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Facebook Strategic Audit

A. Structure and Organizational Characteristics:

One of the major operational pillars upon which Facebook stands is functional organizational structure which drives its day-to-day processes effectively. The firm boasts diverse departments ranging from engineering to marketing with each headed by well-seasoned experts whose cumulative know-how derives growth in their specific fields. By so doing executing this arrangement the effective coordination amongst different units becomes possible hence bolstering proficiency all round. Also worth mentioning is Facebook's embraced concept of dispersed decision-making resulting in encouraging employees' autonomy hence nurturing creativity thereby boosting morale amongst its team members from diverse strata thereof within the organization's hierarchy chain.1

B. Culture

Collaboration, innovation, openness, and speed are cornerstones that define Facebook’s unique corporate identity. The company places great emphasis on innovative thinking among its employees- encouraging them to abandon conventional methods fostering open communication channels where diversity sparks creativity thus enabling collaborative efforts directed at producing results that surpass expectations quickly.2 Facebook attracts top talent because it has managed through its collaborative efforts driven by innovative thinking practices geared towards promoting individuality, while uniting employee strength it has transferred benefits from cross-functional cooperation effectively driving lasting success despite persistently changing tech trends. As with any other organization, challenges are part of Facebook’s culture. Fast-paced environments although exciting may become mentally demanding triggering intense pressure levels for employees- causing exhaustion at work or other life aspects. Additionally, the company has faced ethical concerns related to privacy matters stemming from its disruptive approach which inevitably puts certain groups at risk.3

C. The Four P’s of Facebook

1. Product:4

With Facebook's advertising platform, enterprises can reach their target audience effortlessly. The advertising solution encompasses diverse ad formats like selective carousels, sponsored posts, image, and video ads backed by advanced targeting options harnessing demographic data, interests, and user behavior analysis in real-time.

1. Price32

In providing massive online exposure for businesses Facebook has created a lucrative advertising platform utilizing a cost-effective model of either cost per click (CPC) or cost per impression (CPM). Such attractive deals are auctioned off between advertisers based on various criteria such as audience targeting, ad placement and competitor strength with prices correspondingly fluctuating.

1. Promotion32

In order to support businesses in enhancing their promotional efforts on its platform, Facebook provides a diverse range of tools and features. This includes call-to-action buttons for advertisements along with other functionalities like scheduled placements or targeted targeting options. Additionally, there exists provision for running an A/B test amongst various ad variations in accordance with business goals aimed at improved engagement levels.

1. Place32

Businesses leverage Facebooks diverse advertising platform to gain an edge in promoting their offerings across an array of strategic placement channels on this social media giant. They can display their content using numerous options like the Facebook News Feed, Instagram feed Stories, Audience Network or Messenger.

A. Financial Resources

In the realm of technology as well as social media industries, one cannot ignore heavyweight players such as Facebook, Google, or Twitter. While generating revenues through advertising for both Facebook and Google is their primary source of income stream; this doesn't hold true for Twitter albeit being dependent on advertisement to some extent. A few metrics worth attention whilst comparing them are Revenue earned, Profitability figures and their user bases. Starting with sensational revenue growth followed by exceptional profit margins owing to an ever-growing massive user base alongside a marketing strategy puts Facebook in a good place. Nevertheless, both Facebook and Google seem capable of churning significant profits out of their sturdy operations whilst twitter struggles achieving consistent profitability although it has shown improvement over time

Table of Internal Environment

1. Massive User base (STRENGTH)5: An area where Facebook excels significantly is through having an enormous and widespread user base comprising billions of active subscribers worldwide. By utilizing this potent leverage well, Facebook draws advertisers towards itself which results in generating ample revenue while retaining dominance over social media platforms.

2. Data and targeting capabilities (STRENGTH): Facebook boasts a wealth of user data that allows for the provision of highly targeted advertising services. Advanced algorithms and tools available on the platform enable advertisers to segment demographics cater to varying interests and tap into different consumption patterns. By capitalizing on these features businesses can have a competitive edge over rivals.6

3. Privacy Concerns (WEAKNESS): Facebooks user privacy and data breaches have been the subject of intense scrutiny and criticism. This has resulted in serious legal and regulatory challenges, widespread public skepticism and the possibility of a diminished user base. All of these factors are negatively impacting the companys reputation and could impede future growth.7

4. Content Moderation Challenges (WEAKNESS): Managing the vast quantities of content on Facebook remains a persistent hurdle for the platform due to issues such as fake news, incendiary speech, and harmful posts. Failure to address these challenges effectively could jeopardize user engagement levels and trigger regulatory measures.8

5. Advertising Growth (OPPORTUNITY): The steady escalation of the digital advertising industry offers promising potentials for Facebook to broaden its advertising revenue. As companies devote more funds towards internet-based marketing, Facebook stands a chance to gain from its robust ad targeting abilities.9

6. Mobile Advertising (OPPORTUNITY): By embracing the rise of smartphones and mobile internet usage worldwide Facebook positions itself favorably to take advantage of opportunities within the mobile advertising space. The company is focused on capitalizing on this phenomenon as it continues to unfold enabling it to grow its foothold within this highly competitive sector.

7. Intense Competition (THREAT): In light of stiff opposition from established companies as well as emerging players Facebook is facing intense competition in the industry. Novel features and differentiated user experiences offered by competitors pose a significant threat to Facebooks platform as they could attract users away affecting its dominion over the market.

8. Regulatory and Legal Landscape (THREAT): Facebook encounters significant opposition owing to heightened regulatory scrutiny driven by shifting privacy regulations. Compliance with evolving law demands prompt adaptation from the corporation; failure to comply poses a significant threat. As costs rise concurrently with limitations on the application of data, this phenomenon possesses a negative implication concerning Facebook's operational basis of profit generation if not adequately addressed.10

The success of Facebook within the social media sector owes much credit to its mission statement that steers its development. “To give people the power to build community and bring the world closer together,” expresses Facebook's dedication towards connecting people fostering community through meaningful interactions. It reiterates values such as inclusiveness connectivity while empowering users that are important in today's digital era. Despite facing challenges along with criticism leveled at it- Facebook remains resolute in answering that call by utilizing its mission statement which acts as both shield-and-sword; by taking concrete steps towards societal issues administration enhancing user experiences towards making positive contributions towards society fostering inclusive communities.

To implement Facebook’s recommended strategy, several programs could be implemented to restructure, redefine roles & responsibilities while aligning their culture with established quality metrics which helps with performance improvements. Of particular note is Total Quality Management (TQM) programs that can help incorporate diverse perspectives in arriving at common understandings of value-providing areas within the organization. For example, these identified goals could revolve around process improvement areas like customer satisfaction, operational efficiency, or creation of new markets. Collaborative efforts between strategic planners are paramount when developing these programs to secure alignment among all institutional stakeholder groups towards shared objectives - recognizing that these groups may comprise both internal staff plus subject matter experts from relevant fields. Crucially too, cost-benefit analysis must be carried out where appropriate along with a pro forma budget estimate developed early on. Program ownership would involve senior management personnel or thoroughly trained & knowledgeable program managers; ensuring they command necessary resources & authority throughout their implementation timeline. Developing execution plans based on practical timelines and priorities is significant in this regard as it carefully considers organizational capacity for change, project dependencies and potential impact scope assessment.

Evaluating performance after implementing new strategies requires establishing an effective system for planning, executing and managing processes & finances at Facebook. A useful tool for doing so is a strategic balanced scorecard that evaluates strategy execution & performance management with emphasis on finance-related matters. By employing a strategic balanced scorecard at Facebook to appraise its implemented strategy's impact upon company performance, assessments can be made regarding potential value-additions across both organizational processes & financial outcomes alike. Such evaluations readies companies like Facebook with information critical empowering effectual decision-making ranging from strategies' continuance or evolution.

Organimi. (n.d.). Facebook’s organizational structure [Interactive Chart]. Organimi. https://www.organimi.com/organizational-structures/facebook/ 

Misha. (2022). 6 things to know about the workplace culture at facebook. Carrus. https://www.carrus.io/blog/6-things-to-know-about-the-workplace-culture-at-facebook 

Perrigo, B. (2021, October 28). What it’s like working at Facebook, per facebook papers. Time. https://time.com/6110829/working-at-facebook-papers/ 

Kissinger, D. (2018, June 18). Facebook Inc.’s Marketing Mix (4PS) analysis. Panmore Institute. https://panmore.com/facebook-inc-marketing-mix-4ps-analysis#:~:text=Photo%3A%20Public%20Domain)-,Facebook%20Inc.,and%20Price%20(the%204Ps). 

FACEBOOK, INC. FB-12.31.2013-10K. (n.d.). https://www.sec.gov/Archives/edgar/data/1326801/000132680114000007/fb-12312013x10k.htm 

Murgia, M., & Murphy, H. (2019, August 20). Facebook unveils tool that allows users to curb targeted advertising. Subscribe to read | Financial Times. https://www.ft.com/content/4fa74636-c31f-11e9-a8e9-296ca66511c9 

Cadwalladr, C. (2018, March 17). Revealed: 50 million facebook profiles harvested for Cambridge Analytica in major data breach. The Guardian. https://www.theguardian.com/news/2018/mar/17/cambridge-analytica-facebook-influence-us-election 

META. (n.d.). Misinformation. Transparency Center. https://transparency.fb.com/policies/community-standards/misinformation 

Muhammad, F. (2023, May 5). Advertising evolution: How personalization has improved over time. Instapage. https://instapage.com/blog/advertising-evolution-how-personalization-has-improved-over-time-4/ 

Vedova, H., & Technology, T. F. O. of. (2022, January 27). FTC imposes $5 billion penalty and sweeping new privacy restrictions on Facebook. Federal Trade Commission. https://www.ftc.gov/news-events/news/press-releases/2019/07/ftc-imposes-5-billion-penalty-sweeping-new-privacy-restrictions-facebook 

1 Organimi. (n.d.)

2 Misha. (2022)

3 Perrigo, B. (2021)

4 Kissinger, D. (2018)

5 FACEBOOK, INC. ( n.d.)

6 Murgia, M., & Murphy, H. (2019)

7 Cadwalladr, C. (2018)

8 META. (n.d.)

9 Muhammad, F. (2023)

10 Vedova, H., & Technology, T. F. O. of. (2022)