SBM4202 Unit Project Assignment Sample
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Introduction
In this research study, the nature of business will be discussed. This research will also explain that what kind of governance structure and policies a business has. In a further study, it will also describe the business procedure which uses the business to achieve its targets.
Under this research, the role of corporate officers also will discuss. This research will diagnose the organizational risk and also analysis that how to mitigate risk. Moreover, this research will focus on the possible improvements and impacts of changes due to internal or external factors.
Introduction to Amazon
Amazon is an online retailer that was started in July 1995 by Mr. Jeff Bezos. It is an American company that is based on electronic commerce and cloud computing. It has declared a huge giant as a large internet retailer across the world in order to its measured revenue and capitalization.
It also has declared as a 2nd largest retailer in terms of total sales (Jackson et al., 2015). In its initial days, Amazon started its business with an online bookstore and later on it diversified its products range.
Nature of Business
Amazon is an online retailer which well-known across the world. It started in 1995 by Mr. Jeff Bezos. It was started as an online book company and afterword it has been developed into a different kind of consumer goods provider.
As per the evolving growth strategy, Amazon booked an alarming success within the ten years and it entered the market of various countries, supporting the accomplishment centers in Europe, US, and Asia by the objective of organizing the process of product distribution from supplier to consumer (Kowalski, 2016). In the present time, Amazon provides a vast diversified product portfolio.
It provides every kind of products like beauty products, clothing, jewelry, gourmet food, pet supplies, books, CDs, DVDs, sporting goods, computer, furniture, toys, bedding, garden goods and more or less everything. Amazon offers its products through online selling.
Further, Amazon also sales its own products from branded suppliers in accomplishment centers. It also permits the stores to use Amazon portal for advertising a new product as well as the second-hand product. Amazon allows the small suppliers to connect with it and sell their products in an online sale.
Amazon shows its quality as versatile, .targeted, highly innovative (Wilson and Bayón, 2017). It can be said at first glance that Amazon focuses on many aspects of expanding its business globally but Amazon’s center of attraction point is customer orientation. At present, Amazon serves customers around in 50 states in the USA as well as 160 countries around the globe.
In the current era, the competition trend in electronic businesses has taken vital place and Amazon plays very well in this competitive environment (Valladares and Boelens, 2017). It has a high brand image which stood at the 43rd position among the reputed brands globally in 2009. Amazon’s believing is that the changes come due to innovation in this world that’s why it focuses its innovative products so that customer can be attracted.
At the same time, Amazon tries to improve its merchandise through which the creative capability will be a boost of its product creators. Amazon has a concern about its consumers that’s why it makes easy to avail online shopping for its customers with a friendly environment which shows the way of healthier and expert retailing contrasted to conservative shopping.
Amazon offers comparatively low-value products with broad selection personalized service, high-quality content etc. It also provides some feature to its customers like high-level consumer services, availability of products and these services leads the healthy revenue (Schwegler, 2017). As per the market study, Amazon develops values through the techniques of customer relationship and chases its competitive frame.
Governance structure, process, and policies
Corporate governance is identified in different forms and it might be adopted by the organization as per the special requirement under discussion. In few cases, corporate governance model has been changed due to various reasons and the rise of online business. Amazon is one of the most successful E-Business from when the online business came in knowledge (Hausknost et al., 2017). Amazon has a unique way of corporate governance as just Amazon has created a special and different business model towards it E-Business.
Organizational governance is described organizational goals, mission, responsibilities as well as its decision making. It can also be described that governance is a procedure in which it confirms the use of IT with effectiveness and efficiency with respect to able an organization to attain its goal. Amazon has a clear governance structure for achieving its goal and targets.
Amazon has a team of experts which helps to manage its structure and policies in order to attain its objectives and compete for the market. Amazon’s effective corporate structure describes both things like Amazon’s framework for attaining its goal and its decision making (Humphreys, 2016). Amazon’s framework includes organization’s policies, guidelines, and principles which leads IT decision making with reliability.
The decision making of Amazon includes individuals or entities that are accountable and responsible for IT decision making. Additionally, there are various persons likewise board of director, management, and shareholders, in Amazon who has responsibilities to manage its corporate governance.
At the same time, Amazon’s strategic framework which comprises set of actions intended for enhancing the strength of the organization and long-term well-being in order to competitors globally. Strategic framework of Amazon helps it to provide innovative and entrepreneurial approaching into the ways the organization can build up (Loft et al., 2017). Strategic framework of Amazon contains three layers of the external environment, groups and stakeholders and internal strategy and planning.
External environment defines those factors which impact the organization from outside. The pressure group and stakeholders are defined as a demand of the organization and persons who have interest in the organization financially. At the last but not least, internal business strategy and planning in which internal factors are analyzed.
Moreover, Amazon has transparency in various its policies or its procedure. Amazon’s policies are genuine as well as favorable for customers (Davies and Perini, 2016). It has different policies for the seller, customers, and buyers. Amazon’s policy for seller defines that the seller has to sign an agreement which includes all acceptable policies, regulations, and laws. These agreements bind the seller and make sure the seller understands his responsibilities.
Agreements prohibit the activities and doings of the seller and also restrict seller’s listing. Amazon’s return policy is compiled by the customer. As per this policy, Amazon provides to its customers a facility of return policy within the 30days of receipt of product (Gelcich et al., 2017). If a customer purchases a product from Amazon and he finds any issue with the product or any manufacturing, then he has the option to return the product and get back his money within 30 days of receipt of the product.
The corporate officers and their roles
In order to corporate officers, there are various persons who are responsible for operations and management within the organization. Those persons are appointed by the board of directors in their meetings and appointed persons have the responsibilities about the financial well-being of the organization.
They also have the responsibility to organize the vision or mission of the organization and evaluation while placing the policies and analyzing the activities of employees within the organizations (Neill, 2015). Amazon is a big online retail company which is known worldwide. Its corporate officers have a various and vital role as per responsibilities.
They have to manage whole the organization in terms of its growth. As a huge organization, Amazon has various responsibilities which perform by various corporate officers and employees. Various roles are described below:
President or Chief Executive Officer (CEO)
The CEO or president within the organization is responsible for the various activities and operation that are performed on daily basis. CEO is also responsible as a signing authority in the corporation and he signs various certificates, legal documents, and huge contracts as per requirements (Stout and Blair, 2017). The chief executive officer performed under the board of directors. The CEO is the person who is answerable only in front of the board of directors and the corporate owner.
Vice President
Vice president may not have specific duties within the corporation. But in case of absence of the president, vice president is a responsible person and should be capable to perform president’s duties (Grant, 2016). Apart from this, the vice president executes special duties or commitments and has various other duties which are determined by the board of directors in its regulation.
Board Secretary
The corporate board of secretary has all the responsibilities in order to create and maintain corporate documents and records. It is the responsibility of the board of secretary to keep and maintain the records of the policies and procedure that are approved by the board (McCahery et al., 2016). The board of secretary also has the responsibility to manage and maintain a calendar of corporate events which includes the date of budget approval and the date of annual meetings and he is also responsible for keeping all kind of records safe and secure.
Board Treasurer
The corporate board treasurer is a corporate officer who is responsible to perform key responsibilities related to financial well-being within the organization (Eisenberg, 2017). Rather this, he does not have responsibilities related to day to day operations. The board of treasurer is responsible to create and manage the annual budget of the corporation for each and every financial year and also responsible to present the annual budget to the board of director for seeking approval.
Hence, it can be explained that the corporate officers are played a vital role in the corporate. The corporate officers are in the organization who meets the corporate operations on day to day basis and eventually responsible for the failure or success of their corporate.
Reflection of regulatory requirements in governance structures and policies
Amazon’s governance structure and policies are effective and appropriate for its customers. Its employees always perform their duties ethically, lawfully and in the best interests of Amazon. Governance is one of the ways by which the power is used to manage and create economic and social sources of a country with the intention of development.
Governance structure and Policies always need regulations to achieve its goals and perform in a good and ethical manner. The Rules and regulations force organizations and business to perform well and ethically (Thomas et al., 2017). In the present era, regulations are compulsory in order to make efficient governance structure and policies which can help the organization to perform as per its process or policies so that organization’s aim can be achieved.
Amazon’s governance structure and policies are applied with the help of regulations that provide transparency, clear procedure, fair assessment and easy applicability to Amazon. These things ensure the credibility and accountability of Amazon.
At the same time, the board of directors of Amazon set a procedure, values, and policies for long-term to achieve the goals of the business and these policies and values are created through the governance structure. Governance structure and policies do not only reflect the aim of the organization but also the relationship between board members and employees as well as the relationship between organization and customers (Fatorelli et al., 2015).
Furthermore, Amazon’s rules and regulations force it to make clear policies which create transparency and credibility between Amazon and its customers. It is essential in Amazon to its employees to pursue valid rules and regulations always. The policies and structure of governance in Amazon are efficient but the effective implementation of policies and structure is also essential so the organizational regulations make it possible (Bresnahan and Greenstein, 2014).
It is essential for every organization to make transparent and adequate legal framework as per government rules. So, the consumer’s right can be kept safe and corporate scandal, malpractices and fraud can be prevented.
Amazon has various policies and procedure in its business and it also has an effective governance structure to make its practices favorable and adequate. For reviewing organizational activities, Amazon has appointed a committee who reviews and assess the employee’s activities and practices and also provide the appropriate recommendations (van der Hoff et al., 2015).
Amazon’s different policies are return policies, selling policies, restricted products policy, intellectual property policy, and its service business solution agreement. These policies are prepared to maintain company’s code of conducts and its ethics. Amazon is famous for its quick customer services that make Amazon reliable and accountable.
Addresses the risk and mitigates it
In the present time, every organization has the fear of risk which can harm the organization very badly. Organizations always try to address risk before its effectivity. Same things are done in Amazon towards risk. Amazon deals as an online retailer and there are various kinds of risk which it has to face in its daily operations. Different risks are transaction risk, system hacking risk, trade policies risk, regulations risk as well as (Flanagin et al., 2014).
These risks can damage the Amazon’s financial position, its brand image and its internal structure. So, that is compulsory for Amazon to address the risk and mitigate it before affectivity. Amazon has a team for risk management which uses different techniques for addressing the risk and then mitigates it as soon as possible. If any issue or conflict arises, the Amazon’s conflict resolution team solves the issue within time (Keyes, 2016).
Amazon’s risk management team addresses the risk before affectivity and mitigates it. Its risk management team uses a procedure under which it applies some steps. Under these steps are included identify the risk, analyze the risk, evaluate the risk, treat the risk and monitor it.
Further, analyzing and addressing the risk is a big task in every organization. After analyzing the risk successfully, it is the management’s responsibility to find out the ways and techniques to mitigate the risk as needed. Amazon’s policies to mitigate risk are effective and appropriate as its risk analysis policies. Amazon treats the risk as per the risk handling conditions.
There are four options like accept the risk, avoid the risk, control the risk and transfer the risk, in which the risk is handled. If Amazon finds that the risk is not much harm and can handle easily, then the risk is accepted (Monczka et al., 2015). If a company finds as per the project requirement to eliminate, the risk is avoided.
If the risk is controllable, then the risk management team makes affords to control it. Finally, if the risk is higher, then the company transfers the risk to another person willing to accept it. Each of these options is needed developing a map which is applied and examined the effectiveness of the risk so that one option can be chosen among four options.
Generally, Amazon tries to avoid the risk so it has no further need to make planning and arrangement to control or handle the risk. Most of the time, Amazon uses the cloud strategy with the expectation of rising the revenue but this emerging technology has involved risk which makes critical to continuity of organizational operations (Al-Rousan, 2015). For managing this emerging technology risk, Amazon’s incredible risk management team understands the risk type so that they can handle as per its category.
Possible improvements, impacts of internal or external factors
Amazon is a continuously growing company which has a need for continuous improvements and changes as per changing environment and requirements of the customers. From last few years, Amazon has been registering its growth by competing for a big brand in the UK market. But it does not mean that it has no further requirement for improvements.
If Amazon wants to sustain in the market for a long time, it needs continuous improvements which will help it to dwarf its competitors and producing huge revenue (Chowdhury et al., 2014). It should maintain its retail pricing transparency. At present, Amazon is competing on convincing and services not only on price.
But it also has a need to make transparency among its products prices so that customers can understand that how the prices of Amazon products are good. Its other need is its nice behavior towards its employees. Amazon should improve its policies related to its employees so that they can feel attached and safe within the organization.
At the same time, it has a need to make its customer services more effective and efficient for providing the customers a great purchasing experience. By adequate customer services, Amazon can improve purchasing experience of customers. This will create credibility between the Amazon and its customers. Customers will feel more valuable by seeing Amazon’s affords in order to improve its online services (Sokolov et al., 2016).
These things will help to sustain customers with the Amazon and will try that the customers do not go anywhere. Amazon should improve its seller policies which need few changes. Under Amazon’s seller policies, it should include some additional terms and conditions so that sellers cannot dominant on the customers. Amazon should also try not to allow every person to excess on its portal without further verification (Lin et al., 2017). It should include advanced security option so any fake person cannot hack other person’s id or passwords.
Additionally, Amazon has some external or internal factors which impact the Amazon from inside as well as outside. It is necessary for Amazon to analyze those factors for its future growth and find appropriate solutions for those factors. Internal factors are included the employee’s strength, operational factors, strategic risk, innovation-related factors, financial factor and so on (Steward et al., 2018).
Amazon’s external factors are political factors, economic factors, technological factors, and social factors etc. Both types of factors are impacted Amazon very deeply and it has to manage impact like bad impacts as well as good impacts.
Conclusion
As per this essay study, it can be defined that there are many things in an organization which should be focused and analyzed so that the organization can perform smoothly. In this study, Amazon is selected by the researcher for his research topic and it is stated that Amazon needs to improve its policies to sustain in the market and maintain its growth. This can be also concluded that Amazon should analyze both the factors like external factors as well as internal factors by which it can be able to handle competitive edge.
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