Abstract Science Construction’s business is in planning, developing and building road projects. The major of its clients are municipalities, city governments, and other public sector entities. While the bankruptcy rates for these clients is very low, when economic downturns happen, their ability to pay in a timely fashion also suffers. This leads to businesses such as Science Construction needing to take on additional debt and to find creative methods in order to stay afloat during times of recession. Methods such as selling accounts receivables at discounted rates and taking larger lines of credit through banks and other lending institutions are some of the ways organizations can remain viable when their cash inflows have turned into a trickle. Science Construction is asking the Turkish Courts to postpone their bankruptcy proceedings for a year while they attempt to restructure. Through this, suggestions such as forcing shareholders to pay their debt to the organization, gaining credi
In 1995, former investment banker Jeff Bezos had the idea of using the internet to sell books directly to customers online via a website. At the time, there were approximately three million titles in print, (Laudon. 2007) and any bookstore could only stock a fraction of them. Whereas, an online, or “virtual” bookstore could offer a much larger selection of titles.
Bezos believed consumers did not need to actually “touch, or feel” a book before buying it. Although there are many psychological triggers that can influence a consumer, Bezos felt that an online synopses, tables of contents, and reviews would be enough to help with selection and purchase.
In addition to the broad selection, Amazon was able to charge lower prices than traditional High Street bookstores, as it carried very little of its own inventory, relying instead on distributors, and did not have the expense of maintaining physical storefronts or a large retail sales staff.
In 1998, Amazon started selling CDs, videos, and DVDs, revising its business strategy “to become the best place to buy, find, and discover any product or service available online” - the online Wal-Mart.
By the late 1990's, only a short 4 years after launching; Amazon were leveraging technology to provide superior customer service through:
e-mail and telephone customer support
automated order confirmation
online tracking and shipping information
“1-Click” express shopping - the ability to pay for purchases with a single click of the mouse using credit card and personal information a customer had provided during a previous purchase
Amazon were blazing a trail; not just making internet history, but writing the rules of how to create and scale an online business.
In 2004 it hit $4 billion in online revenues, and by 2006 its sales guidance estimates $10 billion in revenue. (Laudon. 2007). It has in fact out-performed any other retailer, and grown to become one of the largest internet retailers on the planet.
The real significance of the success, is Amazon’s continuous innovation in business strategy and information systems. Not only in leading the online retail industry, but also "understanding data" to gain the trust of the consumer via dialogue and relationships.
Amazon has built its business by being brave and remaining true to its vision for providing goods and services to consumers, at competitive prices via an online channel. This approach has allowed Amazon to push the boundaries of technology; not just accepting that technology exists, but identifying how to utilise it in every step of the consumer journey and purchasing cycle, delivery and ownership.
Amazon can not sit back on its laurels. It has acknowledged it must support the consumers desire for more convenient ways to shop and continuously test new concepts.
When most traditional bricks-and-mortar businesses where scrambling for "online traction", their legacy systems held them back, so they merely dipped-their-toes into the online world, never really causing any concern or threat to Amazon.
However, with reverse about to take place, many traditional High Street retailers are watching with caution as Amazon is now disrupting the High Street, with "Amazon Go". Creating a seamless online to off-line shopping experience with cashless environments; to the point there are no check-out kiosks, or cash-desks. Consumers are identified in store by facial recognition, retina scans or finger prints that are linked to their unique online accounts; allowing consumers to place an order for an item and simply collect it from a High Street store without any human intervention.
Yes, Amazon can continue to be successful. But at what cost?
Not from a financial perspective, but from a cultural, health and lifestyle perspective.
Is Amazon creating a generation of consumers that are simply to lazy to walk to the High Street?
Are the delivery drivers, that have daily targets creating more pollution and damaging the environment?
...
Laudon, K. C., & Laudon, J. P. (2007). Information Systems, Organizations, and Strategy. Management Information Systems: Managing the Digital Firm 10th ed. Upper Saddle River, NJ: Prentice Hall.
...
Bezos believed consumers did not need to actually “touch, or feel” a book before buying it. Although there are many psychological triggers that can influence a consumer, Bezos felt that an online synopses, tables of contents, and reviews would be enough to help with selection and purchase.
In addition to the broad selection, Amazon was able to charge lower prices than traditional High Street bookstores, as it carried very little of its own inventory, relying instead on distributors, and did not have the expense of maintaining physical storefronts or a large retail sales staff.
In 1998, Amazon started selling CDs, videos, and DVDs, revising its business strategy “to become the best place to buy, find, and discover any product or service available online” - the online Wal-Mart.
By the late 1990's, only a short 4 years after launching; Amazon were leveraging technology to provide superior customer service through:
e-mail and telephone customer support
automated order confirmation
online tracking and shipping information
“1-Click” express shopping - the ability to pay for purchases with a single click of the mouse using credit card and personal information a customer had provided during a previous purchase
Amazon were blazing a trail; not just making internet history, but writing the rules of how to create and scale an online business.
In 2004 it hit $4 billion in online revenues, and by 2006 its sales guidance estimates $10 billion in revenue. (Laudon. 2007). It has in fact out-performed any other retailer, and grown to become one of the largest internet retailers on the planet.
The real significance of the success, is Amazon’s continuous innovation in business strategy and information systems. Not only in leading the online retail industry, but also "understanding data" to gain the trust of the consumer via dialogue and relationships.
Amazon has built its business by being brave and remaining true to its vision for providing goods and services to consumers, at competitive prices via an online channel. This approach has allowed Amazon to push the boundaries of technology; not just accepting that technology exists, but identifying how to utilise it in every step of the consumer journey and purchasing cycle, delivery and ownership.
Amazon can not sit back on its laurels. It has acknowledged it must support the consumers desire for more convenient ways to shop and continuously test new concepts.
When most traditional bricks-and-mortar businesses where scrambling for "online traction", their legacy systems held them back, so they merely dipped-their-toes into the online world, never really causing any concern or threat to Amazon.
However, with reverse about to take place, many traditional High Street retailers are watching with caution as Amazon is now disrupting the High Street, with "Amazon Go". Creating a seamless online to off-line shopping experience with cashless environments; to the point there are no check-out kiosks, or cash-desks. Consumers are identified in store by facial recognition, retina scans or finger prints that are linked to their unique online accounts; allowing consumers to place an order for an item and simply collect it from a High Street store without any human intervention.
Yes, Amazon can continue to be successful. But at what cost?
Not from a financial perspective, but from a cultural, health and lifestyle perspective.
Is Amazon creating a generation of consumers that are simply to lazy to walk to the High Street?
Are the delivery drivers, that have daily targets creating more pollution and damaging the environment?
...
Laudon, K. C., & Laudon, J. P. (2007). Information Systems, Organizations, and Strategy. Management Information Systems: Managing the Digital Firm 10th ed. Upper Saddle River, NJ: Prentice Hall.
...
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