Tuesday, July 19th, 2016
The second Leadership Principle of the Amazon Way is:
Leaders are owners. They think long term and don’t sacrifice long-term value for short-term results. They act on behalf of the entire company, beyond just their own team. They never say “that’s not my job.”
Ownership at Amazon means you have the ability and the obligation to pursue making something better, fixing something regardless of organizational structure.
By pursuing favorable terms and increasingly using their leverage in the market, Amazon is balancing long-term benefits to customers and shareholders with immediate customer impact.
Many of Amazon’s expansions look like money-losing distractions at first. That sometimes sends the company’s stock price skidding and evokes analysts’ scorn. Bezos shrugs. If the new initiatives make strategic sense to him, a five-to-seven-year financial payoff is okay.
Summing-up: Be willing to be misunderstood for long periods of time. Bezos tends to take a long-term view on innovations that don’t pay off right away.