Yes, any firm can beat Amazon Company. This is so because Amazon Company’s main strength is its ability to innovate new products and services using technology a strategy that many firms are currently investing in. For example, Google is heavily investing in the advancement in technology to innovate new products and services making it a formidable competitor to Amazon Company. Amazon’s major strength is its innovative strategy which has enabled it to stay relevant in the market. However, the ever-growing competition from growing technology companies is its main weakness of Amazon. Jet.com is a new company in the market making it less concerned to Amazon.
Given the importance of understanding the external environment, why do some firms fail to do so? Provide examples of firms that did not understand their external environment. What were the implications of the firm’s failure to understand that environment?
Most firms fail to balance the external environment and the internal environment because they concentrate much more on internal environmental factors that affect them directly. As a result of ignoring its external environment, Walmart Company ended up violating the clean water act and was ordered by the court to pay $81 million to cater for damages.
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Can any firm beat Amazon in the marketplace? If not, why not? If so, how can they best do so? How formidable a competitor is Google for Amazon? Please explain. Consider:
What are Amazon’s greatest strengths?
Does it have any weaknesses? Please explain.
Is Jet.com a potential concern for Amazon? Why or why not?
Given the importance of understanding the external environment:
Why do some public companies fail to do so? Please provide examples of firms that did not understand their external environment.
What were the implications of the firm’s failure to understand that environment?
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