The following assignment was created by our group [ ]
Our chosen organisation for the assignment is the online social networking site Facebook. As a group we feel as though this would give us a good opportunity to analyse the factors of business content in an in-depth way.
Business could be defined as “the transformation of inputs into outputs. This transformation process takes place against a background of external influences which affect the firm and its activities”. (Worthington and Britton 2000:3)
Facebook was co-founded in February 2004 by Mark Zuckerburg and roommate Dustin Moskovitz, both American entrepreneurs who attended Harvard University, Massachusetts. Zuckerburg now owns around a quarter of the organisation with Dustin still having a share of around 6-7% as of 2010.
Facebook’s mission statement simply reads “to give people the power to share and make the world more open and connected”. (www.facebook.com)
“The study of how human beings seek to use resources to satisfy the whole range of their needs, wants and desires”. (Wetherly and Otter 2008:3)
We need resources in order to satisfy our needs, wants and aspirations. The economy provides this in four categories which are land, labour, capital and enterprise.
The economy surrounding Facebook is undoubtedly large and still growing rapidly with investors continuingly looking to pump money into the company. The site attracts businesses from all over the world and of all sizes with its expansive advertising space which reaches out to millions of users daily. Recent figures published by Facebook themselves estimate a figure in the region of “five hundred million users with 50% of chose actively logging into the site daily”. (www.Facebook.com/stats). This therefore is an extremely attractive proposition for any business looking to advertise as most target audiences are reachable.
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