A free enterprise system is a desirable scenario in which individuals and agencies have equal chances of business success, as organizations operate in an economy devoid of the government’s manipulation of supply and demand. Giachetti (2016) asserts that a free enterprise system allows people to make independent economic decisions in markets with freely functioning demand and supply forces. The success or failure of a business establishment depends on the owner’s ability to strategize and seize available and arising opportunities. A brief review of Jeff Bezos’ history in business, particularly his company’s earliest days, shows that the free enterprise system is a critical success factor for strategic entrepreneurs.
Jeff Bezos, the founder of one of the world’s most popular online retailing stores called Amazon, has consistently thrived on the free enterprise system. According to Rossman (2016), Bezos has been building his online-based empire since 1994 when he started the establishment with books as the main category of products. However, he steadily expanded the digital shelf space by including computers and CDs. The online business space attracted little regulatory attention because it was not popular yet. Rossman (2016) asserts that he could source and sell his products from any part of the world where publishers and buyers had the necessary resources, such as internet access and computers. As a result, the business gained early momentum because it did not encounter the manipulative effects of the government’s interferences in the supply and demand forces.
It is apparent that Jeff Bezos’ company, Amazon, has grown into a leading online retailing platform because it operated within a free enterprise system from the onset. As a virtual store, the company could source and sell books from across the globe. The freedom, which came with the uncontrolled nature of the online sphere, as it prevailed at the time, enabled Bezos to establish a strong foundation since the market forces were free of the government’s influence. In essence, the free enterprise system was critical for Bezos’ early success in entrepreneurship.
References
Giachetti, R. E. (2016). Design of enterprise systems: Theory, architecture, and methods. CRC Press.
Rossman, J. (2016). The Amazon way: 14 leadership principles behind the world’s most disruptive company. Clyde Hill Publishing.