Facebook Inc.: The concept of efficiency
Facebook Inc. presently boasts of more than a billion active users making it one of the most successful Social Media companies globally. The phenomenal growth of Facebook Inc. has been attributed to a business management model designed to incorporate both the medium-term and long-term objectives of the company (Haydon, 2013, p. 6). The optimal goal of each and every business oriented organization is to maximize on profit making initiatives. This can only be realized through efficient business management concepts formulated to progressively enhance an organization’s performance in a business environment that is erratic with regard to the competitive business environment. Business work flow management is critical towards ensuring that services and products supplied as well as the means for their production. This is indeed critical towards customer satisfaction, economic viability and marketing strategies which innovatively lock out competitors.
This essay seeks to evaluate the concept of efficiency as it has been applied by Facebook Inc. in its business management strategies more so with regard to three critical areas. These areas with regard to the efficiency concept include economic aspects, customer care services and marketing will be addressed in depth in this essay.
Economics as a concept of efficiency
Facebook Inc. as a social media organization embodies a novel generation of multinational organizations with a profound international impact with the ability to realize economic value via diverse and facilitative ecosystems (Deloitte, 2012, p. 1). As such, Facebook Inc. has been accredited with enabling other players in the larger global economy to be able to improve on economic value in the larger global economy.
Facebook Inc.’s economic impact has been felt globally through it international day to day operations (narrow effects) as well as through broad effects accumulated by third parties benefitting from the expansive Facebook Inc. operating environment. (Deloitte, 2012, p. 1) The narrow effects of Facebook Inc.’s economic impacts result from a combination of three fiscal and economic effects. These include the direct, induced and indirect effects.
Direct effects include the total amount in spending attributed to Facebook Inc. activities since its initial public offering in 2011. Facebook Inc.’s spending on its employee wage bill, tax revenues and the entire profits realized from the company’s activities world wide. Induced effects include the total