Peer Review Instructions: Read the paper of your peer carefully. Make any editorial corrections on the paper. Answer the following questions thoughtfully and clearly and make notes on the paper o

Name

BUAD455.50A - Strategy and Policy (Summer 1 2023)

Date

Paper 1- Facebook

Facebook has always prided itself on enabling people to connect with each other while fostering a sense of community through its online platform. However ongoing challenges such as user privacy breaches and proliferation of fake news has prevented them from progressing towards their objectives smoothly. One notable flaw with Facebook's mission statement is that it does not provide sufficient detail; some stakeholders suggest that it would be more effective if it were more elaborate both visually and content wise Additionally skeptics question whether this focus aligns effectively with company operations as it stands today. Facebook's current outlook which seeks “to give people (1) the power to build community (5) and bring the world (3) closer together,” (Meta, 2004) - is missing critical elements integral to comprehensive mission statements. For instance there is no spotlight on how specific products or services will be offered technological innovations that will drive progress towards their objectives, or philosophical tenets guiding operations. Other key attributes such as self conceptualization competitors, public image and employee engagement are not covered at all.

Facebook's mission statement is incomplete as it fails to address all nine essential components required of such for a complete mission statement. A significant element lacking in this statement is detailed information regarding customer demographics or behaviors beyond identifying them simply as "people." This insufficiency limits effective marketing strategies and product development catered specifically toward customers' needs. Additionally, there are no mentions regarding markets served by Facebook nor insights into the firm's technological capabilities or comparative advantages, hindering identifying unique factors that differentiate them from competitors resulting in sustainable success.

Facebook's mission statement does not include any mention of its commitment towards attaining monetary expansion or profitability - an important factor that cannot be overlooked when articulating an effective mission statement. Instead it vaguely references "building the world we want" without shedding light on the company's fiscal ambitions or targets. This absence creates confusion around how Facebook plans on ensuring continual fiscal sustainability and progress in subsequent years - posing uncertainties among investors and other key stakeholders alike.

Finally, most notably absent from Facebook's mission statement are any acknowledgments regarding their social or environmental obligations beyond connectivity among individuals. It remains unclear how Facebook intends to execute this goal while also addressing broader societal issues in tandem with employee interests. Additionally there is no mention in regards to personnel value or insight into corporate culture; these omissions may lead potential applicants to feel uncertain about working for the organization long term.

Facebook's vision is centered around leveraging innovative technology as a means towards connecting people worldwide with ease. We make it our priority to provide top notch customer experiences through products and services that encourage meaningful relationships among individuals while promoting community engagement. Upholding social responsibility is an integral part of what motivates us daily. We are driven by developing practical solutions that have long term impacts on sustainability globally. Diversity among employees plays a critical role in cultivating a culture supported by creativity within Facebook. Our pursuit towards economic growth does not diminish our focus on upholding ethical values or striving for societal change.

References

David, F. R., & David, F. R. (2017). Strategic management: A competitive advantage approach. Boston: Pearson.

FAQs META. Meta - Resources. (n.d.). https://investor.fb.com/resources/default.aspx