Just 10 years ago, Nokia was the company that defined the mobile industry. It was on the cover of Forbes magazine, boasting about one billion customers. Today, it is non-existent.
During that same decade, Amazon’s value increased more than 3,100 percent. It has become a daily part of hundreds of millions of lives and is the dominant online retailer. How can two iconic companies have such wildly different outcomes? I believe the answer is simple.
Amazon embraced a core value of “customer obsession” and reinvented our purchasing experiences. It made significant investments in technology and other capabilities, and by doing so, transformed from a bookstore into an “everything” store.