Facebook Vs. Competitors Arguably, Facebook

While Facebook attempted to address some of these issues by ensuring that the user was able to adjust his privacy settings in order to restrict third party access if that was necessary, the company continues to have privacy issues even nowadays. With the continuous development of Facebook applications, these have become increasingly vulnerable and more difficult to control when it comes to the information that third parties are able to obtain about a certain user ID and individual (Steel, 2010).

It remains clear that privacy continues to remain an issue with the business model at Facebook, most importantly because sharing information on the users and allowing companies to use these in their marketing and advertising campaigns is such an intrinsic element in the business model that Facebook is working on. With that in mind, the challenge for Facebook is to address the privacy issues that potentially arise while remaining both profitable and legal.

The Road ahead

The partnership that Facebook struck with Microsoft for the exclusive use of Bing in its pages gives an interesting perspective on the road ahead for Facebook. It seems clear that the company is planning to complement its core social networking part of the business model with elements such as search and different applications that can add value to the model.

With that in mind, Facebook will likely continue to develop new applications and instruments that will facilitate the interaction between consumers and suppliers, notably between individual users and corporate users in its pages, while ensuring that the advertising and marketing funds that are used will increase Facebooks revenues.

Bibliography

1. Lee, Ed. February 2010. Facebooks Business Strategy. On the Internet at http://edlee.ca/2010/02/19/facebooks-business-strategy/. Last retrieved on October 29, 2010

2. Facebook Press Room. On the Internet at http://www.facebook.com/press/info.php?statistics. Last retrieved on October 29, 2010

3. Gaudin, Sharon. October 2010. Facebook offers new tools, changing way users share information. Computerworld. On the Internet at http://www.computerworld.com/s/article/9189725/Facebook_offers_new_tools_changing_way_users_share_information. Last retrieved on October 29, 2010

4. Hempel, Jessi. April 2010. Facebook vs. Google: Game On. Fortune. On the Internet at http://tech.fortune.cnn.com/2010/04/21/facebook-vs.-google-game-on/. Last retrieved on October 29, 2010

5. Hall, Starr. April 2010. Facebook vs. Google. Business Insider. On the Internet at http://www.businessinsider.com/facebook-or-google-2010-4. Last retrieved on October 30, 2010

6. Vercillo, Kathryn. MySpace vs. Facebook.. On the Internet at http://hubpages.com/hub/MySpace-vs.-Facebook. Last retrieved on October 30, 2010

7. Steel, Emily; Fowler, Geofrey. October 2010. Facebook in Privacy Breach. The Wall Street Journal. On the Internet at http://online.wsj.com/article/SB10001424052702304772804575558484075236968.html. Last retrieved on October 30, 2010.

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