Facebook Strategy

Facebook hasn't achieved its’ position as the number 1 social networking site by being conservative. They seem to have a very effective general business strategy. So what is a business strategy and why is it so important? We believe that a good working definition is, a business strategy specifies the way a firm competes in an industry. “Masterful strategies come from doing things differently from competitors where it counts—out-innovating them, being more efficient, being more imaginative, adapting faster—rather than running with the herd.” A “good” strategy is so important because it is a roadmap to a companies overall end vision. To our group the three most important aspects of Facebook’s general strategy are the company’s product, partnerships, and the executive team leading the company.
Facebook’s strategy was obviously a big priority of the company. You can see this by first looking at the people behind the company. All of the executives of this company come with lots of knowledge and experience in the technology world. The founder and co-founders of Facebook all graduated from Harvard University. The COO Sheryl Sandberg was Vice President of Global Online Sales and Operations for Google. David Ebersman the CFO previously worked for Genentech Inc., one of the leading companies in biotechnology. Not only are the executives and founders well qualified, but the talent continues throughout the corporate ladder at Facebook.
“Instead of being hired on to a specific team, engineers at Facebook spend their first six weeks in Bootcamp, an immersive, cross-functional orientation program. Between mentoring sessions and shipping code to the live site, engineers are exposed to different teams, learn company culture, and have the opportunity to solve problems from across the organization. Every new engineer at Facebook has access to the code base from day one and ships code their first week.”
We believe that this kind of recruitment and training is strategic in...