Corporate Entity Analysis- Face book

Corporate Entity Analysis- Face book

Thesis Statement

Face book has been contributing to the world globally, economically and socially. Zukerberg has proved many business strategies that are proving successful for the positive outcome.

Introduction

Success of Facebook

Facebook has become a global business generating revenue of $4 billion that was just a coding project 8 years back in the dorm room of Mark Zukerberg. There were many networking social sites that were running before Facebook came into existence; all went down when Facebook started to roll. There is success story behind it. Mark built this during his spare time having no business plan in his mind, gaining advices from his friends about the idea he had. Not even going through the business market. Basically he didn't go through all the steps an entrepreneur goes through before establishing a business. It was just a casual launch. It's just about how the idea is executed (Blodget, 2012).

According to Mark Zukerberg,” Because ideas are a dime dozen”. As he knew there were many with the same ideas out there, but he was the one capable of executing it the way he did it and now he is standing among all. He believed in making things happen. Facebook followed a basic rule of simplicity, sometimes making things complex don't work out because people out there are not capable of using it. Looking at the negatives and the way it could affect Facebook and before they effect avoiding the problem. As there were many problems that were faced by other social networking sites that eventually let them down later on. Mark kept in mind all the things that could let down Facebook in order to avoid them. The idea behind Facebook was not business, it was mainly the product. He was so obsesses with what he made rather then thinking about the business or revenue it generated. Even before the Facebook was launched, Mark clearly stated to his shareholders about focusing on the social mission.

He followed one rule in his company and that was the way he hired and fired people, because he believed that the company's strength is the people rather than the technology it self. In order to achieve success in the business, it's important to have a team of hardworking people. Since the day Facebook has launch it has been controlled and maintained by Zukerberg. His strategy towards his company is his long term goals. He keeps rolling out new features every now and then depending on the needs of customers. Leadership skills are the main thing behind the success of Facebook. He worked really hard on it by getting help with many advisors including investors, executives and entrepreneurs (Blodget, 2012).

Contribution of Facebook in American society

Facebook has a huge impact on American Economy. A research done by the faculty associates of Robert H. Smith School of Business at University of Mary Land, that an estimated 182,000 new jobs has been created which contributed to the economy and more than ...