Entrepreneurship Report: Mark Zuckerberg's Success and Strategies

This report provides an in-depth analysis of Mark Zuckerberg's entrepreneurial journey, highlighting his key traits, vision, and strategies that led to the creation and success of Facebook. It explores his background, from developing early messaging programs to recognizing the opportunity to connect people on a global scale. The report discusses Zuckerberg's entrepreneurial traits, such as passion, clear vision, and belief in teamwork, and how these contributed to his success. It also examines the opportunity recognition and idea development process that led to Facebook's creation, emphasizing the importance of criticism and testing. Furthermore, the report identifies Facebook's competitive advantages, including its economies of scale, continuous innovation, and strong brand identity. Finally, it offers recommendations for Zuckerberg to expand his business into e-commerce and online fitness training, leveraging artificial intelligence to foster innovation. This report is a valuable resource for understanding the dynamics of entrepreneurship and the factors that contribute to the success of a visionary leader like Mark Zuckerberg.

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Introduction
At present, entrepreneurship is considered as lifeline of the dynamic business because it offers an
opportunity to individuals to bring innovation and creativity in the world. Entrepreneurship is a
process which helps in exploring important opportunity present in the world and tries to convert
those opportunities into reality through an entrepreneur's passion and vision (Stuetzer et al.,
2018). Entrepreneurs are also considered as one of the biggest sources of employment
generations which offer jobs to millions of individual on the global platform. These individuals
have some unique traits which make them different from other individuals such a passion, clear
vision and are firmly able to align their vision with their future goal with the help of innovative
technology.
Background of the entrepreneur
Mark Zuckerberg is considered as one of the youngest entrepreneurs who were able to gain its
position in Forbes billions list. Mark Zuckerberg is known as the co-founder of one of the
biggest social-networking company Facebook from his college room while studying at Harvard
University. Mark Zuckerberg was born in New York in 1984 in a well-educated family. Mark
Zuckerberg father used to run his dental clinic attached to their home while his mother was a
psychiatrist (Biography, 2017). Mark Zuckerberg is having four siblings and was raised near the
village of Dobbs ferry. From the earlier age, Mark Zuckerberg was very much interested in
computers. At the age of 12, he used to create a messaging program which he named as Zucknet.
His father was very confident in him that he used to use that program in his clinic in order to get
information about the arrival of the patient in the clinic without yelling. His family used this
application in their home to communicate with each other just for fun (Tarver, 2018). In addition,
with the help of his friend he has created some computer-based games for the purpose of fun by
taking advantage of their artistic approach. This was the first step towards Facebook formation
and then Mark Zuckerberg left his college to focus on his new website in order to connect the
billions of people on the global level.
Entrepreneurial traits
Mark Zuckerberg has some traits which make him very special from common individuals. One
of the important trait is he is very passionate about his work and tries to connect his ambition
with his passion. This trait helped him to explore the vacuum of connection within the society
and offered him an opportunity to create something innovative with the help of technology.
Another important trait was a clear vision in his mind to build a network in the form to connect
the world on the social platform (Snyder, 2017). By having this clear mindset, he was able to
build an empire which was truly based on his purpose in the form of Facebook. Facebook was
not created to become a company it was created for increasing connection between individuals so
that they can be brought closer to each other. At present, Facebook has become one of the major
platforms in order to keep people connected with each other even living far away. Another
important trait of Mark Zuckerberg believed in other which helps him to become one of the
effective corporate youth leaders on the global platform. Mark Zuckerberg believes that working
together help in bringing down a very complex problem which is not possible while working

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alone because hundred brains are better than one brain (Staff, 2018). In addition, team building is
one of the key reason for success in present business world which is only possible through trust
and believe on each other's works. Finding the right balance of people is essential for both
personal and professional life. Another trait of Mark Zuckerberg was aligning vision with
passion. He was able to align his passion with his vision and has offered clear direction to his
team member which has made their work easier.
Opportunity recognition and idea development process
Opportunity recognition is mainly considered a mean of finding new potential in the form of a
new business or venture. In the earlier time of his age, Mark Zuckerberg was able to observe a
gap between the societies in which he was living. Similar kind of experience he has gone through
his school and college time. This vacuum in the society triggered his passion towards bringing
something innovative to connect the people with each other. In addition, he also found that every
person is not able to express his feeling or emotion on the global platform and remains cut off
from rest of the world (Ploum et al., 2018). This opportunity offers Mark Zuckerberg an idea to
offer a social platform which can bring positive changes in the world by offering everyone a
voice which will help the communities to come together for the social cause. Filling this gap
with the help of network connection played important role in making understand that believe is
above money and it helps in bringing positive changes in the society. In idea development
process, Mark Zuckerberg played a very smart game. He focused on building conviction which
helped them to find out negatives of their idea which otherwise they were not able to find out
(Spiegler and Halberstadt, 2018). Hence, one of the first steps was allowing criticism because it
aids to offer better solution to the problem. Another step is no guesses just test the idea. It is
always better to focus on testing instead of guessing because it helps in understanding the simple
logic of what works and what not while in guessing everything is on the positive side. Third step
is to frame the idea into an innovative platform so that it has the necessary potential to attract
mass of people towards it.
Competitive advantage
Facebook was very successful to create one of the most powerful social networking brand on the
global level. In addition, this company was very innovative in transforming some code and
program into one of the biggest social platform which has offered a voice to the individuals
which used to remain cut from the community (Setiyaningrum and Peranginangin, 2018). One of
the biggest competitive advantages of Facebook is that it is operating on economies of scale with
the help of innovative technology which is helping them to provide their services in low price as
compared to other social media. Facebook is continuously working on bringing new changes in
the form of innovative features which keep them ahead of their competitors. Facebook is able to
build a strong brand identity in the social media business which has helped them to maintain
their unique image in the business market (Biglaiser, Calvano and Crémer, 2019). There strong
network connection attracts other companies to take service of this company for promoting their
products as compared to other social media companies. One of the major competitive advantages
of Facebook is that it is able to maintain a high rate of engagement of people on the global world
in the form of post which is either liked or shared. This kind of process is also considered as one

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of the mode of social communication which helps in keeping people engage with each other
(Mariani et al., 2018). Global engagement of Facebook has made this social media more famous
as compared to other companies operating in the business market. This capability of Facebook is
able to encourage more customers as compared to others.
Recommendations
At present, e-commerce and e-business have become one of the most profitable sectors of the
business community and is continuously growing very fast. In this situation, one of the best
opportunities for Mark Zuckerberg is to enter into the e-commerce business with the help of their
innovative technology instead of acting as promotion media for these e-commerce businesses
(Hertz, 2018). Engagement level of Facebook will help Mark Zuckerberg to develop a strong
relationship with their potential customers which are already in engagement mode with the
company. This will help Mark Zuckerberg to expand his business beyond the social media
network and try to generate new thinking in the business world. In addition, at present Mark
Zuckerberg must focus on introducing artificial intelligence in their business operation which
will help them in exchanging idea more faster through minds which will create a new world of
innovation and creativity (Jarrahi, 2018). Mark Zuckerberg can take advantage of his
engagement rate and can also spread his business in online fitness training program in which
they can put service charge from their customer in low rates as compared to other online fitness
programs available in the business market.
Conclusion
Due to globalization, every business is operating in dynamic mode and it has become very
difficult for the companies to remain sustainable for a long time. In this situation, entrepreneur
emerged as one of the best options for the business market because these people are able to
understand the gaps within the business environment and are able to formulate their strategy
which helps them to fill those gaps in the business market. One of the best examples is Mark
Zuckerberg which has explored the gap between the connections of the community and has built
one of the biggest social networking platforms for the world in the form of Facebook in order to
connect billions of the people. His passion helped him to bring his dream into reality with the
help of his passion towards technology.

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