Statement of the Problem (1 sentence), Background (2-4 sentences), and Recommendations (3-5 sentences, possibly even in bullet form). These are due prior to every class as they are only meant to ensure that students have read and thought about the case to be discussed in that class. They will be graded as check-plus (92) check (87), or check-minus (83) with most students receiving a check grade. Because they are meant as a way to ensure good classroom discussion, NO LATE SUBMISSIONS will be allowed.
The problem statement in the Facebook questions if Facebook has a viable strategy. Facebook was founded in 2004 by 19 year-old Mark Zuckerberg and 3 friends in a Harvard dorm room. Originally created as a tool to allow online socialization for students, Facebook has since grown to become the world’s most popular website with over 1.1 billion users and revenues of over 5 billion dollars.
Unlike MySpace who was sold to News Corp. for 580 million after only being created 2 years earlier. Facebook remained a private company until May of 2012 fueled with investments from Microsoft, and a Russian investment group.
Facebook managers had less pressure to to produce bottom line results and focus on more users first and then profits later.
News Feed: A complex algorithm assigns priority to items on a user’s homepage.
Timeline: Launched in September of 2011 this is an updated version of of profile pages which allows users to create complete stories of their life and who it gets shared with.
Graph Search: Introduced in January of 2013, a search bar allows users to query the portion of the social graph.
Hallmarks of a Good Strategy:
- diagnosis of the competitive challenge
- guiding policy to address the competitive challenge
- set of coherent actions to implement the firms guiding policy
What ways could Facebook implement these steps?
1. Crowd source user suggestions
2. Stay up to date on...