Jeff Bezos and Amazon have always been guided by four principles: customer obsession rather than competitor focus, passion for invention, commitment to operational excellence, and long-term thinking. Bezos explains more about long term thinking in this video interview with UniCommonKnowledge.
“What we’re really focused on is thinking long term, putting the customer at the centre of our universe, and inventing. Those are the three big ideas to think long term, because a lot of invention doesn’t work. If you’re going to invent, it means you’re going to experiment, so you have to think long term,” Bezos says. “These three ideas, customer centricity, long term thinking, and a passion for invention, those go together. That’s how we do it, and by the way, we have a lot of fun doing it that way.”
Whole Foods Market
Following his own advice and principles is what led Amazon to enter into a definitive merger agreement with Whole Foods Market, Inc. under which Amazon will acquire Whole Foods Market for $42 per share in an all-cash transaction valued at approximately $13.7 billion.
“Millions of people love Whole Foods Market because they offer the best natural and organic foods, and they make it fun to eat healthy,” says Bezos who is Amazon’s founder and CEO. “Whole Foods Market has been satisfying, delighting and nourishing customers for nearly four decades – they’re doing an amazing job and we want that to continue.”
“This partnership presents an opportunity to maximize value for Whole Foods Market’s shareholders, while at the same time extending our mission and bringing the highest quality, experience, convenience and innovation to our customers,” said John Mackey, Whole Foods Market co-founder and CEO.
Whole Foods Market will continue to operate stores under the Whole Foods Market brand and source from trusted vendors and partners around the world. John Mackey will remain as CEO of Whole Foods Market and Whole Foods Market’s headquarters will stay in Austin, Texas.
Amazon’s existing products, services and routes to market include: 1-Click shopping, personalised recommendations, Prime, Fulfillment by Amazon, AWS, Kindle Direct Publishing, Kindle, Fire tablets, Fire TV, Amazon Echo, and Alexa.