Facebook Strategy Essay

913 words - 4 pages

Facebook hasn't achieved its’ position as the number 1 social networking site by being conservative. They seem to have a very effective general business strategy. So what is a business strategy and why is it so important? We believe that a good working definition is, a business strategy specifies the way a firm competes in an industry. “Masterful strategies come from doing things differently from competitors where it counts—out-innovating them, being more efficient, being more imaginative, adapting faster—rather than running with the herd.” A “good” strategy is so important because it is a roadmap to a companies overall end vision. To our group the three most important aspects of Facebook’s ...view middle of the document...

We believe that this kind of recruitment and training is strategic in itself.
The next aspect of Facebook that is crucial to their strategy is their product. Well what is Facebook’s product—it is the ability for them to connect the world in a way that no other company has ever gotten close to doing. Facebook aims to shape the broader web by becoming a far-reaching social media tool that connects users to businesses, friends, family and more. Facebook has almost no interest in entering other markets aside from social media. As of December 2011 845 million people are using the Facebook product of social networking. In an interview with Charlie Rose, Sandberg, the COO of Facebook stated, "We only really want to do one thing: connect the world, all of these companies are doing lots of different things, but we are still doing one thing.” Being able to focus on one key goal or product so to say makes everything a lot simpler when it comes to coming up with a corporate strategy. Instead of trying to have a piece of every industry like Amazon, or Apple, Facebook is focusing their attention on one market. We believe that this kind of niche market has allowed for them to be the top player in the game.
The last aspect that really makes Facebook stand up against the rest of the social media sites out there are their partnerships. In general Facebook partners with tons of different marketers to get their ads to reach the Facebook population. “From the beginning, the people who founded Facebook wanted it to be free for everyone. Showing ads is how Facebook continues to support its growth and development. Facebook enables advertisers to reach more than 800 million people with ads that are relevant,...

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