'Facebook Assignment\r'

'Nathan Barry †S10001606 Business Context Introduction The following appointment was created by our concourse [ ] Our chosen organisation for the appellation is the online social networking land site Facebook. As a group we feel as though this would give us a good opportunity to analyse the factors of care content in an in-depth way. Business could be specify as â€Å"the transformation of inputs into outputs. This transformation process takes identify against a background of external influences which affect the true and its activities”. (Worthington and Britton 2000:3) Facebook BackgroundFacebook was co-founded in February 2004 by Mark Zuckerburg and roommate Dustin Moskovitz, some(prenominal) Ameri hobo entrepreneurs who attended Harvard University, Massach maptts. Zuckerburg now owns around a quarter of the organisation with Dustin still having a pct of around 6-7% as of 2010. Facebook’s mission story simply reads â€Å"to give people the power to do nation and make the world more open and machine-accessible”. (www. facebook. com) Economics â€Å"The study of how human beings seek to use resources to satisfy the whole range of their needs, wants and desires”. Wetherly and Otter 2008:3) We need resources in order to satisfy our needs, wants and aspirations. The economy provides this in tetrad categories which are land, labour, capital and enterprise. The economy surrounding Facebook is doubtlessly large and still growing rapidly with investors continuingly aspect to pump money into the company. The site attracts businesses from all everywhere the world and of all sizes with its expansive advertising dummy which reaches out to millions of exploiters daily.Recent figures published by Facebook themselves estimate a figure in the region of â€Å"five vitamin C million users with 50% of chose actively logging into the site daily”. (www. Facebook. com/stats). This and so is an extremely attractive propose f or any business looking to advertise as most target audiences are reachable. Supply and posit is an extremely important factor for Facebook. They are the market leader in there sector and therefore control the price as investors and company’s looking to advertise have little quality when it comes to substitutes (compliments).There is a huge strike for what Facebook offer and this demand is only met by small supply which as a result increases the price. Legal/ applied science engine room is â€Å"the sum of knowledge of the means and methods of producing goods and services” (Worthington and Britton 2000:138). Technology is massive issue for any online business as falling behind could be very expensive in barriers of gaining a competitive advantage. Facebook specifically must concentrate on information engineering (i. c. t) as they handle huge quantities of data rough their users.Businesses must comply with legislation and Facebook are a complex example with issu es such as eBullying, â€Å"the term used to refer to bullying and harassment by use of electronic devices such as smooth phones, e-mail, instant messaging, text messages and websites”. (www. ebullying. co. uk). Facebook attempts to reduce this with an extensive rights and business page which must be agreed to when the user signs up to the website such as an age prohibition policy although this is easily flawed as users can enter the wrong D. O. B without checks being carried out.\r\n'