University Report: Financial Implications of Using Facebook

This report delves into the financial implications of integrating Facebook into business operations. It examines how Facebook facilitates communication and explores its role in international money transfers, highlighting both the financial benefits and challenges. The report discusses Facebook's strate...Read More

Running Head: FINANCIAL IMPLICATIONS OF FACEBOOK
Financial Implications of Using Facebook within the business organization as
medium of Communication
Name of the Student:
Name of the University:
Author note:

1FINANCIAL IMPLICATIONS OF FACEBOOK
Financial Benefits
The previous assignment dealt with the communication system that took place in
the social network system of Facebook. In the recent years, Facebook has become one
of the most crucial tools of the integrated part of the communication network. It allows
its users to communicate effectively through the information that has resulted in the
exchange of the different ideas and the sharing of the knowledge in the most effective
manner.
The previous report has also aimed to display and specifically highlight the
implications of the internal communication network that will be used as the basic tool for
enhancing the performance of any organization. In the recent world, therefore Facebook
has been considered the most effective and the popular business tool for the online
collaboration and the exchange of the most important information among the people of
this globe (DeVito,2017).
In this assignment we will focus our discussion on the financial inclusion of
Facebook. Recently Facebook has discussed provisions for the potential form of the
international money transfers both via online or via the usage of the smartphones. In the
Azimo case, the social networking site of Facebook has offered to pay the company a
total sum of the 10 million dollars for the purpose of the recruitment of their cofounders
along with the other directors of the business development agencies that is in
accordance to the people who are almost familiar to the above situations.

2FINANCIAL IMPLICATIONS OF FACEBOOK
Financial Implications
A research and a detailed analysis of the migrant remittances is the basic reason
of the part of the push provided by the communication network of Facebook in its
emerging and the recent business markets (Taskinsoy,2019).A close insight into the
company strategy of Facebook highlights the fact that the communication network of
Facebook wants to become a utility approach in the context of the recent developing
world and in the context of the remittances received as a gateway drug to the financial
inclusion of the current company of Facebook. Outside United States, Facebook has its
largest market share in India where it has already passed 100 million users or more
making it the largest market of Facebook outside the territory of the United States (Ji,
et.al 2017).
However the financial inclusion of Facebook also includes several challenges like
the lack of trust of the various people due to issue like the data mining practices by the
social media network in order to boost the advertisement media on their respective sites
.In this context we can consider the money transfer project that was highlighted by the
Vice President of Facebook Ryan that has signaled around the strategic shift for the
company which will make the maximum money from the chosen company for the
advertising patterns.
Obtaining a money authorization in any chosen nation by Facebook will require
them to hold on the capital that is worth of the 350,000 euros in order to segregate the
funds that will be equivalent to the amount of money as per the report given by the legal
experts. Facebook has recently come up with the authorized forms of the money

3FINANCIAL IMPLICATIONS OF FACEBOOK
transfer that will allow this platform to charge their users for the various in app
purchases (Lee,Hosanagar & Nair, 2018).
References
DeVito, M. A. (2017). From editors to algorithms: A values-based approach to
understanding story selection in the Facebook news feed. Digital Journalism,
5(6), 753-773.
https://www.tandfonline.com/doi/abs/10.1080/21670811.2016.1178592
Lee, D., Hosanagar, K., & Nair, H. S. (2018). Advertising content and consumer
engagement on social media: Evidence from Facebook. Management Science,
64(11), 5105-5131.
https://pubsonline.informs.org/doi/abs/10.1287/mnsc.2017.2902
QQ Y. G., Li, C., North, M., & Liu, J. (2017). Staking reputation on stakeholders: How
does stakeholders’ Facebook engagement help or ruin a company’s reputation?.
Public Relations Review, 43(1), 201-210.
https://scholars.fhsu.edu/jiibr/vol6/iss1/5/
Taskinsoy, J. (2019). This Time Is Different: Facebook’s Libra Can Improve Both
Financial Inclusion and Global Financial Stability as a Viable Alternative Currency
to the US Dollar. Available at SSRN 3434493.
https://papers.ssrn.com/sol3/papers.cfm?abstract_id=3434493

4FINANCIAL IMPLICATIONS OF FACEBOOK