257: Unpacking How Amazon Have Expanded

As the global business landscape continues to evolve, giants like Amazon consistently challenge the status quo, setting the bar for disruption and expansion. From its humble beginnings selling books online, Amazon has grown into nearly every conceivable retail category, and is now expanding into other sectors and industries. It is redefining what it means to be a “retailer”. But what makes Amazon so adept at pioneering into unchartered territory? And what can other retail businesses learn from their strategy and approach? Join Oliver Banks as we explore how Amazon’s approaches to work culture, experimentation, acquisitions, and setting expectations have built an empire that dares to tread where few others do.

Listen to this podcast episode where you’ll discover:

• The unique ways of working that Amazon use to encourage change, agility and speed.
• Real-world examples of Amazon’s willingness to experiment, accept failures, and learn from them.
• The acquisitions that propelled Amazon into new sectors, developing their multi-industry and global presence.
• The role of culture and values in pushing Amazon to continually set new industry standards.

 

 

Drive disruption with Oliver Banks

Oliver and OB&Co help retailers accelerate their transformation initiatives whilst successfully navigating disruption. Discover how, together, we can drive your retail transformation forward.

Connect with and message Oliver Banks on LinkedIn or by email at oliver.banks@obandco.uk.

⭐ For hands-on transformation support or fractional transformation leadership, ask about the Transformation Accelerator.

⭐ For ongoing guidance and coaching throughout the change journey, then my Transformation Navigator service is for you.

⭐ Or Maximise chances of success and keep your initiatives on track with our Transformation Tune-Up service.

Amazon’s Leadership Principles

Amazon’s Leadership Principles have remained consistent over time. Whilst they often outnumber the values or principles of other companies, Amazon have managed to create a culture where these principles are put into practice every moment of every day. This has supported their growth and innovation. They are:

1. Customer Obsession
2. Ownership
3. Invent and Simplify
4. Are Right, A Lot
5. Learn and Be Curious
6. Hire and Develop the Best
7. Insist on the Highest Standards
8. Think Big
9. Bias for Action
10. Frugality
11. Earn Trust
12. Dive Deep
13. Have Backbone; Disagree and Commit
14. Deliver Results
15. Strive to be Earth’s Best Employer
16. Success and Scale Bring Broad Responsibility

Read more about each of Amazon’s Leadership Principles.

More episodes to listen to next

If you enjoyed this episode, check out these ones next. The first two recommendations are great if you’re inspired to find new revenue and profit avenues for your business.

In episode 255, Oliver explores why you might want to consider Moving Beyond The Traditional Business Model. It also introduces the concept of “valueless assets” which is a crucial perspective to help you find a viable and scalable business.

Then in learn from Oliver’s experience in episode 256: Creating A New Business Model. This is not an easy endeavor and requires creativity as well as diligence to ensure that the new business model (and business) integrates with the broader, core organisation.

To learn more about Amazon, try episode 110: Amazon: Friend Or Foe?

And finally, as discussed in this episode, acquisitions have played a vital role in Amazon’s expansion. They’ve often provided access to a market and have developed their organisation’s capability. If you need to successfully acquire a company, listen to episode 215: Making Acquisitions Successful.