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College Park Scholars Essay

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College Park Scholars Essay
World's Most Innovative Companies Innovation has become priority in large companies around the world because innovation is what will keep companies ahead of its competitors in order to sustain itself in the economy. One of the most innovative companies in the world currently is Jeff Bezos' Amazon.com, Inc. Amazon is an American multinational electronic commerce company that is the world's largest online retailer. One of its largest competitors in the market right now is eBay. Amazon's innovative technologies and ideas has propelled the company drastically in the last five to ten years. Just five years ago, Amazon's stock prices were at around 30 dollars a share and recently has gone up over 200 dollars a share. Whereas competitor eBay was around 40 dollars a share five years ago and is still around 40 dollars a share currently. In terms of selling products Amazon has made itself extremely convenient, reliable, and very user-friendly. Although both eBay and Amazon sell all sorts of products that retailers and individuals wish to sell, Amazon has taken the next step by developing its own products. Amazon first started with the creation of the Kindle to compete with book companies. The Kindle allowed users to read thousands upon thousands of books that are easily purchased within one small convenient hand-held device. Amazon then moved on and developed a cloud-based network which is the next big innovation in technology. Amazon's cloud computation servers allow people to have extremely fast web-browsing and shopping capabilities off of Amazon's electronic store. Music, books, and movies can be directly purchased through Amazon's network and became a huge part of profit in the company. The development of the Kindle fire has optimized the use of the cloud network and is at the top of competition in the tablet technology market. Amazon's Kindle fire was able to succeed even though a lot of tablet technology was already out because of it's extremely low cost
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