Mission and Vision of Facebook

Strategic management
5/9/2019
Facebook

Strategic management 1
Contents
Mission and Vision of Facebook.....................................................................................................2
Mission........................................................................................................................................2
Vision...........................................................................................................................................2
Porter’s Five Forces Model of Facebook.........................................................................................2
Rivalry among competing firms..................................................................................................2
Bargaining power of suppliers.....................................................................................................3
Bargaining power of customers...................................................................................................3
Potential entry of new competitors..............................................................................................3
Potential development of substitute products or services............................................................4
Corporate level of Facebook............................................................................................................4
Integration strategy......................................................................................................................4
Diversification strategy................................................................................................................4
Acquisition...................................................................................................................................5
References........................................................................................................................................6

Strategic management 2
Mission and Vision of Facebook
Mission
Facebook mission statement is “to give people the power to share and make the world more open
and connected”. This mission of the company reflects that they focuses on forming its social
networking sites which is an essential part of the community development (Smithson, 2019). The
mission of the company includes the major components that include empowering people, enable
building the community and connecting the world. This means that people can make use of the
social network in order to facilitate the communication as well as sharing the data among the
members of the communities.
Vision
Facebook Company does not have any explicit vision statement, this is clear as Zuckerberg
specific the three items that shows desire towards the company. This include staying connected
with the friends as well as family, to identify what is going on across the world, share and
express matters to the individual (Smithson, 2019).
Porter’s Five Forces Model of Facebook
Rivalry among competing firms
Facebook Company has intense competition in the market, as there is presence of hundreds of
online social media websites. The competitors of the company include Instagram, Snapchat,
LinkedIn, Google+, and Twitter. Snapchat with LinkedIn are not considered as much popular
when it comes to the social media usage. LinkedIn is gaining platform time as well as users from