Question

pick an entrepreneurial firm for example amazon, apple, google, provide details of its business model. Explain the young venture’s current situation, or its connection to a current entrepreneurship trend. MINIMUM 800 WORDS  

Answer 1

One of the entrepreneurial firm which operates in domain of E-Commerce is Amazon and which suits the current question which requires the details answer.

Amazon started without any resources by just taking orders from the customers and delivering it by collecting the items from nearby vendors. This way they had a pool of customer base as well as vendor base as well. Now to have better customer-vendor connection, they developed this e-commerce platform which allows the vendors to directly sell their items by listing them and offer very attractive discounts which generally customers do not get at any nearby shopping malls or stores.

So in this way, they are expanding their business as well as they are also encouraging small vendors to become the entrepreneur and take their business to the national & international level platform. Indirectly, this kind of platform is generating businessman, creating job at very ground level and also themselves earning good amount of profit from all the deals.

In current scenario, enterpreneur gets the ready platform to sell their products and expand the business without worrying much about reaching or identifying the customer base. Rather customers also get option to select similar items from various vendor and find best options. Hence it is a win-win situation for all and nobody is at loss. However, it has impacted the local business which directly interact with customer. Local vendors or stores are feeling the heat of discounts offered and are now compelled to pass on the discounts to the customer who purchases with them or face the decline in business.

So we can say that current business environment is about offering best offers, convinience, ease of doing business, better connectivity and promising experience.