seen as such. Since business innovation is prided so much here, so risk-taking is encouraged and failure is accepted as long as one moves ahead with the next innovation. These innovations are driven by -data-backed and customer-centric ideas. Muddled thinking is a complete no here as idea have to be clear, risks taken and the learning incorporated into the next initiative.

https://www.innovationexcellence.com/blog/2018/11/16/how-does-amazon-do-it-five-critical-factors-that-explain-amazons-incredible-success/

Uploaded Date:27 November 2018