Abstract
Facebook’s Financial Growth and Performance – The comparison is based on official financial statements filed with the U.S. Securities and Exchange Commission (SEC) through the Electronic Data Gathering, Analysis, and Retrieval system (EDGAR) (about 10,000 largest publicly traded companies). The comparison is performed using the eleven key financial ratios. Company’s financial ratios are compared with the median values of ratios of all companies and of companies within the same industry, and also with the quartiles of those ratios. Social media originated as a way to interact with friends and family but was later adopted by businesses which wanted to take advantage of a popular new communication method to reach out to customers.
Social Media Definition
Social media are interactive computer-mediated technologies that facilitate the creation or sharing of information, ideas, career interests and other forms of expression via virtual communities and networks. By design, social media is internet based and gives users quick electronic communication of content. Social media originated as a way to interact with friends and family but was later adopted by businesses which wanted to take advantage of a popular new communication method to reach out to customers.
Common Features of Social Media
- Social media are interactive Web 2.0 Internet-based applications.
- User-generated content such as text posts or comments, digital photos or videos, and data generated through all online interactions, is the lifeblood of social media.
- Users create service-specific profiles for the website or app that are designed and maintained by the social media organization.
- Social media facilitate the development of online social networks by connecting a user’s profile with those of other individuals or groups.
Types of Social Media
- Social networks – Connect with people. Examples: Facebook, Twitter, LinkedIn.
- Media sharing networks – Share photos, videos, and other media. Examples: Instagram, Snapchat, YouTube.
- Discussion forums – Share news and ideas. Examples: reddit, Quora, Digg.
- Bookmarking and content curation networks – Discover, save, and share new content. Examples: Pinterest, Flipboard.
- Consumer review networks – Find and review businesses. Examples: Yelp, Zomato, TripAdvisor
- Blogging and publishing networks – Publish content online. Examples: WordPress, Tumblr, Medium
- Sharing economy networks – Trade goods and services. Examples: Airbnb, Uber.
Merits of Social Media
- You reach large audiences.
- You have a direct connection with your audience.
- This opens many opportunities for your company to connect with valuable leads at no cost.
- You have access to paid advertising services.
- You build your brand.
- You can evaluate your performance.
- You can create viral.
- Information spreads fast.
Demerits of Social Media
- You can receive negative feedback.
- You open up the potential for embarrassment.
- You must spend a lot of time on your campaigns.
- You have to wait to see results.
- Privacy problems.
- Lacks emotional connection.
Impacts of Social Media
With the use of platforms like Facebook, Twitter and Instagram, how people socialise has been greatly revolutionised. It has made it easy to connect to our family members, friends and relatives on a real-time basis. Families, friends, relatives and businesses have the opportunity to share skills and improve on different proficiencies. Additionally, people get to make and meet new friends.
Businesses have greatly been impacted by social media – from marketing to interacting with customers on a timely basis. The online platforms are a less expensive way for businesses to advertise their offerings on a real-time basis and to attract more customers. Through interaction and feedbacks by businesses to their customers, they can understand the market quickly and adopt new strategies, as well as conform to the dynamic customer’s tastes and demands.
Social media has impacted politics in many ways. It is the medium that gives the easiest access to political and other news. These online platforms also allow people to air out their political grievances to their political leaders and demand for actions to be taken. It’s also a medium where mass political rallies are formed, campaigns are carried out and even political unrests are most felt.
Social media has impacted job recruitments significantly. The majority of companies make their hiring decisions based on one’s social portfolio. Recruiters also use online networks to post job vacancies through which they get their ideal candidates. Many professions and skills have been built and learned through social media. There is a massive increase in online learning where one can easily learn a skill and build a strong profession around it. The existence of social media has led to an increase in the number of people undertaking distance learning.
Facebook’s economic effect in India’s GDP
The report had three broad categories to measure Facebook effect across macro regions, including India. The report tallies up Facebook’s impact on India, it is estimated $4 billion and 335,000 jobs have been benefited. With over 112 million users, India is the second largest market for Facebook.
Marketing effects
The economic impact of Facebook for business that use it as a marketing platform to connect with consumers and build brand value. The report considers three sources of effects for this impact: Pages, Targeted advertising and referrals. The report estimated the marketing effect category generating 29,000 jobs with an impact of $1.4 billion in India’s economy.
Platform effects
The impact in developer app economy derived from third party products and services built on top of Facebook platform. The app economy creates impact through revenues enabled by the Facebook platform, in addition to traffic from social plugins. The report indicates 40,000 jobs have been impacted in India with economic value of half a billion dollar.
Connectivity effects
The impact created through the sale of mobile devices and internet connectivity. Facebook has developed partnerships with local operators and optimized its product for lower speed and smaller data packages. Interent.org app allows people to browse health, education and other information services. The report estimates about 165,000 indirect jobs were generated and had an impact of $2.1 billion.
Scope of Study
- This research gives the brief understanding of the financial performance of Facebook and how it operates around the globe.
- Further, it enhances the knowledge of income of Facebook through secondary data collected from various websites from the year 2010-2020.
Components of a Project Report
A project report varies according to the MBA final year project course at top colleges, depending on the consequences and the requirements of the concerned project. But broadly, a project covers the following components:
- Title page
- Table of contents
- Introduction
- Background of the project
- Project objectives
- Methodology
- Results
- Discussion and Analysis
- Conclusion
- Bibliography or references
- Appendices
Project Report Pages : 80
Can be used in : Finance Final Year Project
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