The two 20th Century business leaders I have chosen to do my report on are Jeffery Bezos, founder and CEO of Amazon.com, and Howard Schultz, Chairman and CEO of Starbucks. In this paper I will include the biographical information, accomplishments, and impact each leader has made upon his business and industry. I will include the global impact each leader has made. I will conclude each section by addressing what I have learned from each leader and how I plan to apply this knowledge to my business career. The first section of my paper will be on Jeff Bezos, the second part will be on Howard Schultz.
Jeff Bezos was born on January 12, 1964, in Albuquerque, New Mexico. From an early age he showed an interest in electrical components and how they interacted with one another. After high school Bezos went on to attend Princeton University, where he graduated with a degree in computer science and electrical engineering. After graduating from Princeton, Bezos got his start in the business world by working on Wall Street. He worked at several firms on Wall Street, including Fitel, Bankers Trust, and the investment firm D.E. Shaw where he became the companies youngest vice president in 1990 (“Jeffery Preston Bezos” 1). He quit his job at D.E. Shaw investments four years later to pursue the potential his saw in the world of the internet marketing by opening an online bookstore. One year later Bezos opened Amazon.com after a successful beta test of the website. Thirty days after the successful launch of the site, Amazon.com was selling books across the United States and in 45 other countries. In 1997 Amazon.com went public and not only outpaced traditional retailers in the field of e-commerce, but became an e-commerce leader.
Jeff Bezos accomplishments are numerous. He has transformed the world of online retail sales by making Amazon one of the first to offer a complete on-line storefront for any retailer who wants to sell goods through Amazon’s site. This enabled Amazon to bring more products to customers minus any warehousing costs (Hartung 2). As CEO of Amazon, Bezos oversaw the creation of the kindle, and the Kindle Fire. These devices not only promoted additional on line buying, but gave consumers a tablet already set up with the intent to get consumers to start shopping at Amazon.com.
Since the creation of Amazon.com, and other similar online retailers traditional retail space has been declining since 2009. Major retailers such as Wal-Mart, Macy’s, and Target have been forced into stating holiday shopping earlier and earlier each year, in an effort to offset sales lost to on-line retailers. The trend of shopping on-line has forced traditional retailers to stay open longer, pursue a policy of increased staffing, and constantly launch new promotions to stay competitive with on-line retailers. Retailers have now been forced into matching on-line prices, despite having a higher overhead cost...