Question
Amazon's approach to risk and growth has evolved significantly over the years. Initially, they experimented with different models such as Amazon Auctions and zShops, which did not succeed due to customer expectations and complexity. However, these failures were instrumental in shaping their future strategies. They learned from these experiences and evolved their approach, leading to the creation of the successful Amazon Marketplace. This shows Amazon's willingness to take risks, learn from failures, and continuously adapt for growth.
This question was asked on:
Amazon Auctions, Bezos' answer to eBay, taught him that customers expected to pay a low, fixed price on Amazon but had a different mindset when bidding on eBay that didn't translate. The failed zShops proved too complicated for third-party sellers and customers but later evolved into the wildly successful Amazon Marketplace.
Receive new free presentations every Monday to your inbox.
Full content, complete versions — No credit card required.
