FACEBOOK

Facebook

[Name of the Institute]

Facebook

Introduction

A market is an institution, procedure or social relation of infra structure that helps in the economic development and well being of the society in social, economical and moral terms. In generic terms, it usually denotes the trade of goods and services for the exchange of money.

In current society, there are lots of various markets, dealing in variety of products. There can be markets for physical and non-physical things like social markets, where people trade in relations. The modern technology has helped to develop these markets very efficiently.

This Paper is basically designed to analyze the strategic management process of social networking website Face-book. The first part will analyze the internal and external analysis of the business environment of the firm. The main focus of this study of the main competitors and their competitive position; further the report will also analyze the market details in terms of value, share and position of the website with respect to its competition. The research will also focus on the current trends in the market as well as the future trends in the market.

Introduction to Face-book

Facebook is the social Networking Website launches in 2004 February. It is operated privately by Facebook Inc. and owned by young graduates (Mark Zuckerberg with his college roommates and fellow computer science students Eduardo Saverin, Dustin Moskovitz and Chris Hughes) of Howard University.

This website has more then 800 million users all around the world and the basic motive of this website is to create a vast social network of friends all around the world. At initial level it was started as an aim to get familiar with the people at Howard University, but gradually it became famous from university to university all around the world (Facebook Inc. 2011).

Part - 1 (Internal Analysis - Competitive strategies)

The Facebook has shown tremendous growth over the last 7 years. In 2009 it was ranked as the best social networking site of the world with around $5,257 million of revenue, 800 milion users and 3000 employees all over the world. Its competitive edge is based on,

Innovation & Creativity

Managing changes

Team work achievements

The Incongruity / Adaptability

Innovation and Creativity

The innovation and creativity in the product presentation is very clear in Facebook business. You can find new product every day with new features and applications. The best example for this is the change of Facebook logo on an everyday basis with respect to the events in that country. They keep on introducing new games everyday so that people do not get diverted away from the scenarios. Looking from a client perspective Facebook has a very flexible, dynamic, and equitably unstructured merchandise development process (Facebook Inc. 2011).

Change Management

The team at Facebook is very flexible and change oriented. Mark Zuckerberg once said in an interview that it's a common psychology of human that they tend to get bore of one thing very quickly, and they require seeing a new thing daily. Same is the case with employee, if you keep them bounded to one thing ...