The World's Best Book Summaries
What were Amazon’s earliest innovations? Which innovations failed and which went on to be huge successes? 2002 marked the year that Amazon would start focusing on innovation. They launched a web service, revamped their website, created a search engine, rolled out the predecessor to Prime, and released the first Kindle all within two years. Here’s how Amazon’s innovations began.
Is micromanagement always a bad thing? Can overseeing every little detail of employees’ workflow ever be good? Micromanagement is a common practice in modern workplaces. Most of the time, micromanagement is toxic in that it hinders employee performance. However, there are occasions when micromanagement is the way to go. Here’s why managers think they must oversee every detail and when that can actually be helpful.
What is The Effective Executive about? What can you do to increase the effectiveness of your organization? In his book The Effective Executive, Peter Drucker argues that effectiveness derives from a set of five practices anyone can learn rather than from unique talents or charisma. Drucker’s five effectiveness practices are as follows: 1) manage your time, 2) focus, 3) make a unique contribution, 4) maximize your strengths, and 5) make sound decisions. This article examines how Drucker’s ideas on effectiveness hold up today and how others have built on them.
Is Amazon a monopoly? Why do manufacturers and publishers hate working with Amazon? Why does the public tolerate Amazon even though it has questionable practices? Amazon devalues manufacturer’s products, undermines the book publishing industry, and acquires as many of its competitors as it can. And yet, the public still embraces Amazon because it’s making an offer we collectively can’t refuse. Keep reading to learn about Amazon’s monopoly-like behaviors.
Why was Amazon successful? How did other companies influence Amazon’s growth in the early 2000s? How did “super saver shipping” affect Amazon’s profitability? Although 1999-2001 was a turbulent time in Amazon’s history, the years following held nothing but promise for Amazon’s future. Amazon rolled out its super saver shipping program which boosted their stock prices, integrated more automation, and lowered shipping costs. Continue reading to learn why Amazon was so successful in the early 2000s.
What distinguishes 10X companies from the average? What are some of the key characteristics of businesses that manage to stay afloat through a crisis? Dispelling an entrenched myth, the research suggests that ultra-successful 10X companies are not more creative, more ambitious, or more visionary than the average. What sets them apart are these three behaviors: 1) fanatic discipline, 2) empirical creativity, and 3) productive paranoia. Keep reading to learn about the three core characteristics of 10X companies.
What does employee performance management entail in your organization? What are the characteristics of a good performance management routine? Employee performance management consists of meetings and conversations that help you to focus on the progress and performance of your employees. An effective performance management routine must be simple, regular, future-focused, and tailored to each individual employee. Here are some things to think about as you design a performance management routine for your organization.
What events from Amazon’s company history took place between 1999 and 2001? Why did Jeff Bezos decide to become CEO of his own company? What was the “milliravi” incident? The early 2000s started off rough for Amazon. Many people were skeptical that a middleman company like Amazon could survive, Amazon’s new CEO was a failure, and the milliravi error caused Amazon’s stock to plummet. However, during this time Bezos still somehow managed to keep growing Amazon. Continue on to learn more about Amazon’s company history.
What is the 20 Mile March in business? What are some of its key characteristics? To 20 Mile March in business means to hit specified targets year after year with a long-term view in mind. A good 20 Mile March has these five characteristics: 1) it specifies both lower and upper bounds; 2) it’s consistent; 3) it’s customized; 4) it’s achievable, and 5) it falls within a reasonable time frame. This article spotlights the key characteristics of a good 20 Mile March and how to put it to work for your business.
How did Amazon grow so quickly after it’s conception in 1994? What happened in Amazon’s early days? From 1996 to 1999, Amazon grew rapidly. Amazon went from strictly selling books to selling DVDs, music, and toys. But they weren’t the only large, online store—eBay entered the scene. Continue on to learn about Amazon’s growth from a bookstore to an everything store.