Topic > A report on Facebook Social Networking Corporation

Facebook is a multinational company that offers online social networking services. It was founded in 2004 by five Harvard students. Those founders are Mark Zuckerburg, Eduardo Saverin, Dustin Moskovitz, and Chris Hughes. The company was founded in 2003 and was called Facemash at the time, but was shut down two days later by the university. Then, in 2004, it took the name of Facebook and was used by university students and then spread to students of other prestigious universities and by the end of 2004 it would have reached one million active users. Facebook was announced in 2012 as the world's largest social network with over one billion users. Now more than 2.5 billion users are on Facebook. The company is headquartered in Menlo Park, California. Say no to plagiarism. Get a tailor-made essay on "Why Violent Video Games Shouldn't Be Banned"? Get an original essay Facebook's organizational culture is very important for the company's development. This is how it maintains its competitiveness and promotes creativity and innovation among its employees. Facebook culture is a hacker culture as described by Facebook Inc.. It is a culture that pushes employees to strive for improvement. Among the most important characteristics of Facebook's organizational culture are creative problem solving and decision making, boldness, openness, speed, and continuous improvement. The creative culture of problem solving and decision making pushes employees to come up with unusual ideas. The culture of boldness helps improve the company's flexibility in dealing with problems. For example, encourage employees to address problems immediately and on their own instead of waiting for senior management to resolve them. Openness highlights the importance of internal communication between employees and minimizes restrictions on employee activities. For example, the company encourages employees to focus on the problems that are most important to them, thereby improving workers' problem-solving skills. The speed feature is what helps Facebook respond quickly to trends and changes in user preferences. This functionality is implemented through the use of small, flexible and fast-moving teams. The Facebook company believes that improvement is a never-ending process, so it uses the continuous improvement feature to continuously iterate products and regularly evaluate its websites, apps and products. Facebook supports its social media activity through its social initiatives that cater to all its different users' interests and therefore requires global standards. For example, it must maintain privacy that meets several standards. A recent social initiative is the thoughtful reaction they added, which allows users with different social standards to show their care and improve the relationship between users. There are several groups that Facebook takes into consideration when approaching its social initiatives. These groups are users, advertisers, employees, governments and communities. Facebook holds the green approach in high regard. Its carbon emissions are relatively small compared to those of Google Inc. For example. That's only 258,000 tons of CO2 per year, while Google's is 1.5 million tons per year. The company is taking many actions to become greener. For example, in 2011, it announced that it will build an eco-friendly data center in Sweden by taking advantage of the country's temperature to keep servers cool. Facebook also announced that it is “committed to reducing our greenhouse gas emissions by 75% and achieving 100% renewable energy by2020". As quoted from the Facebook website “We believe sustainability is more than operating responsibly. It is an opportunity to support the communities we are part of and have a positive impact on the world.”, it is clear that Facebook's green approach is the market approach in which Facebook responds to customers' preferences for environmentally friendly products Facebook is working to minimize energy, emissions and water impacts, protect its workers and the environment, and collaborate with others to develop and share solutions. Social initiatives have a big impact on Facebook , Facebook works very hard every year to develop new features that help better protect user privacy. Facebook also takes other actions, such as addressing the interests of advertisers, which include effective and efficient advertising services through automated reporting to minimize the human intervention. Facebook also caters to the interests of its employees which include high compensation and career development through competitive human resources policies. For example, Facebook offers the highest salaries. Facebook works in virtually all countries, except a few where it is banned. These countries are China, North Korea, Syria and Iran. Facebook definitely has a geocentric point of view. He believes that it is very important to have a world-oriented vision and take advantage of the diversity of its employees. Facebook's website states that "Hiring people with diverse backgrounds and points of view helps us make better decisions, build better products, and create better experiences for everyone." Facebook believes it is very important to hire highly skilled people from underrepresented groups to benefit from their wide variety of perspectives and experiences which would help deliver products truly designed for everyone. Facebook was started only at Harvard University and was available to people with Harvard emails, but by late 2004 membership had expanded to nearly every US university and reached Canadian universities as well. Facebook then continues to expand into universities and high schools in countries such as Australia, Mexico, New Zealand, the United Kingdom and Ireland. It wasn't until September 2006 that Facebook became open to anyone over the age of 13 with an email address. At that point Facebook had officially gone global. Facebook's main growth strategy is diversification, both related and unrelated. Facebook, for example, has teamed up with the Oculus VR company to offer virtual reality technology in social networks. Another example is that Facebook coordinates with governments to allow their citizens to have access to Facebook. Additionally, Facebook forms alliances with telecommunications companies to increase the number of users accessing Facebook via the mobile application. In Vodafone, for example, there are offers and packages designed only for accessing Facebook. By doing a SWOT analysis on Facebook we discover that it has many strengths that make it one of (if not) the largest social networking platform. Facebook's main strengths are the band's strong image, large consumer base, high revenues and innovative workforce. These strengths bring many advantages to the company. For example, the large consumer base encourages more people to join Facebook and attracts more advertisers. On the other hand, Facebook suffers from some weaknesses such as imitable products and services, negative impacts of advertising on user experience, and low business diversification. Facebook's websites, mobile apps, and other services are imitable in terms of basic functionality, which makes