Introduction to Company
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Amazon is an American multinational technology company specializing in e-commerce, cloud computing, digital streaming, and artificial intelligence (AI). Amazon founded in 1994 by Jeff Bezos, is one of the world's largest online retailers. Amazon provides various services including Amazon Prime, which offers unlimited streaming of movies and TV shows alongside free two-day shipping; Amazon Prime Video, a streaming platform with a wide selection of content; Amazon Web Services (AWS), a cloud computing platform offering specialized services; Amazon Fresh, a global delivery service for fresh produce; and Amazon Go, a technologically advanced physical store designed for convenient shopping experiences (Urrutia, 2023).
Challenges
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The main challenges and weakness of Amazon Company is dependency on third party seller. It may cause subsequent result such as quality control. Negative experiences with third-party sellers can harm Amazon's reputation and erode customer trust. Despite efforts to prevent it, counterfeit and inauthentic products occasionally find their way onto Amazon's marketplace. These products can damage Amazon's brand reputation and result in customer complaints and returns. Next, the company handles massive customer data, including personal and financial information, which can make it a target for cyberattacks. If this data were to be compromised, it could lead to significant issues for Amazon and its customers, including identity theft and financial losses. Any breaches or misuse of data can lead to significant financial and reputational damage. (Pereira, 2024)
Oppurtunities
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Amazon can treat their sellers as their partnerships. This is said because Amazon provides a platform for millions of users around the world to showcase their products and conduct business with other people. Amazon can form a partnership bond with the sellers. This can help Amazon understands the requirements from the sellers which can help boost the growth of the sellers’ business and Amazon itself. The sellers can provide useful insights to Amazon regarding the business models and challenges faced while conducting business and come up with a solution with Amazon that would benefit all parties before implementing it. Besides that, this allows Amazon to have an edge over other e-commerce platforms as this partnership model will help attract new sellers. (Dutiya, 2022)
Solution 1
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One of the solutions that can help with Dependency on third-party sellers is Strengthen Vetting Processes for Sellers. Based on the Cambridge Dictionary, Vetting process is the action of examining someone or something carefully to make certain that they are or it is acceptable or suitablefor something (Cambridge, 2024),
This means Amazon can Conduct thorough background checks on the individuals and entities applying to sell on Amazon. This includes checking their personal and business histories for any past fraudulent activities, legal issues, or financial instability. Thorough background checks and proof of authenticity reassure customers about the reliability and integrity of sellers on the platform, enhancing overall trust.
Solution 2
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Additionally, Amazon should protect customer data and prevent cyberattacks to effectively manage extensive customer data. For instance, amazon need to ensure all personal and financial data is encrypted in transit, implementing end-to-end encryption for communication between users and Amazon’s by using AES-256 standards for blocking ciphers (Mathis, 2024). Not only that, Amazon can utilize artificial intelligence (AI) to secure customer data. By using advanced algorithms, AI can encrypt data in an efficient manner. AI also can detect suspicious behaviours, providing a real-time respond to prevent hackers from misusing customer data (Segal, 2023).
Pereira, D. (2024, May 8). Amazon SWOT Analysis (2024). Business Model Analyst. https://businessmodelanalyst.com/amazon-swot-analysis/#:~:text=Amazon%20Threat%201%201.%20Intense%20competition%20Amazon%20faces,Cybersecurity%20threats%20. . .%204%204.%20Economic%20recessions%20
Urrutia, D. (2023, October 23). What is Amazon | Definition, history and evolution. Arimetrics. https://www.arimetrics.com/en/digital-glossary/amazon
Walter. (2024). https://dictionary.cambridge.org/dictionary/english/vetting
Mathis, S. (2024, April 9). How do companies protect customer data? Customer Experience. https://www.techtarget.com/searchcustomerexperience/answer/How-do-companies-protect-customer-data
Segal, E. (2023, February 28). The role of AI in data security. Datafloq. https://datafloq.com/read/role-of-ai-data-security/#google_vignette
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