Briefly, It is all the new development of technology on how people collaborate and add content to the web through the network.
Thus, one of the ways is through Friend-of-a-Friend Sites which formally known as Social Networking. The image below shows a concept of Social Networking.
Souce:http://www.dailygalaxy.com/my_weblog/social_media/According to Pew Internet Project Data Demo which cited from Alfred C.Weaver & Benjamin B. Morrison, Social Networking, IEEE Computer Magazine,
In our case study of Social Networking, my focus for this topic whereby is it true that in order to achieve Competitive Advantage in the market is by Being flexible and responsive to members' demands and desires has fueled the site's growth?
In my point of view, I would agree with the statement because let us consider Facebook,
- 66% of teens who have created a profile say that their profile is not visible by all internet users as they have the access to their profiles. This means that the site has fulfilled the users' desires to implement a policy that will keep some of the personal information and profiles in private. For example, on March 19th 2008 report by Heather Havenstein called "new Facebook privacy controls score good reviews" which claimed that new privacy controls such as limit access to information like photo albums or contact information to specific Facebook friends or friends lists , will help users to communicate with groups or friends on the network and manage contact from one list. Thus, Facebook will gain trust from their users simultaneously increase the number of users since 91% of users use social networking site to keep in touch with friends, and increase Facebook's growth in future.
- Facebook has created extensive tools, documentation, and an application programming interface available for 3rd party developers to create their their own Web applications that utilise the Facebook network. For example, Facebook launched a new option that allows users to personalised SocialAds that integrate into photos a notice informing their friends about recent purchasing made at various online retailers. This will help to boost the site's growth via ads promoting company's product and services from applications created for the social networks for the respective company to earn money, as well as a flexible medium of communication.
- Moreover in 2006, Facebook received $25million in venture capital to extend their reach beyond the computer screen to cell phones. "Cingular Wireless, Sprint Nextel and Verizon Wireless are starting a service that will allow users to post messages on Facebook's home pages or search for other users' phone numbers and email addresses from a cell phone". Therefore, my point is that Facebook is being flexible and responsive to members' demands and desires as they would to cater their users' preferences of utilising Facebook services, which simultaneously it has fueled the site's growth.
http://swerve.lifechurch.tv/wp-content/uploads/2007/09/totalpercentages.jpg
To conclude, from the relevant statistics for the number of Facebook users, it indicates how it has developed a strategic plan to sustain competitive advantage in the market and perform consistently, I would say that Facebook is performing well as they rank No.3 in on of The World's Most Innovative Companies, and they successfully understands the behavior of their users. In addition, according to Sajal Kayan's report on March 6th 2008, Facebook founder, Mark Zuckerberg, 23 is the worlds youngest billionaire worth 1.5 billion dollars in social networking. This has create a positive reputation of Facebook in the market.
Whats your verdict?
1 comment:
Compare to other social networks, Facebook is a tremendous success. Compare to other social networks which started much earlier such as Friendster, Hi5, and most famous, MySpace.
From my point of view, reason is simple. Facebook implemented what others have not, face tagging. Next, as you said it, they allowed 3rd party to develop and implement their application. Two brilliant moves that place them in fame.
However, Facebook made a big mistake, I believe, when they rejected Google's offer to buy their stake. Instead, they allowed Microsoft to own that stake.
In returned, Google started OpenSocial, which was next joined by number of social networks such as MySpace, Friendster, Hi5, Orkut, among many others. Most recent, Yahoo became part of OpenSocial as well.
Compare to Facebook, OpenSocial allows participated sites to use applications created by developer among these sites. Which now allows applications to be shared without changing the codes.
This provides a strong competition for the alliance of Facebook and Microsoft.
Now, Facebook's applications are no longer an attraction as it used to be.
Next on the list, is their face tagging. Used to be awesome, but no longer as well. As this same method being implemented in MySpace. Just matter of time till rest of the sites do the same.
Regarding social networks in general. Yes, it seems they have implemented good privacy policy. However, the most biggest problem is still being unsolved, fake personality. Till today, there is no possible way the social network able to determine if the person is who they said they are. Except for artist, that is :D
Case being reported where a girl committed a suicide after a boy she knew through MySpace, spread rumours that she's a bad girl. But that's not the issue, that was the outcome. The real problem is that MySpace failed to identify that the boy doesn't even exists. It was a fake account created by a irresponsible adult.
Social network could be fun to users but trust me, it is such a heavy burden and head ache to providers.
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