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Analyze Current Trends Regarding Technology in
Business

BUS-7101 #6

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Joseph Giammanco

Richard C. Thompson, Ph.D

January 4, 2018

NORTHCENTRAL UNIVERSITY

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BUS-7101

Richard C. Thompson, Ph-D

 

 

Changing Times: Business
Administration in the 21st Century

Week #6

 

 

 

 

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Introduction and Current Trends

As society becomes more dependent on
technology so does today’s companies need to adapt to the modern consumers
desires.  This paper will examine current
trends in technology utilized by Amazon, Amazon CEO and founder Jeff Bezos
said, “Amazon is a titan of e-commerce, logistics, payments, hardware, data
storage, and media”.  According to
(Thaggard 2018), “Amazon is a great example of a modern technological
innovator.  Their use of new technology
will likely alter the everyday-American shopping experience in the future.  Creating new and interesting ways to
communicate and deliver products to customers is one way that Amazon stays on
top of the online retail game, and other competitors should take note of
this.”  Additionally, where experience
and convenience is everything, Amazon has lead the way in reinventing
technology to enhance their consumers experience and increase their company’s
brand. 

Current Trends

Over the last several years technology
innovations has shaped industry specifically in the areas of Internet of Things
(IoT), cloud computing, autonomous vehicles, drones, block chain, augmentation
and virtual reality.  Hagen, Hajj, and
Acker (2018), anticipate more sophisticated digital assistants and machine
learning (artificial intelligence or AI) will become the norm.  While B?li?a, Žuka and Krasts (2016), believe
analytics platforms (AP) and business Intelligence (BI) has experiencing an explosion
that is noteworthy of recognition. 
Amazon’s rise to dominance is characteristically remarkable, because it
demonstrates the ever-changing dynamics a company must do in order to succeed
in the modern day tech sector.  An area
not to be believed as a strength for Amazon but rather Google or Microsoft is
Cloud computing.  Amazon is a web based
commercial e-commerce consumer retailer however, Amazon recognized the market
and expanded to “Amazon Web Services (AWS)”. 
B?li?a, Žuka and Krasts (2016), wrote about Amazon’s undertaking as
risky and explained the criticism the company took for the size of their
investment.  Their research shows
stakeholders were skeptical and were worried the undertaking could lower profits
because of the expense it took to launch the Amazon Web Service and ultimately
take longer to see a profitable return on investment.  However, according to B?li?a, Žuka and Krasts
(2016), “as of late 2016, Amazon’s AWS unit has captured by far the largest
share of the corporate cloud computing business, controlling 70 percent or more
of the public cloud infrastructure market, according to Oppenheimer & Co.
Microsoft and Alphabet are second and third, respectively”.

Globalization

Amazon is and has been the fastest
growing e-commerce internet based consumer retailer.  Statistics found In Strategic Financial
Management Casebook (2017), concluded, “in 2015, Amazon became the fastest
company ever to reach $100 billion in annual sales”.  Amazon through the internet has reach global
dominance and conducts business in just about every country on the planet.  Furthermore, Amazon offers a wide array of
services to customers worldwide including selling consumer goods, business
development, advertising services and credit card programs.  Through its online retail web platform,
Amazon offers a multitude of product categories with thousands of items to
millions of consumers.  In addition,
Amazon has taken a global stands on using its technology for sustainable
resources.  Amazon is a leader in
reusable resources such as wind farms, eco-friendly plants (operations centers)
and solar energy.  According to Amazon on
LinkedIn (2018), “Amazon Wind Farm Texas is an array of 300-foot-tall, white
turbines that dot the landscape just outside the West Texas town of
Snyder.  There are more than 100 turbines
and their scale is enormous. When the blades are spinning, they cover an area
nearly equal to two football fields.” 
Furthermore, “Amazon has set a goal to host solar energy systems at 50
fulfillment network buildings by 2020. Amazon will host solar energy systems on
15 fulfillment facility rooftops across the US, with the capacity to generate
41 megawatts (MW) of power.”

Leadership at Amazon

Jeff Bezos, is the founder and CEO of
Amazon, and is one of the richest people in the world.  Amazon has 14 leadership principles which
are: Customer Obsession, Ownership, Invent and Simplify, Are Right, A Lot,
Learn and Be Curious, Hire and Develop the Best, Insist on the Highest
Standards, Think Big, Bias for Action, Frugality, Earn Trust, Dive Deep, Have
Backbone; Disagree and Commit and lastly Deliver Results (Amazon Services,
LinkedIn, 2018).  Furthermore, Bezos has
5 key leadership principles first is “Vision Matters” which means have a
long-term clearly articulated company vision. Second, “Improve your thinking,
simplify your message” communication is key speak in plain language effectively
express and listen to ideas.  Third,
“Staying committed” develop and execute your plan, stay the course don’t let
people derail you and have a thick skin don’t let other bring you down.  Forth, “Know your market” understand your
opportunity by knowing where you are operating in know your business.  Fifth, “Never miss an opportunity to
self-promote” at every opportunity talk about your company and the good aspects
of it. 

New Research at Amazon

In one word for Amazon research it is
“change” Dovleac (2015) said, “the most important drivers of technological
change are governments and citizen-consumers”. 
Amazon’s driver is consumer based (citizen-consumers) change they evolve
with and lead that change to be ahead of the consumer wants.  Amazon understands the need to adapt and
according to (Al-Haddad & Kotnour, 2015) “if an organization is to survive,
it must adapt to changes in technology, the marketplace, and systems in the
organization, economy, social values, and the environment”.  Amazon has several new initiatives they are
researching for the future including: powering a clean future, AWS and
sustainability, energy and environment, packaging, new business initiatives,
global operations and responsible sourcing. 

Conclusion

Amazon is a global leader in retail e-commerce
and the reason why is their understanding new and emerging technology.  Amazon’s LinkedIn account is clearly well
done and easy to follow.  They have
expressed their vision, mission and goals for the future of the company. 

 

 

References

Thaggard,
W. (2018). online Available at:
https://www.linkedin.com/pulse/amazon-ahead-tech-trends-will-thaggard/
Accessed 6 Jan. 2018.

Hagen,
H., Hajj, J. and Acker, O. (2018). 2017 Technology Trends. online
Strategyand.pwc.com. Available at: https://www.strategyand.pwc.com/trend/2017-technology-trends
Accessed 6 Jan. 2018.

B?li?a,
S., Žuka, R., & Krasts, J. (2016). Opportunities for the Use of Business
Data Analysis Technologies. Economics & Business, 2820-25.
doi:10.1515/eb-2016-0003

14:
Wealth creation by Amazon. (2017). Strategic Financial Management Casebook,
413-440. doi:10.1016/B978-0-12-805475-8.00014-8

Amazon
Services | LinkedIn. (2018, January 3). Retrieved from
https://www.linkedin.com/showcase/amazon-services/

DOVLEAC,
L. (2015). Innovation and new technologies – pillars for a business sustainable
development. Bulletin Of The Transilvania University Of Brasov. Series V:
Economic Sciences, 8(2), 385-390.

Al-Haddad,
S. & Kotnour, T. (2015). Integrating the organizational change literature:
A model for successful change. Journal of Organizational Change Management,
28(2), 234-262, doi: 10.1108/JOCM-11-2013-0215

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