BEGIN TITLE THREE INCHES FROM TOP OF PAPER 424/WordDocs/Finalcourse_… · Web viewWhile traveling west bound on Interstate 90, the desire of creating a new framework by a thirty

THE GROWING PAINS OF AN INTERNET ICON

THE HIGHS AND LOWS OF AMAZON.COM

by

Wayne E. Pauli

A Paper Presented in Partial Fulfillment

Of the Requirements of

OD 501 Survey of Research in Organizational and Group Dynamics

December 2002

Address: 805 North Olive Avenue

City, State, Zip: Madison, SD 57042Phone: 605-636-9323E-mail: [email protected]: Dr. John LathamMentor: TBD

Abstract

The change of the Internet from being a content provider to a

retailing bastion has had a huge impact on how business as usual

is now transacted. Only 1% of all commerce is now completed

online, but the numbers are growing rapidly. Spurring this

expansion is Amazon.com, and its CEO and founder, Jeff Bezos. The

customer-centric focus that Bezos instilled as a driving force

continues today. Accumulated operating losses of over $2.8

Billion dollars has not deterred this company from striving to

reach its vision of working hard, having fun, and making history.

Table of Contents

Table of Contents ii

List of Tables (if tables used) iii

List of Figures (if figures used) iv

Introduction 1

Methodology 2

Work Hard, Have Fun, Make History 3

History is Made 6

Famous or Infamous 9

Reactions by Investors 13

Enter the P for Profit 15

The Changing Effect on Jeff Bezos 18

Better Days Ahead 20

Conclusion 21

References 23

ii

List of Tables

Table 1: Total Customers at Amazon.com 5

Table 2: Distribution Centers 7

Table 3: Total Annual Sales Amazon.com 8

Table 4: Amazon.com Key Strategic Partnerships 12

Table 5: Stock price Comparisons 14

Table 6 Amazon.com Annual Net Losses 15

iii

List of Figures

Figure 1: The 8 I’s that Make a We 11

Figure 2 The E-Business Value Matrix 17

iv

The Growing Pains of an Internet Icon – The Highs and Lows of

Amazon.com

Arthur Koestler, Hungarian born novelist, journalist, and

critic is quoted in Gareth Morgan’s book, “Creative Organization

Theory”, as follows:

Of all forms of mental activity, the most difficult to

induce even in the minds of the young, who may be presumed to

have not lost their flexibility, is the art of handling the same

bundle of data as before, but placing them in a new system of

relations with one another by giving them a different framework.”

(Morgan, 1989)

While traveling west bound on Interstate 90, the desire of

creating a new framework by a thirty year old professional named

Jeff Bezos resulted in Amazon.com. It was 1994, the Internet had

been growing by 2300% per year, and Bezos was working as a Senior

Vice President for Wall Street based D.E. Shaw and Company. His

vision on how to take advantage of the exploding growth of the

Internet was online retailing.(Staff,2000)

Although unclear at that time, the Internet was thought to

be the device that would lead to significant changes in the way

books were not only purchased, but read, written, and promoted.

(Goldsborough, 1999).

The Highs and Lows of Amazon.com

This paper will delve in to the company that some people

call the Internet; whether the Internet is what it is because of

Amazon, or in spite of Amazon, it is the biggest boon to literacy

since the invention of the printing press. (Goldsborough, 1999).

Methodology

The methodology employed is qualitative in nature, using

secondary sources of information. Resources for this paper were

secured through the following areas:

ABI/INFORM a database of business information for more than

30 years. ABI/INFORM contains content from thousands of journals

that assist a researcher in tracking business conditions, trends,

management techniques, corporate strategies, and industry-

specific topics worldwide. The database was accessed through the

Proquest portal located on the Karl E. Mundt Library homepage

(www.departments.dsu.edu/library). Karl E. Mundt Library is on

the campus of Dakota State University, Madison, SD. In addition,

resource searches were limited to periodicals with a 1999 to

current data range, and from peer reviewed publications only.

Significant research was also conducted through websites

utilizing the MSN search engine. The purposes for website

searching was basically two fold; one to get biographical

information on Jeff Bezos, and secondly to get the Security and

2


Exchange Commission (SEC) reports as filed by Amazon.com on a

quarterly basis since the company went public in 1997.

A plethora of books were also used to glean data from, with

the majority of them coming from coursework through Capella

University, and through voluntary personal readings.

According to the authors of “The Craft of Research”, “If a

writer wants his readers to change their minds about something

important to them, you cannot simply claim, you have to give

reasons and evidence for believing.” (Booth, Colomb, & Williams,

1995)

The reasons and evidence about to be presented are to change

the mindset of doubters concerning the positive impact that

Amazon.com has had.

Work Hard, Have Fun, Make History

In 1899, Theodore Roosevelt is quoted as follows: “Far

better to dare things, to win glorious triumphs, even though

checkered by failure, than to take rank with those poor spirits

who neither enjoy much nor suffer much, because they live in the

gray twilight that knows no victory, nor defeat.” (Collins &

Porras, 1997)

The above quotation is also the preface for a chapter in

Collins and Porras’ book entitled, “Big Hairy Audacious Goals.”

3


These are goals that are challenging, often risky, and normally

equated with a visionary company. (Collins & Porras, 1997)

Jeff Bezos began Amazon.com prior to the writings of Collins

and Porras. That does not mean that he does not believe in the

teaching of “Built to Last”, but rather that while working on

Wall Street, and watching the Internet grow at an annualized rate

of 2300% in 1994, Bezos claimed his “Big Hairy Audacious Goal”,

that being Amazon. Bezos’ concept was that the Internet was

about people, his first customers were his friends, and his first

product was books. (Louie & Rayport, 2001)

To further testify to the fact that the Internet is about

people, Robert Thames writing for Strategic Finance comments

that, the 1980’s competitive pressures were price, but today, the

power thanks to e-business is with the individual. (Thames, 2000)

A “Big Hairy Audacious Goal” engages people, it reaches out

and grabs them, it is also energizing, and people “get it” right

away. Continuing on with descriptions, they are bold, looking

more audacious to outsiders than to insiders. (Collins & Porras,

1997)

The ongoing verbalization of the “Big Hairy Audacious Goal”

for Amazon has become its credo, that being “Work Hard, Have Fun,

Make History”. (Louie & Rayport, 2001) In the truest sense of the

words describing “Big Hairy Audacious Goals”, Amazon has captured

the very essence with its credo.

4


Let us look at Table 1 to ascertain if the people “Got it”

with Amazon:

Table 1 Total Customers at Amazon.com

YEAR END NUMBER OF CUSTOMERS

1996 180,000

1997 1,500,000

1998 6,200,000

1999 16,900,000

2000 24,700,000

2001 32,000,000

(Louie & Rayport,2001)

From the standpoint of creating and fulfilling his “Big

Hairy Audacious Goal”, Jeff Bezos without a doubt has been

successful. A quote from turn of the Century (20th Century)

business man and Time Magazine’s man of the Year for 1929 Owen D.

Young says a great deal about Amazon.com, “It takes vision and

courage to create – it takes faith and courage to prove.” Jeff

Bezos proved that he has the vision and courage to create, and

only time will tell about the faith and courage to prove.

History is Made

5


During the late Fall of 1999, Time magazine named Jeff Bezos

their Person of the Year for 1999. (Thames, 2000) Amazon had

arrived in the public mainstream. Over 16,000,000 people had

Amazon.com accounts, which had accounted for in excess of $1.6

Billion dollars in sales. (Louie & Rayport, 2001)

With the click of a mouse, customers on their own PCs were

purchasing the goods they desired from the Amazon website.

Customers, sales, and visitations were increasing daily at

Amazon.com. Amazon through the empowerment of their customer

became the first company to move book retailing from the shopping

malls and other bricks and mortar situations to the online

environment. (Mellahi & Johnson, 2000)

First to market is not to be downplayed, but according to

Mellahi and Johnson, this is not the only area where Amazon has

made e-commerce history, to wit: Amazon is a highly recognized

brand name, and companies will literally spend millions upon

millions of dollars to acquire brand recognition. Amazon is

customer centric, which means that the experience the customer

has while online at Amazon.com is of utmost importance. The

database of Amazon is of such sophistication that it forecasting

models are much more accurate than others in the industry with

its rate of return being under one fourth of one percent while

industry average is thirty percent. (Mellahi & Johnson, 2000)

6


Along with the internal history making, Amazon also made

history of the external kind when in 1998 plans were outlined for

seven new distribution centers strategically placed throughout

the United States. These centers covered almost 3 million square

feet of inventory storage capacity. The New York Times called

this the fastest expansion of distribution capacity in peacetime

history. (Louie & Rayport, 2001)

This plant expansion brought their total square footage

worldwide to 5 million square feet.

Table 2 Distribution Centers

Location Square Footage

Seattle Washington 93,000

Campbellsville, Kentucky 770,000

Coffeyville, Kansas 750,000

Fernley, Nevada 332,650

Grand Forks, North Dakota 130,000

McDonough, Georgia 800,000

New Castle, Delaware 202,000

Total U.S. Distribution 2,984,650

(Louie & Rayport, 2001)

Finally, the attention is turned to sales, Amazon continued

its record breaking run with tremendous increases in sales on an

annual basis.

7


Table 3 Total Annual Sales Amazon.com

YEAR TOTAL SALES

1995 $ 511,000.00

1996 $ 15,746,000.00

1997 $ 147,787,000.00

1998 $ 609,819,000.00

1999 $1,639,839,000.00

2000 $2,761,983,000.00

2001 $3,122,433,000.00

(Amazon.com, Annual Report 1999 - 2001)

Keeping pace with distribution center expansion and sales

growth, the size of the Amazon.com work force has grown

dramatically as well. From approximately 250 employees when the

company went public, two years later Amazon boasted over 7000

employees. (Powers & Phair, 2000 ) By the end of the year 2001

the employment base stood at 7,600 after adjustments for seasonal

layoffs. (Kanter, 2001)

Jeff Bezos has taken the vision and courage and created

Amazon.com, he has made history. From Man of the Year in 1999 to

huge growth in the terms of customers, sales, and employees,

Amazon.com has created the aura of success, of being visionary,

but is it what they will be known for in the future?

8


Famous or Infamous

In his critically acclaimed work, “Origin of Species”, in

1859, Charles Darwin stated: “To my imagination it is far more

satisfactory to look at well-adapted species not as specially

endowed or created instincts, but as small consequences of one

general law leading to the advancement of all organic beings.”

(Collins & Porras, 1997)

With this concept, along with previously discussed issues of

building different frameworks of data delivery and that the

Internet is about people, Amazon is famous with its customer

centric objectivity.

In terms of an industry that is beset with competition from

traditional book jobbers (Rogers, 2001), and a marketplace albeit

an online one, that is intensely and savagely competitive,

Amazon, according to Fortune magazine continues to demonstrate

that no company has done more to show how the Internet overturns

conventional assumptions. (Mellahi & Johnson, 2000)

From Darwin’s standpoint, he would term Amazon and the

leadership supplied by Jeff Bezos to be satisfactory.

practices the concept of “zero time”, which means that within

minutes of an order being placed, it is confirmed by email. As

soon as the product has been shipped another email is created and

9


sent. This is done in this fashion because Amazon feels that the

customer want to know. (Shulman, 2000)

Stealing a few words from Darwin, this is a small

consequence of one general law leading to the advancement of all

organic beings. In technology terms, this is an basic process by

Amazon that leads to a more customer centric position by the

company.

In just a few years, as is evidenced by the sales growth

demonstrated by table 3 on page 8, Amazon due to its success

created a network of partners. These partnerships are deemed to

be essential, but are also risky business. (Kanter, 2001)

Author Rosabeth Moss Kanter continues her topic on partnering

when she states that successful partnering requires a shift of

perspective from the individual company to the community.

Expansion was happening so fast, is it possible that Amazon.com

got caught in the moment? Is it possible that being first, and

wanting to get big fast, and having “Big Hairy Audacious Goals”

got in the way of sound business decisions on the part of Amazon?

(Kanter, 2001)

Kanter applies her “8 I’s that make a We” process to Amazon,

and found that there were some shortfalls that did cause problems

for Amazon, to some degree, making them the infamous Amazon.com.

Figure 1 The 8 I’s that Make a We

10


Through these eight I’s, it has been determined that Amazon

was short sighted in some dealings, they were using the “golden

traffic rule” as defined by Lycos EVP Ron Sege, that being, He

who has the traffic sets the rules. (Kanter, 2001)

A great deal of sales growth has been attributed to the

partnership building that Amazon.com completed by taking equity

interests in several other companies. With these purchases,

Amazon has been able to provide a much wider array of products

for their customer base. (Louie & Rayport, 2001)

With these purchases, came a great deal more inherent risk

by Amazon. Many companies were attracted to the high volume of

visits, and the increased number of customers that Amazon.com

exhibited. Not all of these companies exhibited all of the I’s

that Rosabeth Kanter wrote about. Table 4 on page 12 lists the

partnerships entered into by Amazon.com from 1997 – 1999. Where

possible, what ultimately happened to the company has been listed

as well. The dot bomb of late 1999 and early 2000 had a huge

impact on the partnerships of Amazon.com.

Table 4 Amazon.com Key Strategic Partnerships

Individual Excellence Importance InvestmentInterdependence Information IntegrationInstitutionalization Integrity

11


Company Description Relationship

Ashford.com Luxury and premium products

Audible Internet-delivered audio

Della.com Gift registry Relationship severed

Drugstore.com Pharmacy and online OTC

Gear.com Sporting goods

Greenlight.com Automobiles Carsdirect.com

HomeGrocer.com Grocery shopping Out of Business

Kozmo.com Delivery service Relationship severed

Living.com Home products & services Out of Business

NextCard.com Credit cards Part of Amazon

Pets.com Pet products Out of Business

Sothebys Auction house

(Louie & Rayport, 2001)

There have been additional partnerships formed since 1999,

but it is important to point out that based on data from the 2000

Annual Report and 10-K Statement that Amazon.com recorded a $305

million dollar equity loss in portions of other companies owned.

(Amazon.com, 2000 Annual Report and 10-K Statement)

It is pointed out that through equity ownerships such as 28%

ownership in Drugstore.com, and 17% ownership in Ashford.com,

Amaozon.com in an effect is operating as a bricks and mortar

mall, and that the ownership represents a form of rent being paid

12


to the mall owner. (Hendershott, Hendershott, & Hendershott,

2001) While the virtual mall seems a good idea, it is also

constricting to competition, and is counter productive to

profitability and stockholder values due to the fact that

Amazon.com invested heavily in these partners, and lost heavily.

(Regan, 2001)

Reactions by Investors

Quoting from the 1999 annual report, Jeff Bezos stated the

following: “At a recent event at the Stanford University campus,

a young woman came to the microphone and asked me a great

question: "I have 100 shares of Amazon.com. What do I own?"

(Amazon.com, 1999 Annual Report)

Not long after that, while Internet stocks were in a free

fall, U.S. Federal Reserve Chairman, Alan Greenspan stated that

the Internet had changed the economy in ways that even he did not

fully understand. (Lewis, 2001)

Investors not knowing what they owned, and a Federal Reserve

Chairman not understanding what the Internet was doing to the

economy, no wonder that Wall street reacted as if the sky were

falling for most dotcoms. (Bernard, 2000)

Many financial strategists and observers say that this was a

much needed reality check. Amazon.com’s stock lost more than 80%

of its value over the last six month of 1999 and the first 6

13


months of 2000. Jeff Bezos says better days are ahead, as he

points to the many companies that did not survive the economic

downturn. These companies included Amazon.com partners Pets.com

and Living.com. (Regan, 2001)

There is a great deal more than stockholder uncertainty and

a lack of understanding that has driven stock prices lower for

Amazon.com. Table 5 demonstrates the volatility of the stock

over the years 1999 and 2000

Table 5 Stock price Comparisons High Low ------- ------Year ended December 31, 1999 First Quarter.................................. $ 99.56 $42.13 Second Quarter................................. 110.63 44.88 Third Quarter.................................. 85.00 41.00 Fourth Quarter................................. 113.00 61.00Year ended December 31, 2000 First Quarter.................................. $ 91.50 $58.44 Second Quarter................................. 68.63 32.47 Third Quarter.................................. 49.63 27.88 Fourth Quarter................................. 40.88 14.88(Amazon.com, Schedule 10-K 2000)

The above table demonstrates the negative reaction that

investors took regarding Amazon.com. From a high of $113.00 per

share in the early part of the fourth quarter of 1999 to a low of

less than $15.00 per share during the fourth quarter of 2000.

The stock price did sink lower during the first quarter of 2001,

hitting a low of under $7.00 per share.

Enter the P for Profit

14


The 1999 expansion of distribution centers was completed to

aid in the goal toward profitability, specifically, Bezos and his

management team deemed that expanding and controlling the

distribution function internally would through efficiencies,

higher margins, demand management and order stratification have a

positive impact on the bottom line. (Tapscott, & Ticoll, & Lowy,

2000) Table 6 is offered as proof of the impact of this and other

management decisions acted upon to increase the bottom line.

Table 6 Amazon.com Annual Net Losses

YEAR Profit or(Loss) % of Total Sales

1995 ($ 303,000) 59.3%

1996 ($ 6,246,000) 39.7%

1997 ($ 31,020,000) 20.9%

1998 ($ 124,546,000) 20.4%

1999 ($ 719,968,000) 43.9%

2000 ($1,411,273,000) 51.1%

2001 ($ 567,277,000) 18.2%

(Amazon.com, Annual Report 2001)

During the time that Amazon.com has been a publicly held

company with stock traded on the NASDAQ, the total operating

loses have amounted to more than $2.8 Billion Dollars. Total

sales during this same time frame has amounted in excess of $8

Billion Dollars. The average loss as a percentage of sales is

15


34.47%. This is inflated due to two decisions that Amazon.com

executives have made, and these decisions have already been

discussed. One being the expansion of distribution centers, and

the other being the partnership building that has taken place,

quite evidently without Kanter’s 8 I’s that make a We. (Kanter,

2001)

Coupling these two decisions with a stock market that

seemingly soured on all technology stock, Amazon.com had

tremendous losses and tremendous losses as a percent of sales in

both 1999 and 2000.

True to his leadership traits, Jeff Bezos sent a letter to

shareholders telling them that better days are ahead for

Amazon.com and for the investor. The long range outlook is for

e-commerce to continue growing, from the $15 Billion dollars of

retail projected in 2001, to the $60 Billion projected in 2002.

Overall, Bezos views the Internet grasping 15% of all retail

sales. (Regan, 2001)

Many experts see the crash that began in late fall of 1999,

and continued into the second quarter of 2000 as a needed

shakeout of dotcom companies. It was the death knell for many

dotcom companies, but not for dotcom in general. (Rubin, 2000)

While this may seem to be an anomaly, Amir Hartman, writing

with John Sifonis and John Kador refer to this as the E-Business

Matrix. (Hartman, & Sifonis, & Kador, 2000) Discussed in the

16


book, “Net Ready”, the matrix takes on the shape of figure 2

below.

Figure 2 The E-Business Value Matrix

(Hartman, & Sifonis, & Kador, 2000)

The contention is this; each E-Business has two dimensions,

business criticality and practice innovation (newness). Each E-

Business will pass through each quadrant as it develops, in a

counter clockwise rotation beginning in the New Fundamentals

quadrant where both dimensions are low. In other words, business

criticality and practice innovation are not under a great deal of

pressure when the quadrant is in the lower right-hand corner.

When the company reaches the operational excellence quadrant, it

is a mature company, having very high rewards for success, and

New Fundamentals

Breakthrough Strategies

RawExperimentation

Operational Excellence

17

High

High

Low

LowPRACTICE INNOVATION

BusinessCriticality


likewise very high risks of failure. (Hartman, & Sifonis, &

Kador, 2000)

Amazon.com, along with many other key players in Internet

and e-commerce have done extremely well moving from the first to

the third quadrant, but the move from being a breakthrough

strategy to operational excellence is very difficult.

Jeff Bezos talks of improvements in disk space, of

processing power, and of bandwidth when he talks about the future

growth of Amazon.com. He does not talk about the P word.(Regan,

2001)

The Changing Effect on Jeff Bezos

Over two thousand years ago, Roman author Seneca the elder

wrote that If we toil awhile, endure awhile, believe always and

never turn back then the conditions for conquest are always easy.

Just as it has been easy for Amazon.com and Jeff Bezos to

traverse through the first three quadrants of the E-Business

matrix. It is the fourth quadrant, the one that signals

transformation for the company, where supply and demand

improvements are emphasized, where the level of risk starts to

move toward medium from the earlier acceptable high levels, and

where a company must move management toward a sustainable

competitive advantage. (Hartman, & Sifonis, & Kador, 2000)

18


Malcolm Wheatley of CIO Magazine had the opportunity to

interview Jeff Bezos in late summer of 2000. Stock prices had

bottomed out, and the dust was starting to clear from the dot

bomb. Bezos stated that he and his executives remain focused on

winning customers one at a time. (Wheatley, 2000)

Bezos remains unruffled over the NASDAQ tech slide of stock

prices, stating he does not think that customers are worried, and

he looks at the tight venture capital market with regard to new

dotcom companies and sees a silver lining, “If our stock has to

suffer so that some companies can’t get funding, that’s probably

good for us.” (Wheatley, 2000)

In mid 2001, many observers were calling for Jeff Bezos to

resign as CEO, that the only way to revive the company’s stock

price was for his departure. (Tice, 2001) Of course, this did

not happen, Amazon.com stock has recovered somewhat, with pricing

in the $22.00 to $25.00 per share range. The operating loss from

2000 to 2001 was cut almost 60%, while sales increased by over

13%. The sales increase was not nearly as large as past years,

but was deemed by management to be a very positive trend

nonetheless. (Amazon.com, Annual Report 2001)

Upon researching the difference between leadership and

management, it is certainly possible that Jeff Bezos may not have

the all of the management skills necessary to lead Amazon.com al

the way back. “He is a big picture guy.” Not a great deal

19


has changed for Jeff Bezos, he still enjoys his work, enjoys the

challenges, puts in his 16 hour days, and is still considered a

brilliant person. (Tice, 2001)

Jerald Greenberg states that the primary function of a

leader is to create the essential purpose or mission of the

organization and the strategy for attaining it. By contrast,

the job of management is to implement the vision. (Greenberg,

2002)

This compares quite similarly to the comments of author

Robert Spector when he stated that, “it is very hard for a

founder and big-picture guy to then become CEO and take the

company to the next level.” (Tice, 2001)

Better Days Ahead

For the first time since Amazon.com went public, The end of

the quarter, December 31, 2001 brought profitability to the

company. (Amazon.com, Annual Statement, 2001)

Couple this with the fact that the nine months of operation

during calendar year 2002 has resulted in an operating loss of

$151.7 Million dollars compared to the same time frame of 2001

being $572.4 Million dollars, which is an operating loss decrease

of more than 73%. (Amazon.com, Schedule 10-Q September 30, 2002)

When questioned in mid July of 2002 by Patricia O’Connell of

Businessweek Online, Jeff Bezos feels that innovation is still

20


alive and well, with all of the scandals, and bankruptcies, and

the money lost in the stock market, that there is a great deal to

feel good about. (O’Connell, 2002)

Amazon.com has crept back slowly during the past twelve

months, there is reason for cautious optimism within the ranks of

Amazon. The 4th quarter of 2002 is deemed to be extremely

important in acting as a barometer as to whether Amazon.com has

turned the corner toward profitability. (O’Connell, 2002)

Conclusion

Albert Einstein cherished thought provoking situations. Of

them he states, “Imagination is more important than knowledge.”

Continuing with this diatribe, “To raise new questions, new

possibilities, to regard old problems from a new angle, requires

creative imagination and marks real advance in science.”

(Morgan, 1997)

Bezos’ new question that he raised in 1994 was how to

utilize the environment called the Internet by incorporating

retail selling to online users, his new possibility according to

Einstein.

In 1993 when Gareth Morgan first began penning his book,

“Imaginization”, he wrote about the fact that there was no

shortage of advice for people and their organizations relative to

becoming successful. This was prior to Jeff Bezos and

21


Amazon.com. His words have no less importance or empowerment to

Amazon.com and to Jeff Bezos, regardless as to when the following

messages were first uttered.

Become flexible

Adapt

Self-organize

Thrive in Chaos

Develop a learning organization

Become more creative

Be market driven

Foster entrepreneurship

Empower your staff

Decentralize

(Morgan, 1997)

The ten characteristics listed above speak volumes about the

growing pains of an Internet icon, as it continues to search for

the highs of pre 1999 with a new focus on the same vision that

Jeff Bezos had when he created it in 1995: Work Hard, Have Fun,

Make History.

References

Collins, J., & Porras, J., (1997). Built To Last. New York: HarperCollins Publishers ISBN:0887307396

Greenberg, J., (2002). Managing behavior in organizations. New Jersey: Pearson Education Inc ISBN:0130328243

22


Morgan, G., (1989). Creative Organization Theory. California: SAGE Publications ISBN: 0803934440

Morgan, G., (1997). Images of Organizations. California: SAGE Publications ISBN: 0761906312

Morgan, G., (1997). Imagin•i•zation. California: Berrett-Koehler Publishers & SAGE Publications ISBN:0761911269

Booth, W., & Colomb, G., & Williams, J., (1995). The Craft of Research. Chicago: The University of Chicago Press ISBN: 0226065847

Lewis, M., (2001). Next The Future Just Happened. New York. W.W. Norton & Company ISBN: 0393020371

Tapscott, D., & Ticoll, D., & Lowy, A., (2000). Digital Capital: Harnessing the Power of Business Webs. Massachusetts. Harvard Business School Press ISBN: 1578511933

Kanter, R., (2001). Evolve! Succeeding in the Digital Culture of Tomorrow. Massachusetts. Harvard Business School Press ISBN:1578514398

Hartman, A., & Sifonis, J., & Kador, J., (2000). Net Ready. New York. McGraw Hill ISBN: 0071352422

Goldsborough, R., (1999 March / April). How the Internet changes reading and writing. Link – Up, 16,23-24

Powers, M., & Phair, M., (2000 March). Bechtel and Turner Help Put the Bricks Behind the Clicks. ENR, 244, 11-15

Rogers, M., (2001 September). Amazon.com, B&N debut bulk buying for libraries. Library Journal, 126, 29

Bernard, S., (2000 December). Who moved the Internet cheese?. Pharmaceutical Executive, Forecast 2001, 8-11

Rubin, D., (2000 September). Dot-Com Euphoria Settles Down as New Market Realities Settle In. ENR, 245, 85-86

Shulman, R., (2000 June). What B2B can learn from Amazon. Supermarket Business, 55, 41-46

Thames, R., (2000 March). Pursue e-business or die. Strategic Finance, 81, 28-32

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Mellahi, K., & Johnson, M., (2000). Does it pay to be a first mover in e.commerce? The case of Amazon.com. Management Decision, 38, 445 -454

Hendershott, P., & Hendershott, R., & Hendershott, T. (2001 Spring). The future of virtual malls. Real Estate Finance, 18, 25-32

O’Connell P., (2002 July). Chewing the Sashimi with Jeff Bezos. [Electronic Version] businessweek.com Retrieved December 3, 2002

Regan, K., (2001 April). Bezos to Shareholders: Better Days Ahead. [electronic Version] ecommercetimes.com Retrieved December 3, 2002

Staff, (2000 February). Jeff Bezos [Electronic Version] justpeople.com Retrieved December 13.2002

Tice C., (2001 May). Time for Bezos to step aside?. [Electronic Version] seattle.bizjournals.com Retrieved December 13, 2002

Wheatley, M., (2000 August). Jeff Bezos takes Everything Personally [Electronic Version] cio.com Retrieved December 13, 2002

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BEGIN TITLE THREE INCHES FROM TOP OF PAPER 424/WordDocs/Finalcourse_… · Web viewWhile traveling west bound on Interstate 90, the desire of creating a new framework by a thirty