Amazons 3-year strategic plan - Speech or Presentation Example

Amazon’s 3-year strategic plan Amazon’s 3-year strategic plan Amazon is one of the leading internet consumer shopping centers. It offers millions of new, used and refurbished and collectable items in categories such as apparel, hoes, personal accessories,consumrer electronics, DVDs, videos, Gournament food, office products, hardware and books.(citation needed).Much of its revenue, according to Plunkett (2006) , comes from an enabling commerce for other companies. It has a well developed infrastructure and strategic plan designed to achieve its goals and missions within a long term period and stay competitive with a missions of gaining a substantial market share.

Amazon’s strategic plan is a step-by-step guide created to map out how it will accomplish its goals and set its foundations so that the entire company knows what is expected of it. Its three-year strategic plan is a recipe for its success of its set visions in the chosen market and how it will serve its customers effectively, consistently, and profitable. Five vital elements of Amazon’s three-year strategic plan are as follows. a) Vision To be leading online store in serving individuals and small business by providing quick online solutions that are environmentally and technology-based friendly. b) Mission The main mission of Amazon Inc is to provide online quality products and services with a click of the button on their website.

Amazons mission is divided into two programs: Amazon market place and merchandise. These divisions allow third parties to integrate all their products owned by their third parties using the features besides allowing individual complete their transactions c) Critical success factors Amazon’s critical success factors lie in a number of resources leveraged together to achieve the core competence that in turn assist the firm achieve its stated mission of profitability, growth and survival in the ever-changing online industry.

Intangible resources Amazon’s intangible resources such as its brand name, logos, and the management’s expertise have enabled the firm to stay ahead of its competitors in providing solutions to its customers. For instance, through a brand loyalty, the company attracts millions of customers online. Technology Amazon will continue to derive its strength in technology that enables it to serve its customers with speed, accuracy and more conveniently any time always. Considering that technology is rapidly changing, an adoption of a sophisticated technology to serve its customers by providing credible and quality product standards, carrying out market research so as to stay in touch with customer needs, will be a key milestone towards achieving their missions.

The establishment of technology-based communication systems, will enable the company establish its internal and external communication policies that will enable the firm to effectively and efficiently respond to the needs of customers and other interested stakeholders. Human resources Amazon’s success is derived from a pool of experienced management and staff that responds rapidly to their customer needs. Through offering superior quality of products and services, the firm will be able to serve a wider customer base.

It is management‘s commitment to instituting a sound and realistic policies will enable the firm to stay competitive and gain a wider global market share in online solutions. Success of Amazon will be derived from its value it attaches to its employees. Employees are the most valuable resource at Amazon Inc as they serve customers diligently and with creativity. c) Strategies and action plans A strategy is a game plan on how work will done and by whom in Amazon to realize its goals.Considereing the fact that the firm is an online venture, it will tailor-make its strategies of product and market development to serve the need for physical contact between the user and the firm has been removed.

This implies that its internal operations reflects our philosophy and aims that best hold at promoting the goals of profitability and competitive market position. Through strategic alliance with their major competitor such as buy.com, Amazon will integrate vertically so as to gain skills and managerial expertise. It will also enable the firm learn and grow their business through a joint budget on advertising and other promotional tools. Through designing of a new customer service through modern and friendly customer interaction programs online, Amazon hope to achieve its visions an missions of growth in sales, survive in the very competitive technology based-based industry and make a substantial profits.

This will maximize the shareholder’s value. Through continued research and development, it will integrate all the quality continuous programs in the value chains and systems to enable the company serve its customers with quality products and services. d) Prioritized implementation schedule Amazon’s three-year strategic plan, 2012, 2013 and 2014 Activity Responsibility Duration (years) Start date Finish date remarks Others Mission revisions Executive and BOD 0.5 Dec,211 May,2012 Industry analysis Executive 0.

5 Dec,2011 May,2012 Strategy choice Executive 0.5 May,2012 Nov,2012 Integration and alliance Executive 0.1 Dec, 2011 Jan,2012 Market development Executive 0.5 Dec, 2011 May,2012 Product development Executive 1.0 Ja,2012 Jan,2013 concentration Executive 1.0 Jan,2013 Jan,2014 Technology Executive 3.0 Jan,2012 Jan,2014 Others Executive all - - The above strategic plan is not detained. There will be an overlap of programs aimed at fast-tracking of events due to limited time available and the urgency of strategies to achieve the stated goals.

It will adopt a management by projects approach in accomplishing these set of strategies. The Amazon’s strategic plans will take three years through which it will be revised and changed to respond to ever changing needs of customers. All the strategies start date progress and completion data is as shown below. e) Summary A collection of Amazon’s objectives, strategies , actions and responsibilities should be become its major focus in the accomplishment to its missions so as to realize profits a nd a maximum return on the shareholders’ value.

References I. Kerzner, H 2004.Advanced project management: best practices on implementation. John Wiley and Sons: New York II. Plunkett J. W., (2006).Plunkett's entertainment and media industry almanac. Plunkett Research, Ltd: New York III. Wit D, B and Meyer 2005. Strategy: content, process, context. Thompson: London.