Business strategy for Facebook
Table of Contents
External analysis (Industry analysis) and internal analysis5
Strengths of company5
Weaknesses of Company6
Opportunities of company7
Threats of Company7
Criteria for evaluating Strategic alternatives9
Three strategic alternatives and evaluation10
Expand the global user community10
Build engaging mobile practices.11
Advance ad products for college age students and advertiser11
Recommended alternative and execution12
Execution of alternative strategy12
Porter's 5 forces analysis of Facebook13
Bargaining power of consumers13
Bargaining power of suppliers14
Threat of new entrance14
Threat of new substitute products14
Competitive rivalry with in industry14
How Facebook achieve success14
The current paper is about the research on business strategy on face book. In 2004 FACE BOOK was launched by Mark Zuckerberg. In this paper .In this SWOT has been used to do the external analysis (Industry analysis) and internal analysis for Facebook. Strategic alternatives for company is also discussed in the paper which includes expand the global user community, Build engaging mobile practices and advance ad products for users and advertiser. There are three alternatives strategy for Facebook is given but writer of the paper has recommended that It is need to maintain relationship with colleges to keep control on the social networking market for college-age students its recommended that Facebook should collaborate with Amazon for the execution of this strategy of capturing and retaining college-age students. Criteria for evaluating the strategies have also given in the paper. At the end of paper its is explained that how Facebook get success .Initially the membership was limited restricted to students of Harvard College, and in the first month half of undergraduate student get registered on the service. Eduardo Saverin (business aspects), Andrew McCollum (graphic artist), Dustin Moskovitz (programmer), and Chris Hughes soon joined Zuckerberg to help in the promotion of website.
In 2004 FACE BOOK was launched by Mark Zuckerberg. He extended his college project nd since 2004; Facebook has managed to gain 750 million users and still growing. Its fame is backed by the Web2.0 boom
External analysis (Industry analysis) and internal analysis
In this SWOT has been used to do the external analysis (Industry analysis) and internal analysis of Facebook which is given below: Strengths of company
The strengths of Facebook are given below:
* Facebook is one of the leading social network website in which millions of people use it and connect each other in every minute. * In top five hundred networking websites Facebook has been given second rank. * The main advantage of the face book is that it can be translated in seventy different languages so that people from different can use Facebook easily * The main strength of the Facebook is that it has diversified revenues * Facebook also has the ability of video conferencing.
* Facebook has the advantage of strong
* it has the most efficient management system because of its efficient management * Facebook has the heights market share among the networking sites. * Facebook become a platform for numerous people all over the world where they may connect and share their lives with other * Facebook has numerous ways of entertainments and application. * Facebook has the features of instant messaging and wall post * Facebook has very financial position.
* Facebook has quick adaptability in terms of technology. * Facebook is highly regarded networking site.
* It has loyal customers with usual online growth.
Weaknesses of Company
Weaknesses of company are given below
* Facebook has irrelevant applications.