With one of the most successfully built brands Amazon, which is continuously on rising and seeking expansion, the founder Jeff Bezos is not shy to admit that one day Amazon might fail.
Recent Developments At Amazon
In a recent fold of activities, Amazon announced setting up its headquarters in New York’s Long Island City and also build a new office in Virginia suburbs of Washington DC which would lead to an opening for about 25000 jobs in both the cities. Though expansion looks big time on Amazon’s agenda, the existing employees showcased their concern over this expansion and also threw some tough questions to Jeff Bezos, who had a meeting with his employees in Seattle. In one particular question, an employee asked Bezos about the lessons that the company’s visionary founder had learned from the recent turmoil in the retail sector and more particularly the bankruptcy of American department store chain, Sears.
Jeff’s Statement
“Amazon is not too big to fail. In fact, I predict one day Amazon will fail. Amazon will go bankrupt. If you look at large companies, their lifespans tend to be 30-plus years, not hundred-plus years,” Bezos said, as heard by the publication in a recording of the meeting.
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The goal of everyone at Amazon is to “prolong that demise” Bezos said. He further added that the company to “obsess over customers” -something he has said in the past as well could achieve this. “If we start to focus on ourselves, instead of focusing on our customers, that will be the beginning of the end. We have to try and delay that day for as long as possible,” he said.
Employee Concerns
A lot of employees should their concern on the aggressive expansion strategy that Amazon has been following and how would it shape the future. Amazon as of now has employee strength of 550,000 lakh people worldwide. The fast pace growth of the company has caught attention a lot of firms and powerful individuals. In fact, president Donald Trump has also targeted the company through Twitter, on quite a few occasions. The European Union has also started an antitrust probe against Amazon over its use of merchant data. These antitrust violations and government regulations are said to be the biggest concerns amongst the employees as of now.
