Jeff Bezos Virtuous Cycle
It was something like this.
Jeff bezos virtuous cycle. Selection and lower prices drive customer experience. Founder jeff bezos discusses amazon business model mission duration. According to bezos the cycle begins with a fantastic customer experience which drives a large volume of traffic. This idea came about in the very early days of amazon.
Amazons entire approach to success centers on the concept of a virtuous cycle this mindset has driven the companys strategy since the very beginning. The 1 principle jeff bezos and amazon follow to fuel incredible growth strategy jeff bezos built amazon using this simple idea one that applies to every business especially a startup. Jeff bezos ceo and founder of amazon has once famously drawn up amazons virtuous cycle. Also known as the 2016 letter to shareholders jeff bezos sketched out a philosophy that he calls day 1 and day 2.
Amazons virtuous cycle involves sacrificing short term profits to enhance the customer experience and maximize long term gain. Selling products at lower prices was amazons key objective from day 1. Jeff bezos started to see where different components of his company could form synergies that would create compound effects the virtuous cycle in action and competitive advantages.