As you may know, I’ve been following Warren Buffett’s Annual Letter to Berkshire Hathaway shareholders since I started investing for the nuggets of wisdom Buffett offers freely. Apparently, Amazon’s CEO Jeff Bezos does the same thing with his annual letter to shareholders, which was released in the past week. The letter has been touted as a must read for business executives as it offers a view of Bezos’ management style and philosophy. Curious about what he had to say (and because I’m vested in Amazon now), I read the 6 page letter and here are some learning points.
Keeping ahead of Customer Demands through High Standards
This year’s letter shares Amazon’s learnings on maintaining high standards in its vast organisation. Bezos contends that inculcating high standards has 4 key elements:
They are teachable They are domain specific You must be able to recognise them You must coach a realistic