Subject category:
Strategy and General Management
Published by:
Harvard Business Publishing
Version: 6 June 2021
Revision date: 15-Jun-2022
Length: 52 pages
Data source: Published sources
Abstract
This is a Spanish version. In February 2021, Amazon announced 2020 operating profits of USD22,899 million, up from USD2,233 million in 2015, on sales of USD386 billion, up from USD107 billion five years earlier. The shareholders expressed their satisfaction, but not all were happy with Amazon's meteoric rise. Many traditional retailers in the United States were going bankrupt, while major competitors such as Walmart and Best Buy were forced to invest aggressively in online retailing to prevent their market share from eroding. Every retail sector appeared to be under threat, fueling anxieties that Amazon and America's other tech giants were becoming too big and powerful. These anxieties were only exacerbated by the COVID-19 pandemic, during which Amazon grew rapidly, while most traditional retailers foundered. Amazon's increasingly clear ambitions in healthcare and autonomous vehicles were also causing concern. In early 2021, Amazon was drawing criticism from across the political spectrum in the United States, with calls for it to be broken up. The European Union was also investigating its practices. Meanwhile, on February 2, 2021, Amazon reported that company founder and CEO Jeff Bezos would step down from his role and become executive chairman of the board. Andy Jassy, the leader of Amazon Web Services (AWS) would become the new CEO. How would Jassy navigate the many challenges to come and continue Amazon's record of success?
Locations:
Industries:
Size:
> 1 billion; Fortune 500
Other setting(s):
1995-2016
About
Abstract
This is a Spanish version. In February 2021, Amazon announced 2020 operating profits of USD22,899 million, up from USD2,233 million in 2015, on sales of USD386 billion, up from USD107 billion five years earlier. The shareholders expressed their satisfaction, but not all were happy with Amazon's meteoric rise. Many traditional retailers in the United States were going bankrupt, while major competitors such as Walmart and Best Buy were forced to invest aggressively in online retailing to prevent their market share from eroding. Every retail sector appeared to be under threat, fueling anxieties that Amazon and America's other tech giants were becoming too big and powerful. These anxieties were only exacerbated by the COVID-19 pandemic, during which Amazon grew rapidly, while most traditional retailers foundered. Amazon's increasingly clear ambitions in healthcare and autonomous vehicles were also causing concern. In early 2021, Amazon was drawing criticism from across the political spectrum in the United States, with calls for it to be broken up. The European Union was also investigating its practices. Meanwhile, on February 2, 2021, Amazon reported that company founder and CEO Jeff Bezos would step down from his role and become executive chairman of the board. Andy Jassy, the leader of Amazon Web Services (AWS) would become the new CEO. How would Jassy navigate the many challenges to come and continue Amazon's record of success?
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Locations:
Industries:
Size:
> 1 billion; Fortune 500
Other setting(s):
1995-2016