STRATEGIC MANAGEMENT

Strategic Management

Introduction1

Discussion1

Strategic capability of Facebook1

Growth of face book2

Facebook capabilities2

Facebook innovation3

Competitive advantage4

Market Your Business4

Real time response5

Attracting talent5

Expert reputation6

Brand monitoring6

Engaging customer's6

Marketing and advertising7

Recommendations7

Balance up loader7

Bill payments8

Money transfer8

Loans8

New activities in town9

Enhancement in mobile activities9

Conventional Strategic Planning10

Contemporary models11

Complexity & chaos theory11

Positive returns economics11

Conclusion12

References13

Strategic Management

Introduction

It can be defined as the abilities of the members involved in an organization that establish and implement strategies. These strategies are used to increases the value of market share and revenue, as well as to serve their customers in a better way. Steps have been taken in order to make strategies and then putting them into action is the business leadership. Strategic capability should be strong for any company. If they do not have a strong strategic capability, so they are unable to survive.

Discussion

Strategic capability of Facebook

Considering the analytical framework, strategic capability is basically the ways of making strategies and implementing them in order to get the benefit in the future. Face book is the most renowned site these days. In 2004, Mark Zuckerberg and his two friends created the beginning version of facebook (Baldwin & Hanel, 2003, pp. 378-396). This version was created for the printed student directory at Harvard. It was basically similar to the other social networking sites, but in beginning it does not allow the membership to those people who have an email address with .edu. Their basic strategy was just to have a focus on connecting people. As people know each other, so he thought to connect everyone on one platform(Baldwin & Hanel, 2003, pp. 378-396).

There were a lot of features that face book has launched with the passage of time. Photo sharing, like button, face book ads, commenting, socializing are some of the basic things that face book has launched. Face book needs to establish some long and short term goals. The basic function of face book is to expand them in order to grow and survive(Baldwin & Hanel, 2003, pp. 378-396). They already have an idea that there are a lot of social networking sites available, but they need to focus on such a distinctive feature, that gives a competitive edge.

Growth of face book

In 2004, face book has been launched, and it becomes the center of attention among people. Consumers love to spend a lot of time on face book. According to Nielsen, consumers are using social media for 23% of their time, which is double than the biggest category of the gaming sector in which people spend only 10% of their time((Mandelshtam,2007,pp.1-2). It has become popular for all the activities done digitally. It allows people to interact with their friends, family, and acquaintances. Beyond all this, they were able to connect themselves with brands. Marketers are also taking a lot of interest in social networking. They are doing so, by introducing the fan page or news feed. Face book is growing because of some other features, as well. Photo and video sharing are also becoming very ...