Facebook allows users to connect with their family and friends through a social network. While attending Harvard University, Mark Zuckerberg was 23 years old when he founded Facebook. He also developed other social networking websites. Mark Zuckerberg founded Facebook in February 2004, allowing Harvard University students and others to access the social networking site. Statista states that Facebook is the most used social network worldwide, with 1.8 billion users. Nathaniel Smithson’s article, Facebook Inc.’s Vision Statement & Mission Statement (Analysis), states that Facebook changed its mission statement in response to a Cambridge University data breach. Smithson states that Facebook has a current mission statement which is “to empower people to build communities and bring people closer together”. Facebook wanted people to understand the importance and power of connecting, building communities and empowering others. Facebook and other social network sites like it have brought attention to many important movements and events around the globe. Facebook and other social media websites can make a video or message go viral, which draws attention to the issue and prompts action. Facebook can be used to share information with others, or via informative ads. According to Business Insider, Facebook’s core values are five. One, “Be bold” refers to taking risks and following in the footsteps of innovative people, even when you make mistakes. Facebook employees need to be able to see the potential for impact and have the drive to fulfill their mission. To be among the most innovative people in the world, employees must “move fast”. This means being able to think fast and not fear of losing opportunities. To create a community, you must be transparent and provide feedback. Five, “Build social value”, which allows employees to do meaningful work with real results. Facebook’s corporate culture is strong and inspiring. Employees work together in teams to create products and solve problems that matter to them. Facebook placed a high value on transparency and products. Facebook offers employees great benefits such a vacation benefit, food benefits, and insurance. Joseph Chris reports that Mark Zuckerberg’s leadership style includes constant innovation and growth. Employees are challenged to think and react quickly. This creates an environment where employees can voice their opinions. Zuckerberg is a democratic leader. Facebook has a flat organizational structure that includes fewer levels. The organization structure was simplified to lower costs, increase communication and allow for more flexibility. Facebook is committed to attracting the best candidates. Facebook core values are evident in recruiting and hiring. It is important that new employees are aware of the goals and direction of Facebook. Facebook encourages employees to be competitive and helps them develop their skills. Facebook is a very popular social network, but it faces some serious challenges. Adam Levy has written an article called The 3 Biggest challenges facing Facebook. He states that Facebook needed to adopt Europe’s General Data Protection Regulation. This regulates the data Facebook can access. Levy continued, saying that Facebook, like any other digital entity in Europe, had to publish new privacy policies and make major changes to its operations. He also stated that Facebook must detail the data it requires and why for advertising purposes. This restriction could affect Facebook’s ability create ads. Many are worried that revenue growth will slow with over 1.8 billion Facebook users. The company has limited places to post the ads. They are contributing to Facebook’s growth in revenue. The company is actively looking into other ways to engage with its users before losing some of them. In 2014, Facebook purchased WhatsApp for $19 billion. According to Emily Bary’s article 3 Big Challenges Facebook Faces in 2017, WhatsApp has 1.5bn users. Facebook has not yet monetized this asset. The company faces another challenge in regaining trust from its users. Facebook is often used by people to spread fake news. Facebook must find a way quickly to tell the difference between the true and false news. Sometimes, I’m shocked when a celebrity’s death is announced on Facebook. False information can spread further and cause harm to those involved. To address these Facebook challenges, I recommend that employees implement a plan that allows them to focus on new locations to place ads in order to increase company revenue. The plan will include using Instagram and WhatsApp to place ads. Second, train employees on how to recognize fake and real new products. Keep employees up to date with all changes and be transparent. Recognize employees for their hard work. Five, take a look at the work of our competitors and determine if they have any suggestions for improving their engagement with users. According to what I’ve seen, Facebook spends much of its time promoting its culture. This is important because it allows employees to have great ideas and become innovators. Facebook uses Herzberg’s Two Factor Theory to motivate its employees. Recognition, responsibilities and achievement are all key factors in the company’s success.
