Facebook's Core Competencies
Facebook has evolved to become the most popular social networking platform for millions of people worldwide. Although other sites have attempted to replicate its features, none has been able to connect as many people as Facebook. Being the world's largest and most used social website is one of Facebook's distinguishing and fundamental competencies. A firm's core competence, according to Baack, Minnick, and Reilly (2014), is its most competently conducted internal activity that is important to its strategy and competitiveness. Another distinct and key competency is assisting with the expansion of amber alert reach and notification. The company's values and mission statement can be said to shape planning through the addition of new features as well as its appeal to persons of all ages.
The safety of the millions of users of Facebook is an example of internal and external factors that may influence its business in the future. It allows its users to modify the privacy settings and determine who has access to specific parts of their profile. It is free to its users and only uses ads and banners to generate revenue.
SWOT Analysis of Facebook
In performing a SWOT analysis of Facebook, the first category to be considered is its strengths. It is the number one social media site in the world. It also continues to be free and has access to organizations that seek to promote their business. Other than networking people also use Facebook for advertising and marketing.
The main threat for Facebook is ensuring the security of its users by improving the ability to monitor and block people with bad motives like sexual predators. Opportunities for Facebook include the ever increasing world population and continued technological advances.
Facebook has weaknesses such as security issues as it could easily lead to a violation of violation and the high instances of cyber bullying. The ease with which minors can register a Facebook is also another weakness that might prompt some people to choose more secure and accountable sites. As a market leader, it should be able to provide more accountability and security to its users.
References
Baack, D., Minnick, C., & Reilly, M. (2014). The five functions of effective management. San Diego, CA: Bridgepoint Education.
