Business World

      Jeff Bezos Be Willing to Invent | Jeff Bezos Ever notice how many products and services Amazon offers?  You can trace that back to Bezos's philosophy of rapid experimentation and invention. In this sense, Bezos is the anti-Steve Jobs . Apple offers only a few products, but Amazon offers dozens. At the bottom of the Amazon homepage, you can see the wide range of different products and services they offer. Invention is really important to Bezos and his team at Amazon. He mentions the words " pioneers " and " explorers " a lot to describe his team at Amazon. He looks for people that like to invent and are always looking for ways to make products better.  Bezos is even an inventor himself. Whether it's his 10,000 year clock (which is quite an engineering challenge), his Blue Origin space company , his patented airbag system for phones, the solar cooker he invented as a kid or his endeavours with Amazon, Bezos loves to invent. He values it (along with reso

       Measure the Experiments | Jeff Bezos  As I said, experiment is a part of Amazon's culture. So is measuring the experiments.  When someone comes up with an idea for an experiment, Bezos  commonly says, " We can measure that ."  This is revealing because it shows that one of his first thoughts is whether they can measure an experiment.  When someone comes to you with an idea, the first question to ask yourself is "can we measure this?" Even if you can measure it, and the results tell you not to do it, that doesn't always mean that you shouldn't. Bezos says, "Sometimes we measure things and see that in the short term they actually hurt sales, and we do it anyway."  While they may hurt the short term, they can benefit in the long term. If it's good for customers , it's a good indicator that you should make that experimental practice permanent. 

      Offer Free Shipping on Orders over $25 | Jeff Bezos The cost of shipping has held many people back from ordering online. (So has not receiving a product the same day they ordered it.)  Amazon currently offers FREE shipping on orders over $25. They call the program Super Saver Shipping. You can do the math on this and see that a company that operates on low margins like Amazon can't do it profitably. They would need to increase the $25 threshold. The math tells you not to do it , but customers tell you to do it. What side do you think Bezos took ?  The side of the customer . Surprising for an engineering graduate like Bezos, but not surprising for the customer obsessed CEO that he is. So Bezos ran the $25 Super Saver Shipping experiment and ultimately found that, while it's not good for the short-term, it pays off in the long term because you'll have increased customer loyalty with a higher frequency of order.

        Test whether to Advertise on Television  In the early days of Amazon , the executives wanted to know if it would be worth the cost to place advertisements on television. So they looked for two markets with a good blend of the customer demographics they target, and they found Portland and Minneapolis to be the best. The run  a test for 16 months , which is much longer than most companies would experiment.  But Jeff Bezos said that Amazon was " unbelievably fixated on it " and that it was a "long, expensive test, but we were really determined to understand this for our company once and for all." While the ads did give Amazon a slight bump in sales, Jeff Bezos determined that it wasn't enough to justify the cost . So while this experiment was lengthy, it proved helpful for Amazon's strategy. Amazon TV commercial

Never Stop Experimenting :-  Bezos - " If you double the number of experiments you do per year you're going to double your inventiveness."  If you ask most CEOs, they will tell you that experimentation is imperative for their business. It's how new innovations are born and how they stay competitive in the market. Automotive Companies have concept cars; food companies experiment with new food and flavours; retail companies experiment with placement of products and store atmosphere; drug companies are built on experiments; tech companies have 'labs' like ' Google Labs ' and many high performing companies like Google allow their employees to experiment.Even Sports teams experiment with new plays and/or players.  Experimentation is everywhere and is always happening. At Amazon , experimentation and willingness to invent has always been a part of culture. It's not secondary or something that "has to be done because everyone else does it.&quo

Two Pizza Rules | Jeff Bezos Stick with Two Pizzas :- Bezos seems to believe in small, autonomous groups . (Maybe the roots for this go back to his days as a start-up CEO). He believes in a " two pizza rule " for teams, meaning that the groups should be small enough to feed with only two pizzas. This generally works out to about 5 to 7 people in a team. At Amazon, the two-pizza teams have created the Gold Box feature that we still see today. When team grow larger , they have a tendency to become less efficient . This inefficiency reduces the output of the team and leads to waste. So keep team small and let them test . 

    Jeff Bezos Jeff Bezos | Lessons from him | No. - 1  Be Stubborn and Flexible :- According to Jeff Bezos , good entrepreneurs must be stubborn and flexible .  When referring to Amazon, Bezos says, " We are stubborn on vision. We are flexible on details. " Sticking to the vision is the first part, and being flexible about the tactics is the second part. Bezos adds, "If you are not stubborn, you will give up on experiments too soon. And if you are not flexible, you will pound your head against the wall and you won't see a different solution to a problem you are trying to solve ." There's a challenge in being stubborn and flexible. Bezos warns : "The thing about investing is you have to be both stubborn and flexible, more or less simultaneously. The hard part is figuring out when to be which!" One of the things I've heard about entrepreneurs is that they are inherently stubborn individuals. They're the "natural leaders" who lik

      Amazon History| Part 3 Jeff Bezos founded Amazon in July 1994. He chose Seattle because of technical talents as Microsoft is located there.  In May 1997, the organisation went public . The company began selling music and videos in 1998, at which time it began operations internationally by acquiring online sellers of books in United Kingdom and Germany . The following year, organisation also sold video games, consumer electronics, home improvement items, software, games and toys in addition to other items. In 2002, the corporation started Amazon Web Services (AWS) , which provides data on Web site popularity, Internet traffic patterns and other Statistics for marketers and developers.  In 2012, Amazon brought Kiya Systems to automate it's inventory management business. 

       Amazon 2 :  Amazon was founded by Jeff Bezos in Bellevue, Washington, on July 5 1994. The company started as an online marketplace for books but expanded to sell electronics, software, video games, apparel, furniture, food, toys and jewellery.  In 2015, Amazon surpassed Walmart as the most valuable retailer in the United States by market capitalisation. In 2017, Amazon acquired Whole Food Market for US $13.4 billion, which substantially increased its footprint as a physical retailer. In 2018, Bezos announced that it's 2 day delivery service, Amazon Prime, has surpassed 100 million subscribers worldwide. Amazon is the second largest private employer in the United States and one of the world's most valuable company.

      About Amazon : Amazon.com, Inc is an American Multinational Technology Company based in Seattle, Washington . It focuses on e-commerce , cloud computing, digital streaming and artificial intelligence. It is considered one of the Big 4 companies in the US information technology industry, alongwith Google, Apple and Facebook. Amazon has been referred to as " one of the most influential economic and cultural forces in the world " as well as the world's most valuable brand. 

     Angel Broking : Angel Broking is an Indian Stock Broking firm established in 1987 . The company is a member of the Bombay Stock Exchange (BSE) , National Stock Exchange (NSE) , National Commodity & Derivatives Exchange Limited (NCDEX) and Multicommodity Exchange of India Limited (MCX) . It is a depository participant with Central Depository Services Limited (CDSL) . The company has 8500+ sub-brokers and franchisee outlets in more than 900 cities in India. Their services include online stock broking, depository services, commodity trading and investment advisory services.  Wealth Management solutions such as personal loans and insurance are also delivered by this company.  In 2006, the company started Portfolio Management Services (PMS) , IPOs business and Mutual Funds Distribution (MFD) arm. 

Highlights :  Reliance raises ₹ 7,350 crore from GIC, TPC In less than 3 days Reliance Industries has entered into 5 deals to sell stake in RRVL. Through two seperate deals, Reliance Industries will sell 1.63% stake in Reliance Retail Venture Limited (RRVL). R eliance Industries Limited on Friday announced to raise ₹ 7,350 crore from two investors - Singapore's Sovereign Wealth Fund GIC and Global alternative asset firm TPG , by selling a stake in group's retail arm. Through two seperate deals, Reliance Industries will sell 1.63% stake in Reliance Retail Venture Limited (RRVL) . GIC will invest ₹5,512.5 crore to buy 1.22% stake and TPG will invest ₹ 1,837.5 crore to buy 0.41% stake in RRVL. In less than 3 days Reliance Industries has entered into 5 deals to sell stake in RRVL. Isha Ambani , Director of Reliance Retail, said, “ We are delighted to welcome TPG to the Reliance Retail family in our journey of revolutionizing the Indian Retail landscape and improving the economi

   Highlights :  Kotak Bank registers ₹170 crore fraud case against Cox and Kings Subsequently transferred to EOW A group of creditors of Cox and Kings had submitted complaints against the company for defrauding them K otak Mahindra Bank has registered a complaint against the now insolvent Cox and Kings Ltd, alleging fraud of over ₹170 crore .  A group of creditors of Cox and Kings had submitted complaints to the Economic Offences Wings EOW of the Mumbai police against the company for defrauding them.  Cox and Kings promoter Ajay Ajit Peter Kerkar has lodged counter FIR against the bank and key personnel of the travel company's former management last month, accusing them a loss of over ₹5,500 crore to CKL and it's affiliates.  Cox and Kings is currently undergoing corporate insolvency resolution.  

    Highlights : Microsoft launches cheapest Surface Laptop Model starting at $ 549 The Surface Go Laptop is smaller and lighter  It has a fingerprint scanner to log in M icrosoft Corporation unveiled the cheapest ever model of its Surface Laptop , aiming to take a larger share of the lucrative notebook computer market by targeting students and budget shoppers. The Surface Go Laptop is smaller and lighter than the company's other notebooks and has a fingerprint scanner to log in. The device comes in three metallic finishes - ice blue, platinum and a pinkish gold colour that Microsoft calls Sandstone , and has 13 hours of Battery life and an Inter Corp. processor.

      Punjab National Bank Highlights : Punjab National Bank reports ₹ 1,203.26 crore fraud by Sintex Industries Limited The fraud reporting pertains to the large corporate branch at Ahmedabad zonal office Bank has already made provisions amounting to ₹ 215.21 crore P ublic Sector Punjab National Bank (PNB) on Wednesday declared its ₹ 1,203.26 crore exposure to Sintex Industries Limited as fraud. Pursuant to the applicable provisions of SEBI's Listing Obligations and Disclosure Requirements (LODR) and the bank policy, "we inform reporting of borrowal fraud of ₹1,203.26 crore in NPA Account of Sintex Industries Limited". The fraud reporting pertains to the large corporate branch at Ahmedabad zonal office. Bank has already made provisions amounting to ₹ 215.21 crore .

     Tata Motors Highlights : Tata Motors launches 55 tonnes prime mover Signa 5525.S The model offers the power of enhanced performance and lower cost of ownership Tata Motors is the country's first manufacturer to get the ARAI certification T ata Motors on Tuesday launched its 55 tonne prime mover Signa 5525.S , which is powered by a 6.7 litre engine. Equipped with three distinct drive modes ( light, medium and heavy ) Signa 5525.S is India's highest gross combination weight prime mover in the 4×2 segment. The model offers the power of enhanced performance and lower cost of ownership, thereby increasing revenue and reducing operating costs. Tata Motors is the country's first manufacturer to get the Automotive Research Association of India (ARAI) certification of 55 tonne for a 4×2 prime mover. 

     Adani Group : Adani Group, is an Indian Multinational Conglomerate Company, headquartered in Ahmedabad Gujarat .  It was founded by Gautam Adani in 1988 as a commodity trading business, with the flagship company Adani Enterprises Limited, previously Adani Exports Limited .  The Group's diverse businesses includes energy, resources, logistics, agribusiness, real estate, financial services, defence and aerospace.  The Group has annual revenue of over US $13 billion with operations at 70 locations in 50 countries.