Technology has advanced in many ways in the wake of the 21st century. Many organizations continuously evaluate how technology can improve their business. Most firms in the current system cannot operate in the absence of internet and computer resources. Several software applications work to support the various aspects of modern-day businesses. The most significant change that technology introduced in the industry today is in the enhancement of correspondence speeds. Communication between vendors and purchasers is one of the essential factors that come into play to determine the profitability of a company. In the unlikely event that there is a communication breakdown between a vendor and a purchaser, many processes of online stores such as placing an order, purchases and subsequently delivery of commodities would suffer. In regards to information communication technology advancements, many market experts rate Amazon among the best. The firm continually innovates ways of tapping into the extensive online resources.
COMPANY DESCRIPTION
Amazon is American e-commerce and cloud computing company with headquarters in Seattle, Washington (Amazon, 2018). Jeff Bezos founded the company in 1994; the technology giant ranks as the most prominent internet retailer worldwide taking into account the revenues and market capitalization. The business also the second largest after Alibaba Group when comparing total sales. This firm started as an online bookstore before diversifying to other ventures such as video, mp3 streaming, software, video games, furniture, and apparel. The retailer also stocks a wide range of electronic products and is the world’s most prominent provider cloud infrastructure. The online shopping company dethroned Walmart as the United States most valuable retailer in regards to market capitalization.
Figure 1: Amazon headquarters in Seattle, Washington, D.C.
Company Vision, Goals, Core Values
Customer obsession, boldness, and collaboration are some of the core values that Amazon continually rely on to improve their capability and grow business. The organization describes their business customer-oriented. The firm appreciates feedback and opinion from customers that are instrumental in strengthening their grip on the market. The company requires the employees to focus on exceeding customer expectations. The corporation continues to set the pace in consumer preference and fashion (Burnson, 2018). Amazon’s boldness is evident in the policies that encourage employees to explore great innovation. The firm’s shared values also facilitate openness for new ideas.
SPECIFIC USES OF ICT
With the evolution from a lowly online bookseller to being the most dominant player in the retail sector, Amazon had to adopt innovations to improve their operations. The company’s supply chain management is one of the vital strategies that ensure the retailer delivers millions of products to the clientele base at the correct fee, and faster than any other players. Being the market leader, and a major trendsetter in regards to innovativeness, the discussion made in this section of the paper will be looking at some of the ways through which ICT fits in their agenda, goals, vision, and values.
Amazon uses cognitive technology that is connected to the Internet of Things (IoT). The technology allows the online store to use technology that provides information about the customer's purchase history, their personal preferences, and buyer information so that their customers can enjoy shopping. The cognitive technology and the internet of things collect data that used to enhancing customer experiences. The system optimizes the store operations, improves inventory and supply chain management. Amazon adopted the practice enabling the firm to comprehend customers’ behaviors and patterns allowing to deliver a personalized shopping experience for the clients. A quick look at the Amazon website reveals that what is in-store and the prices. Amazon.com depends on the strategy to retrieve data from electronic commerce website and make decisions on the books that are more likely to sell for stocking at the storefront.
Figure 2: Employees Prepare Products for Delivery at one of Amazon’s Stores
ICT facilitates smooth conveyance of information and interpersonal relations between the employees and staff of the company, as far as the goals, values, and vision of the company are concerned. They lean towards fostering customer boldness and collaboration. The system encourages more interaction channels and relationships among the employees, the company, and customers. The incorporated advanced ICT mechanism in the company can, therefore, be said to have been effective in ensuring that there is efficiency through which information is passed from the customers to employees and the feedback from the clients concerning their service experience. The table below represents how Amazon managed to grow sales, customer numbers, and profits following the implementation of the technology.
Table 1: Amazon’s Results
Year
2014
2015
2016
2017
Revenue($)
88,988,000
107,006,000
135,987,000
177,866,000
Online customers
270 million
297 million
304 million
310 million
Gross Profit ($)
26,236,000
35,355,000
47,722,000
65,932,000
The trends attest to the fact that the company’s financials have been increasing since the adoption of cognitive technology. For instance, the company doubled the revenue figures in just three years between 2014 and 2017. The gross profits grew by more than 150% over the same period. The company also recorded a steady growth in the number of shoppers.
ICT enabled Amazon to wade through some of the most devastating setbacks in the firm’s operations. ICT plays a role in preventing, responding to allowing a company to recover from conflict. In the wake of a crisis, Amazon does not undertake a quick rebuttal of any alleged claims. The firm takes advantage of ICT capabilities to stay ahead of competitors in assessing damage situations and taking corrective actions. Amazon apologizes for the breaches, as soon as they are reported, then seeks to compensate and correct their messes as quickly as possible (Zetlin, 2017).
CONCLUSION
In conclusion, Amazon’s ICT systems remain crucial to their success in the strictly competitive retail industry across. The corporation improved their business through the implementation of cognitive technology, efficient communication, and proper analysis and correction of crisis situations. The strategy that the firm applied not only interrupted the retail sector and transformed people’s views on how online selling platforms should operate. The company’s rise to prominence bears much tribute to the organization’s ability to extensively innovate and exploit the freely available online resources to market their products on a broader scale. The ICT fraternity regards Amazon as the indisputable champions in discerning, innovating, and implementing systems that efficiently transform business fortunes.
REFERENCES
Amazon, 2018. Available from: https://www.aboutamazon.com [Accessed 8 Apr 2018].
Burnson, F., 2018. 6 Ways Amazon Is Changing Supply Chain Management in 2016 [online]. Software Advice. Available from: https://www.softwareadvice.com/resources/amazon-supply-chain- management/ [Accessed 8 Apr 2018].
Zetlin, M., 2017. Here's How Amazon Gets You to Buy More Stuff [online]. Inc. Available from: https://www.inc.com/minda- zetlin/heres-how-amazon-gets-you-to-buy-more-stuff.html [Accessed 8 Apr 2018].
TABLE OF FIGURES
Figure 1: Amazon headquarters in Seattle, Washington, D.C.. 4
Figure 2: Employees Prepare Products for Delivery at one of Amazon’s Stores. 5
Table 1: Amazon’s Results. 6
