Subject category:
Strategy and General Management
Published by:
Amity Research Centers
Length: 15 pages
Data source: Published sources
Abstract
Facebook, the leading social media giant, founded by Mark Zuckerberg (Zuckerberg) had redefined the means of social communication through its unique offerings. The iconic social media brand also developed technologies such as social graph and digital mapping of social connections to facilitate the sharing of information efficiently among its customers. It was one of the most valuable social networking sites in the world with a market capitalisation of USD533.68 billion as of March 7th 2018. However, in the beginning of 2018, Zuckerberg posted in his Facebook account that the social media giant was standing at crossroads and required attention. He cited hate speech, fake news, hacking, abuse, advertising issues etc as the key factors behind the bad reputation of the company. Zuckerberg was also facing tremendous pressure from the latest Cambridge Analytica data scandal. To handle these systematic issues, in 2018, Zuckerberg announced his annual personal challenge to fix the fundamental flaws in Facebook. However, critics were sceptical about the outcome of the corrective measures and feared that it might only be cosmetic improvements to generate goodwill for the company whilst keeping its business strong. With this background, analysts pondered whether Zuckerberg would be able fix Facebook's issues to bring about a lasting change and regain the lost trust among the consumers.
Subject category:
Strategy and General Management
Published by:
Amity Research Centers
Length: 6 pages
Data source: Published sources
About
Abstract
Facebook, the leading social media giant, founded by Mark Zuckerberg (Zuckerberg) had redefined the means of social communication through its unique offerings. The iconic social media brand also developed technologies such as social graph and digital mapping of social connections to facilitate the sharing of information efficiently among its customers. It was one of the most valuable social networking sites in the world with a market capitalisation of USD533.68 billion as of March 7th 2018. However, in the beginning of 2018, Zuckerberg posted in his Facebook account that the social media giant was standing at crossroads and required attention. He cited hate speech, fake news, hacking, abuse, advertising issues etc as the key factors behind the bad reputation of the company. Zuckerberg was also facing tremendous pressure from the latest Cambridge Analytica data scandal. To handle these systematic issues, in 2018, Zuckerberg announced his annual personal challenge to fix the fundamental flaws in Facebook. However, critics were sceptical about the outcome of the corrective measures and feared that it might only be cosmetic improvements to generate goodwill for the company whilst keeping its business strong. With this background, analysts pondered whether Zuckerberg would be able fix Facebook's issues to bring about a lasting change and regain the lost trust among the consumers.
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Subject category:
Strategy and General Management
Published by:
Amity Research Centers
Length: 6 pages
Data source: Published sources