Strategic Analysis - Meta, the new name of the Facebook Group

Angela L.

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Strategic Analysis - Meta, the new name of the Facebook Group

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Themes

Strategic analysis, Meta, Facebook Group, rebranding, metaverse, Mark Zuckerberg, cybernauts, augmented reality, Facebook files, disinformation, personal data, 3D experience, social network, SWOT analysis

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Abstract

Meta as a metamorphosis, but also as a metaverse: that's it, it's done. Facebook has just changed its corporate name. Recently announced during Connect 2021, which took place on October 28, the blue logo platform formalized its mutation. During this media event, Mark Zuckerberg, CEO of the firm, presented with great fanfare his new project: the metaverse. This phrase was first used by writer Neal Stephenson in his novel Snow Crash, the metaverse is touted as the future of the internet. Cybernauts will be able to navigate there, not with smartphones and computers, but rather with virtual/augmented reality glasses or headsets for an experience in total immersion in a virtual, open, live and persistent environment.

The need to turn obscure pages
1. Facebook files
2. Interest in acting (rebranding)
Analysis of Meta's growth strategy
1. The promises of a new virtual world (strengths and opportunities)
2. The limits or possible drifts of the Metamodel (weaknesses and threats)

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[...] In of Instagram visitors were between 15 and 24 years old. But this marketing strategy has a perverse effect: it is the cannibalization of Facebook by Instagram. Conclusion and Strategic Recommendations At the end of the preceding developments, it is easy to see that the shift from Facebook to Meta arouses both fascination and anguish. Some see it as a growth strategy that must, in order to succeed, overcome its weaknesses, optimize its strengths, seize opportunities and, above all, face threats. Others, on the contrary, denounce a diversion. [...]

[...] The firm has been the subject of criticism mixing governance, disinformation and breaches of personal data, to name a few. If the social network has serious assets in its desire to revolutionize the metaverse, the name change will not be enough to make the whole planet amnesic. So Mark Zuckerberg would benefit from being ethical in his leadership. Bibliography and references https://views.fr/2021/10/28/facebook-files-algorithme/ https://www.lesechos.fr/tech-medias/hightech/facebook-les-donnees-personnelles-de-500-millions-demploi-aurait-ete-rendus-publiques-1304125 https://www.numerama.com/tech/750476-facebook-files-les-choses-a-retenir-des-nouvelles-revelations-sur-le-reseau-social.html? [...]

[...] Then, the monetization of the data of its subscribers. The development of decentralized finance opens up many perspectives for the economy in the digital world. Blockchain, web cryptocurrencies are opportunities that Meta will cease to carry out financial transactions in the virtual world it projects. We can spend money there for our avatar's needs or buy goods and services that will be delivered in real life. Libra, Facebook's virtual currency, made up of 100% dollars, is in the making and could see the light of day soon. [...]

[...] Is there a link with the revelations of the scandals called "Facebook files"? In reality, Facebook is using the technique of rebranding, which, in the process, exploits a growth strategy, in order to restore the image of the firm. If the necessary need to turn the page of "Facebook files" has found an opportunity in the name change it is not excluded that "Meta" is a real development strategy whose relevance remains to be proven (II). The need to turn obscure pages Facebook files The term "Facebook files" refers to a series of Wall Street Journal reports based on internal Facebook company documents made public by whistleblower Frances Haugen, previously a product manager at the company. [...]

[...] Interest in acting (rebranding) Behind the change of corporate name from "Facebook" to "Meta" hides a logic of rebranding that the following strategic choices justify: Following the perverse effects of the "Facebook papers" scandals, it was imperative to display new values to put an end to the departures of employees who do not wish to be accountable for the actions of the firm. To re-motivate the staff who remained in post and above all to attract new ones and new skills. Facebook has had to deal with "brain drain." We remember the famous "badge messages", the channel is chosen by resigners who leave poor posts on the social network where they leave the company, disillusioned. Then, the elimination of the negative image. It mainly involves a new brand image. [...]

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