The Amazon Management System by Ram Charan

Author:Ram Charan
Language: eng
Format: epub
Tags: Amazon, Ram Charan, business, strategy, growth, business model, AI, data, analytics
Publisher: Ideapress Publishing
Published: 2019-03-21T16:00:00+00:00

Daring to fail, in a big way

Failure is a necessary and integral part of invention. There is no shortcut here. To pursue invention, tolerance of failure is a must. Or more precisely, the possibility of failure should be encouraged and embraced.

Amazon clearly understands this point and actually believes in failing early and iterating until they get it right. Such a belief gives Amazons a distinctive competitive edge, and frees Amazon to “pioneer into the unexplored spaces.”6 As Bezos explained:

“One area where I think we are especially distinctive is failure. I believe we are the best place in the world to fail (we have plenty of practice!), and failure and invention are inseparable twins.7 To invent you have to experiment, and if you know in advance that it’s going to work, it’s not an experiment.”8

During the past 25 years of innovation and invention, Amazon has encountered numerous failures. Here are the 18 significant ones:9

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