![]() ![]() According to Bezos, “Operational excellence implies two things. In his 1998 letter, Bezos defined operational excellence as a core company value. ![]() A leader has to inspire a team to strive to accomplish something different and unique. “You have to take pro-active steps to create a culture where people don’t have that fear to fail,” says Carr.Ī pioneering mentality doesn’t just happen within an organization. But not all organizations cultivate a culture where it’s okay to try and fail. Eagerness to invent.Īccording to Carr, taking risks means accepting that ideas or projects will fail. Many companies will give up on an idea if it doesn’t produce returns in a quarter or a year, but “Amazon will stick with an initiative for five, six, seven years-all the while keeping the investment manageable, constantly learning and improving-until it gains momentum and acceptance.” 3. “Having that long time horizon is critical if you want to build something big and enduring.” Carr says. Long-term thinkingīezos has consistently articulated that one of Amazon’s core values is to think longer-term than most companies.Ĭarr says that Amazon Prime Video, which has more than 100 million viewers, was the result of a decade of research, development, and content acquisition. They remind teams to start with the customer’s needs and ‘work backwards.’īezos reminds Amazonians to pay attention to competitors, but to obsess over customers. But a great company is built by a leader who keeps the customer front and center. They hear from their peers and partners, who all have their own needs and goals. Obsessing over customers is difficult for many organizations because leaders, managers, and employees rarely hear from customers directly. It’s easy to say but hard to do,” says Carr. “A lot of companies talk about being customer-centric.
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