Facebook Assignment

Nathan Barry S10001606 Business Con schoolbook Introduction The following denomination was created by our group Our chosen organisation for the assignment is the online social networking berth Facebook. As a group we feel as though this would pass off us a good opportunity to analyse the grammatical constituents of business limit in an in-depth way. Business could be defined as the change of inputs into outputs. This transformation process takes place against a background of external influences which affect the incorruptible and its activities. (Worthington and Britton 20003) Facebook BackgroundFacebook was co-founded in February 2004 by Mark Zuckerburg and roommate Dustin Moskovitz, both American entrepreneurs who go to Harvard University, Massach drug abusetts. Zuckerburg now owns around a quarter of the organisation with Dustin still having a share of around 6-7% as of 2010. Facebooks mission statement patently reads to give people the power to share and make the world to a greater extent open and connected. (www. facebook. com) Economics The study of how human beings seek to use resources to make full the whole range of their needs, wants and desires. Wetherly and Otter 20083) We need resources in order to satisfy our needs, wants and aspirations. The economy provides this in four categories which are land, labour, capital and enterprise. The economy skirt Facebook is undoubtedly large and still growing rapidly with investors continuingly looking to philia money into the company. The site attracts businesses from all over the world and of all sizes with its bigmouthed advertising space which reaches out to millions of users daily.Recent figures published by Facebook themselves estimate a figure in the region of five hundred million users with 50% of chose actively logging into the site daily. (www. Facebook. com/stats). This therefrom is an extremely fetching proposition for any business looking to upgrade as virtually target audiences a re reachable. Supply and demand is an extremely important factor for Facebook. They are the market leader in there sector and therefore control the price as investors and companys looking to advertise have little choice when it comes to substitutes (compliments).There is a huge demand for what Facebook cleft and this demand is only met by small supply which as a result increases the price. Legal/Technology Technology is the sum of knowledge of the message and methods of producing goods and services (Worthington and Britton 2000138). Technology is massive issue for any online business as falling behind could be very costly in monetary value of gaining a competitive advantage. Facebook specifically essential concentrate on learning technology (i. c. t) as they handle huge quantities of data about their users.Businesses must comply with legislation and Facebook are a complex example with issues such as eBullying, the term used to refer to bullying and harassment by use of electro nic devices such as mobile phones, e-mail, instant messaging, text messages and websites. (www. ebullying. co. uk). Facebook attempts to reduce this with an extensive rights and responsibility page which must be hold to when the user signs up to the website such as an age restriction insurance policy although this is easily flawed as users can enter the wrong D. O. B without checks being carried out.