Facebook: Connecting People Across the World - Essay Sample

Introduction

Facebook Inc. is one of the successful social media platforms that permit the sharing of ideas, pictures, opinions, videos, statuses, or any other thing they would want to share with family and friends. Since Facebook has operates data centers in more than 30 countries across the world, it allows various individuals to remain connected with their friends and family members around the world (Ray, 2011). Mark Zuckerberg, the American Internet entrepreneur and the CEO of Facebook, launched the social media platform at the age of 19 years in 2004. Having been taught a lot of computer programming extensively by his father, it was not surprising that he would develop such an important skill. In this paper, we shall analyze the entrepreneur Mark Zuckerberg and his company (Facebook Inc.) and the respective actions taken on new venture planning, development, and management issues within the company.

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Entrepreneur Perspectives

The most significant entrepreneur perspective to be discussed here is the contribution of Mark Zuckerberg in shifting how information is accessed through Facebook from web-based access to a social media approach (Bugeja, 2006). Upon the invention, Mark Zuckerberg could see how his school mates at Harvard were becoming addicted to the comments and the likes that are still observed in the site today. For instance, the site had reached almost three million users by the year 2009. By 2010, the social media site had become one of the biggest in the world, with nearly 400million new users per month (Ray, 2011).

The number of Facebook users has grown exponentially across the world, with most companies using the social media platform to start their own companies as well as advertise their small and medium enterprises. A lot of revenue earned from the company comes from advertisements in which over 5 million advertisers use their services (Ray, 2011). The fact that Facebook has a vast database allows various advertisers to personalize their advertisements to the most interested people through online browsing and shopping.

The future long-term plans of Mark Zuckerberg's Facebook have often remained a point of discussion by various marketers across the world, with many claiming that the social media platform has reached its growth peak (Bugeja, 2006). However, the world's youngest billionaire has a clear plan for the future through the acquisition of Instagram, Parse, WhatsApp, and the Oculus Rift VR. Facebook has become a social glue for the millions of its users. It is indeed the best monetization and advertising solution due to its immense return on investments (ROI).

Facebook’s Contribution to Shifting How Information Is Accessed

Through the dislodging of Myspace, Facebook has now become the leading social networking platform in the entire world. Facebook has made it easy to access relevant information through monitoring the various Facebook newsfeeds and observing what friends with the same interests are doing (Ray, 2011). For instance, in case individuals wish to read a book, they could browse the profile pages of their friends and observe their recommended books instead of searching through the web for a good book.

Facebook attempts to shift online access to information from an approach that is based on searches to a more social one in which people observe their friends' interests and pursue their recommendations based on shared interests (Ray, 2011). As such, Facebook presents some significant challenges to web-based companies such as Google. Through encouraging a paradigm shift in the collaborative use of the internet, Facebook has ended up in the middle of a new universe of social networking (Bugeja, 2006).

The revenue growth for Facebook compared to other substitutes within the industry, such as google, indicate that the networking company has succeeded in winning the trust of the global market. For instance, in 2011, the revenues obtained by Facebook from advertisements alone grew by 81% compared to that of Google, which was only 34% (Ray, 2011). It is essential to note that almost half of active Facebook users across the world log in every single day and an average user has 130 friends who are again linked to about 80 community pages, events, groups. An average extended community creates about 90 pieces of content monthly (Bugeja, 2006).

It is exciting to contrast Facebook customers from users. For instance, the users get access to the free social network in which we can communicate and collaborate with friends and families. The only thing that the users give up for in obtaining the service is their data. Such data shows the preferences of the users, which is then packaged and sold to the customers. Facebook customers use such data in making informed decisions regarding their advertisements.

As such, in contrast to web-based networking platforms, Facebook offers a social advertising platform that enables various people to make discoveries of multiple things that they don't know they require yet (Ray, 2011). Thus, Facebook can be adopted as a more persuasive advertisement with an anticipation of an ad network shortly.

Conclusion

In conclusion, Facebook attempts to shift online access to information from an approach that is based on searches to a more social one in which people observe their friends' interests and pursue their recommendations based on shared interests. As such, Facebook presents some significant challenges to web-based companies such as Google.

References

Bugeja, M. J. (2006). Facing Facebook. Chronicle of higher education, 52(21), 1-4.

Ray, J. (2011). Facebook: a case study of strategic leadership. Available at SSRN 2103975. Retrieved from https://papers.ssrn.com/sol3/papers.cfm?abstract_id=2103975