Facebook: How a College Experiment Changed The World

Introduction

Facebook is a social networking site that allows its users to connect easily with their friends and loved ones. At the age of 23, Mark Zuckerberg founded Facebook and developed a few other social networking sites while attending Harvard University. In February of 2004, Mark Zuckerberg launched Facebook, initially allowing students at Harvard University and other universities to utilize the social network. According to Statista (2021), Facebook has expanded its user base to 1.8 billion, becoming “the most popular social network site worldwide.”

Facebook's Mission and Impact

According to an article titled "Facebook Inc.’s Mission Statement & Vision Statement (Analysis)" by Nathaniel Smithson (2020), Facebook revised its mission statement due to a data and security breach that occurred at Cambridge University. Smithson states that Facebook's current mission statement is “to give people the power to build community and bring the world closer together.” Facebook emphasizes the importance of building a community, empowering people, and connecting with others.

Facebook provides a platform for individuals to voice their concerns and share information from any part of the world. Social network websites such as Facebook have highlighted many important events and movements occurring globally. When a message or video goes viral on Facebook and other social network websites, it draws attention to these issues, pushing for action or justice for the parties involved. Facebook is also a valuable tool for individuals to learn new information, whether from other users or through informative ads.

Core Values and Corporate Culture

According to an article from Business Insider (2019), Facebook has five core values. First, “be bold,” meaning sometimes you have to take risks to be at the forefront of innovation, even if you are wrong. Second, “focus on impact,” requiring Facebook employees to have the ambition to further the company's mission. Third, “move fast,” as being among top innovators requires quick idea implementation and less fear of moving too slow and missing opportunities. Fourth, “be open,” as building a community requires transparency and constant feedback. Fifth, “build social value,” allowing employees to engage in meaningful work that has a real impact.

Facebook has a strong corporate culture that is both inspiring and empowering, where employees work in teams to develop products and solve problems they care about. The company places an emphasis on its products and transparency, providing a friendly work environment and great benefits such as vacation, food, and health insurance.

Leadership and Organizational Structure

According to Joseph Chris (2018), Mark Zuckerberg's leadership style focuses on constant innovation and growth, challenges that force employees to think and respond quickly, and creating an environment where employees can voice their ideas. Zuckerberg has a democratic leadership style. Facebook currently has a flat organizational structure with fewer levels, which helps reduce costs, improve communication, and create more flexibility within the organization.

Recruitment Strategy

Facebook's recruiting strategy is to attract the best candidates. The recruiting and hiring process reflects Facebook's core values and culture, ensuring new employees understand the company's goals and direction. Facebook creates a competitive yet positive environment, fostering employee growth and development and creating a fun learning and working atmosphere.

Challenges and Recommendations

Although Facebook is one of the most popular social networking websites, the company faces several challenges that hinder further growth. According to Adam Levy (2019), Facebook had to adopt the General Data Protection Regulation (GDPR) in Europe, which placed restrictions on the data Facebook can collect. Levy states, “Facebook, along with pretty much anyone with a digital presence in Europe, had to issue new privacy policies to its users and make some significant changes to its operations.” This regulation requires Facebook to detail what data it needs and why, potentially affecting its ability to effectively post ads.

With over 1.8 billion Facebook users and numerous ads, there are concerns that revenue growth may slow down. Although many ads appear on each Facebook user page, the company is running out of places to post these ads, which contribute to Facebook's revenue growth. The company is exploring other ways to engage users before losing them.

Facebook bought WhatsApp in 2014 for $19 billion. According to Emily Bary (2017), WhatsApp currently has 1.5 billion users, but Facebook has not yet monetized this newer asset.

Another major challenge is regaining users' trust. People sometimes use Facebook to spread “fake news,” so Facebook must find a way to quickly distinguish real news from fake news. As a Facebook user, there are times when I see announcements of a celebrity's death that turn out to be false. It’s extremely important to correct false news from spreading further, as it can be damaging to the parties involved.

As recommendations to address these Facebook challenges, I propose implementing a plan where employees focus on finding new places to post ads to increase the company’s revenue. This plan includes utilizing WhatsApp and Instagram to post ads, as both were purchased by Mark Zuckerberg. Additionally, developing or implementing a system that helps differentiate fake news from real news and training employees to spot these as well is crucial. Keeping employees informed about the latest changes through transparency, recognizing employees for their achievements, and analyzing competitors to see how they engage their users can also be beneficial.

Conclusion

Based on the information I have gathered, Facebook spends a lot of time promoting its culture and ensuring employees are engaged to produce great ideas and lead as innovators. Using Herzberg’s Two Factor Theory of motivation, Facebook relies heavily on intrinsic motivators to drive the company’s success, such as recognition, responsibilities, and achievement.

References:

• Statista. (2021). Facebook users worldwide. Retrieved from [URL]
• Smithson, N. (2020). Facebook Inc.’s Mission Statement & Vision Statement (Analysis). Retrieved from [URL]
• Business Insider. (2019). Facebook's Core Values. Retrieved from [URL]
• Chris, J. (2018). Mark Zuckerberg’s Leadership Style. Retrieved from [URL]
• Levy, A. (2019). The 3 Biggest Challenges Facing Facebook. Retrieved from [URL]
• Bary, E. (2017). 3 Big Issues Facing Facebook. Retrieved from [URL]