Audit

Astonishingly in the list of stolen idea which become more successful by bringing a dramatic changes to entire world such as Apple by Steve Jobs and Microsoft by Bill Gates, on the line Facebook regarded as one of the most successful social networking site which turn into global phenomena in very short period. The intention of this report is to analyze and determine whether Facebook, Inc continues strong in the future as they are as at present. The prime objective is to analyze the current business strategy (internally and externally) implement by Facebook,Inc and recommend a future business strategy or strategic business unit (SBU).

Facebook initially called “thefacebook” was founded by Mark Zuckerberg (CEO of Facebook Inc.) in February 2004 and become incorporated as Facebook Inc. in mid of 2004 (1). It’s instigated as a college networking site and become a nation college networking website within months. As that time this social network only accessible within English speaking countries but currently this site in usage of over 80 countries(2) and also available above 70 different language(3). Facebook presently has 1.01 billion users in the site each month(4) (Appendix 1) Facebook Inc became public listed company in May 2012 on the NASDAQ with share trading at $ 38.23(5).

Facebook is a large social network has become a fast and convenient mode for users to contact, upload photo, sharing their interest or ideas, and activities of their day-to-day life within their individual network. Parts from that, business use the power of Facebook to stay competitive. Facebook also allows developers to build social applications and offer solution that allow advertisers and marketers to engage with its users. Facebook direct competitors are known as Google, Twitter, Microsoft and AOL. Facebook primary income stream or SBU is advertisement (6). This may clarify as a weakness because Facebook is too depending on advertisement only.