Amazon paste its 1997 Letter to shareholders every year!
But what’s so important in that, let’s find it out together:
It basically talks about the core value of the company which defines the whole model of Amazon, which more and less justifies Jeff Bezos’ reason to paste it every year.
Amazon was only a bookselling platform in 1997, but its strategies and models for the business were very clear from the beginning, which was to become the market leader which also translates to higher revenue, profitability, greater capital velocity, return on capital invested.
For that Jeff Bezos wants to invest aggressively in expanding, leverage customer base, brand, and infrastructure to become the “enduring franchise”
Obsess over Customers
Amazon is a customer-centric company, their main idea is to provide customers something that they simply could not get any other way. For that, they dramatically lowered the prices to increase customers' value. They want to capture the whole market which surely is long term long.
Employees
What type of employee does Amazon hire?
They have made it very clear that they want people who work hard, long and smart, and they can’t choose one option in this. The model they follow is of lean culture, which means maximizing values while minimizing waste, because its focuses on hiring and retaining versatile and talented employees.
