Fortune has come up with its list of the World’s Most Admired companies in 2023 and Amazon continues to hold on to the second spot, something that it has done for seven years in a row. The ranking is done based on the individual company’s performance on at least nine parameters, which includes the quality of its management, its ability to innovate with its products or services, the difference it is able to make in the life of its employees and users, and so on. Here are a few such areas as mentioned in AboutAmazon where the company not only excelled but set standards for others to follow.
One of the most awaited new series, The Lord of the Rings: The Rings of Power made its debut on Prime Video much to the acclaim of viewers as well as critics. That apart, there is also Thursday Night Football that streamed exclusively via Prime Video.
Prime members had something to look forward to in the form of ‘Buy with Prime’. This comes across as a new perk for those who already are Prime members but will have the usual perks associated with the membership, such as fast and free shipping, easy returns, and so on extended to other online stores other than Amazon. This benefited merchants as well given how it increased shopping conversion by 25 percent on average.
The Thanksgiving holiday shopping weekend has been the biggest that Amazon has ever had, with millions of products sold via its site between Thanksgiving and Cyber Monday. Small businesses too had a lot to cheer about this year generating sales of more than a billion dollars in the US.
The Prime Day event this year has been among the biggest the company has ever had. Needless to say, the retailer’s selling partners which included small and medium-sized businesses too had a lot to benefit from the mega sales event. It’s a mammoth $1.7 billion that Prime members saved from this year’s Prime Day sales from the over 300 million products that they purchased via Amazon the world over. Buyers spent more than $3 billion buying small business items that were part of the ‘Support Small Businesses to Win Big sweepstakes during Prime Day 2022’.
Amazon and Amazon Web services (AWS) also rendered humanitarian services such as providing relief to the war affected in Ukraine. That included providing funds for the country to rebuild while setting things back for the students to get back to their education as well as research work. Amazon Disaster Relief teams were seen providing assistance where they were needed the most. That included those who suffered the direct onslaught of Hurricane Fiona in Puerto Rico as well as in Florida where Hurricane Ian made landfall just days later.
Apart from these, Amazon also provided increments to its employees in the US which entails an investment of around a billion dollars to be spent over the next year. Amazon is also helping employees pick up new skills while introducing other means to help make things easier for them. Take for instance the new robotic assistance system named Sparrow that ensures individual products are moved before they are packaged. Plus, Sparrow also helps in speeding things up by taking up repetitive tasks so that employees are able to focus on other issues.
All of the above are just some of the instances of the employees efforts that went on to generate a positive impact across the entire organization the world over. The company further stressed it has all been the result of excellent teamwork where all worked in unison to achieve the feat. In other words, it has been excellent teamwork all through that led the company to maintain its position in Fortune’s list of the World’s Most Admired Companies in 2023.
With a keen interest in tech, I make it a point to keep myself updated on the latest developments in the world of technology and gadgets. That includes smartphones or tablet devices but stretches to even AI and self-driven automobiles as well, the latter being my latest fad. Besides writing, I like watching videos, reading, listening to music, or experimenting with different recipes. Motion picture is another aspect that interests me a lot and maybe I’ll make a film sometime in the future.