Question 1
Good management is achieving organizational goals effectively and efficiently. It is done through proper planning, effective organizing, leading, and controlling. Facebook’s success can be greatly attributed to result of good management by cofounder cum CEO Mark Zuckerberg.
Management process includes four basic functions:
• Planning
• Organizing
• Leading
• Controlling
Planning is the first function of management. It is a process used by managers to identify goals and the best ways to achieve them. Good planning is creating a systematic way to achieve goals through critical thinking of company decisions. Planning also ensures there are backup plans in place for unforeseen setbacks in the company's future. Steps in planning include:
• Setting organizational goals
• Evaluation of current company status
• Evaluation of future company status
• Define actions and best method to achieve goals
Under Mark Zuckerberg’s lead, Facebook has become the world’s largest social network with 1.71 billion active users monthly. In order to create the world’s number one social network, he planned to expand the social network’s global influence. Offering free but limited basic service apps to mobile phone users in 37 different countries did this. In addition, to further increase the number of Facebook’s audience, he has acquired messaging app Whatsapp and photo-sharing app Instagram, which 1 billion and 400 million active users monthly respectively.
To better position the company’s future for two upcoming global phenomenon: Artificial Intelligence and Virtual Reality, Mark Zuckerberg has plans to incorporate both into Facebook. For example, Facebook uses artificial intelligence to personalize newsfeed, translating posts and identifying people in photos. Facebook is also exploring the use of Virtual Reality to enable users to hang out with friends in virtual spaces by using Oculus Rift VR headsets.
The second function of management is...