SWOT Analysis - Facebook

Lexie d.

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SWOT Analysis - Facebook

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SWOT analysis Facebook, WhatsApp, Instagram, Messenger, Portal, Calibra, social media, communication, TikTok

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Abstract

Facebook is an online site for social networking between individuals who each create their own online Facebook profiles. As of the third quarter of 2020, Facebook had over 2,740 million monthly active users (Clement, 2020). The site was founded in February 2004 by a student at Harvard University, Mark Zuckerberg. Originally, he created it for the purpose of connecting the university's students and called it 'The' Facebook.
After only two months The Facebook network was extended to all Ivy League servers. In October 2004 Zuckerberg received 12.7 million dollars from investors towards the expansion of the website. In September 2006 Facebook (no longer called 'The' Facebook) became available to anyone with a valid email, not just students, to create a profile.
This inclusion caused Facebook's traffic to grow by 89 percent. Facebook increased its profits by allowing advertisers direct advertising access to their consumers in 2007 (Croft, 2007).

Introduction
1. Facebook
2. Industry and Market Data
SWOT Analysis
1. Strengths
2. Weaknesses
3. Opportunities
4. Threats
Conclusion and Strategic Recommendations

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[...] Without the support of advertisers, Facebook would have almost no income. If advertising income took a significant knock, Facebook may have to start charging users for profile creation, which will not go down well as consumers are sticky to adjust to upward price changes. Opportunities As mentioned in the weaknesses section, Facebook does not charge its consumers for profile creation. In order to diversify its revenue streams, Facebook could launch a service platform that is unique and charges a fee for profile creation. [...]

[...] BBC News Facebook to pay a record $5bn to settle privacy concerns. British Broadcasting Corporation. Online at: https://www.bbc.co.uk/news/business-49099364 Clement, J Facebook access penetration 2020, by device. Statista. Online at: https://www.statista.com/statistics/377808/distribution-of- facebook-users-by-device/ Jandhyala, D Visual learning: 6 reasons why visuals are the most powerful aspect of eLearning. eLearning Industry. Online at: https://elearningindustry.com/visual-learning-6-reasons-visuals-powerful- aspect-elearning Kirkland, A countries where Facebook has been banned. Index on censorship. Online at: https://www.indexoncensorship.org/2014/02/10- countries-facebook-banned/ Facebook What is Facebook's mission statement? Facebook. Online at: https://investor.fb.com/resources/default.aspx#:~:text=Founded%20in%202004%2 C%20Facebook's%20mission,express%20what%20matters%20to%20them. [...]

[...] SWOT Analysis - Facebook Introduction A. Facebook Facebook is an online site for social networking between individuals who each create their own online Facebook profiles. As of the third quarter of 2020, Facebook had over 2,740 million monthly active users (Clement, 2020). The site was founded in February 2004 by a student at Harvard University, Mark Zuckerberg. Originally, he created it for the purpose of connecting the university's students and called it ‘The' Facebook. After only two months The Facebook network was extended to all Ivy League servers. [...]

[...] However, some advertising companies that provide revenue for the Facebook may have taken a hit during the pandemic and consequently not been able to afford to advertise through Facebook. Facebook will better protect itself in the future by finding ways to diversify its revenue streams. References Clement, J Number of monthly active Facebook users worldwide as of 3rd quarter 2020. Statista. Online at: https://www.statista.com/statistics/264810/number-of-monthly-active- facebook-users-worldwide/#:~: text=With%20over %20b illion%20monthly, the%20biggest%20social%20network%20worldwide. Croft, C A brief history of The Facebook. Meerut College. Online at: http://www.meerutcollege.org/mcm_admin/upload/1587223450.pdf Reiff, N companies owned by Facebook. Investopedia. [...]

[...] Since the start of the pandemic, Facebook has gained 242 million monthly active new users. In the third quarter of 2020, Facebook's total advertising revenue amounted to 21.22 billion dollars (Clement, 2020). High revenues are beneficial as they can be used for investment into research and development projects. The investment into research and development of new products and business opportunities is essential for a business that wants to grow and remain relevant in an ever-changing and developing world. Facebook is in the technology sector and is thus subject to constant change and innovation as it is a highly competitive sector. [...]

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