Amazon and its Love for Low Prices
All of us use Amazon. Brian Dumaine’s book Bezonomics (titled after its founder and ex-CEO, Jeff Bezos) gives an awesome overview of how the company operates. Bezos truly believes that a key factor about Amazon is: “We are genuinely customer-centric… (unlike other companies that) are focussed on the competitor, rather than the customer.” Of course, customer satisfaction is a moving target. Because customers are “divinely discontent”. No wonder then Bezos has insisted on having a Day 1 mentality, to act with the same enthusiasm and fear like it is the first day of the job/company. At an all-hands, he was asked would Day 2 would be like. His answer says it all: “Day 2 is stasis. Followed by irrelevance, followed by excruciating, painful decline, followed by death.” In fact, just a few years back, he said something hard to imagine today: “Amazon is not too big to fail… One day, Amazon will fail. Amazon will go bankrupt. If you look at large companies, their life spans tend to b...