Facebook s Strategies For Future Growth Essay - 905 Words

Annexure Introduction Within the social media industry, Facebook quickly rose and surpassed its competitors through a series of innovative strategies. However, Facebook is plagued by privacy concerns in sharing of user personal data. Consequently, Facebook must takes steps to regain and maintain confidence of its stakeholders. Moreover, various strategies must be employed for Facebook to remain a leader in this industry. Accordingly, the following annexures detail Facebook’s strategies for initial growth, it’s privacy challenges, improvements for stakeholder confidence, and strategies for future growth. Annex 1 - Innovation Through a combination of resource and action innovation strategies, in only seven years Facebook became a colossus in the social networking venue and quickly moved through the produce life cycle stages to maturity within the U.S. market (Barnett Han, 2011; Schmitz, 2012). 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