Facebook Is The Largest And Most Popular Social Network

Facebook is the largest and most popular social network in the world, with over 1.55 billion monthly users. In an interview with Techcrunch magazine, Mark Zuckerberg said, â€Å"Facebook was not originally created to be a company. It was built to accomplish a social mission - to make the world more open and connected†. Founded in February of 2004, the company was initially referred to as â€Å"thefacebook† by its founders, Mark Zuckerberg, and his four Harvard classmates, Eduardo Saverin, Andrew McCollum, Chris Hughes, and Dustin Moskovitz. The idea behind Thefacebook originated from Zuckerberg’s website facesmash, which allowed Harvard students to rate student’s photos side by side; the photos were obtained by hacking into Harvard’s database. Zuckerberg was forced to take the website down after students complained to the University. However, Thefacebook was created for a different purpose; the site was used as a tool for students to select courses (students were able to choose classes based on the students who already registered). Within one month after its launch Thefacebook expanded its network to include Columbia, Yale, and Stanford, by May of 2005 its network expanded to include more than 800 colleges and universities, and three months later, it grew to include high schools. On September 20, 2005, the company dropped â€Å"the† from its name, and officially became Facebook. Facebook continued to grow through acquisitions; in August 2009 the company acquired FriendFeed, a real timeShow MoreRelatedSocial Media Marketing Proposal1399 Words   |  6 PagesSUMMARY This is a proposal for beginning Social Media Marketing at Arthur Hall Insurance. â€Å"Social Media Marketing is building your social network fans, followers, and connections using relevant and interesting content that is shared, allowing you to reach and engage more people and drive more business.† The three largest social networks, Facebook, Twitter and LinkedIn, are generating a lot of hype in the Marketing world as new ways of reaching and communicating with clients, prospects and anyoneRead MoreSocial Media And Its Impact On Society1269 Words   |  6 PagesSocial media is defined as websites and applications (app) that enable users to create and share content or to participate in social networking. (Google) Instagram, Facebook, Google+, LinkedIn, Pinterest, Twitter, Tumblr, YouTube, Snapchat are just a few of the thousands of social media sites that are used all over the world. Social media are computer mediated technologies that uses Web 2.0 internet based applicatio ns that allow the creating and sharing of ideas, thoughts, information, and formsRead MoreSuccess And Effectiveness Of Zuckerberg1588 Words   |  7 PagesFacebook’s launch, Mark Zuckerberg has become one of the most successful and influential people in the world. The social network started as a side project that Zuckerberg would work on in his dormitory room. Now, Facebook is more than merely a social network; it is a publicly traded technology powerhouse that has changed the way people around the globe communicates, and the company continues to innovate and expand their horizons. A world without Facebook is hard to fathom, and it doesn’t seem like theyRead MoreIs Facebook A Popular Free Social Networking? Essay1513 Words   |  7 Pagestechnologies and their unlimited diary improvement, so that led to an immediate fast development of social network services in the communication world. As result, almost everywhere and everybody even new born are now actors and pa rticipants onto the network world, and mostly its giant named face book. What is Facebook? According to the online dictionary WhatIs.com â€Å"Facebook is a popular free social networking website that allows registered users to create profiles, upload photos and video, send messagesRead MoreHow Big Will Facebook Become?856 Words   |  4 PagesHow Big Will Facebook Become? – James Gatz Introduction One and a half billion people used Facebook last month, more than the populations of North America and Africa combined. Only a handful of other websites in the world can even compete with those numbers; YouTube just broke through the one billion mark and WhatsApp is supposed to do the same soon. In this article I’m just going to skip over any sort of introduction to what Facebook is because, come on, did you read the first part of the paragraph;Read MoreSocial Media And The World Wide Web Essay1731 Words   |  7 Pagescontains infinite amounts of information and infinite networks. These so called networks are constantly being used to people’s advantage because it makes communication faster than the speed of light. Nowadays, as a worldwide culture we are saturated into different types of social media. These different types of social media, control our daily lives whether we like it or not. Social media is a world on its own, it is created by different networks in the W orld Wide Web. It allows us to do various tasksRead MoreSocial Networking in the Business World Essay1435 Words   |  6 Pagesof your competitors, and be on the lookout for new ways to get noticed. Social networking has emerged as one of the latest trends in business today, and utilizing the social media for sales, marketing, and recruiting can drive your business and help it flourish. Online social networks are becoming critical business tools, and with this technology at your fingertips, you must take advantage of the opportunity, and let the social media take some of the guesswork out of your business strategies. CommunicationRead MoreSocial Medi A Big Part Of The Internet Industry1431 Words   |  6 PagesSocial media Improvements have been made in technology causing the number of users on social media to rise every day. The use of social media depicts the relationships between people and how the communication progresses. As stated by Heidemann, Klier and Probst (2012) social media cites are online communities that help individuals to bond and create relationships with each other. Therefore, social networking sites help people find others with similar interests; it helps sustain and uphold theirRead MoreEssay about Social Media and Behavioral Effects1112 Words   |  5 Pagestwenty years. However, the most revolutionary of its technologies, social media, didn’t achieve mainstream popularity until about ten years ago. As a result of this new development, Facebook, Twitter, and similar services are becoming the most visited destinations on the internet. These websites allow users to quickly and easily share pictures, links, ideas and messages with other users; theoretically facilitating soci al interaction. But do these self-proclaimed social networking tools actually encourageRead MoreThe Dangers Of Social Network964 Words   |  4 PagesSocial network is an important invention in the world. Also, it is necessary for human’s daily life. The social network improve the people’s relationship, make people closer with their friends or family. There are more than millions of user using social network per day, and browsing the websites. For example, Facebook, Twitter, LinkedIn, Pinterest or Instagram (Top 15 Most Popular Social Networking Sites 2014). They are the most popular social networking sites in 2014. The users can share their life

International Retail Marketing McDonalds and KFC

Question: Write about theInternational Retail Marketing for McDonalds and KFC. Answer: Comparison of McDonalds and KFC Following is the comparison of McDonalds and KFC on the basis of various different afctors such as why they have chosen internationalization, what are the afctors that have forces them to go global. The second point of difference is the multinational strategy, which will have emphasis on the way of carrying out the operations. The third point of comparison is the expansion strategy, which shows that which expansion strategy is used by KFC and McDonalds for having overseas operations. The fourth point of comparison or difference is the culture and the society for having successful and sustainable business operations, it is essential to understand the societal valise and culture of the host nation. Therefore, this point shows the manner in which KFC and McDonalds have directed their operations to have communal and societal support. The last point of difference and comparison is regulation which shows the various rules, laws and regulation; the companies have to face in order to have su stained global operations. Following is the in-depth analysis of the comparison and differences between KFC and McDonalds on the basis of the above mentioned factors. Why Internationalization KFC In the year 1987, KFC entered into the markets of China by having first global presence in Beijing. The primary reason behind the internationalization of KFC was the saturated and concentrated domestic market. The company has made its recognized presence in the approximately all the regions of America. Thus, the company was restricted and was not able to have further expansion in the country (Wei and Cacho, 2000). The second primary reason behind the globalization and international expansion strategy of KFC was the extensive competition in the domestic market. there were number of strong and renowned brands which have captured the US market with an extensive rate. The companies which give tough competition to the sustainability of KFC were Wendy's, Burger King, McDonald, Subway, Pizza Hut etc. (Phillips, 2006). There was also vast presence of other fast food suppliers in America. All such fast food chains and other domestic suppliers pose a strong competitive threat on KFC and its cu stomer base. Another key reason for having global expansion in China was that the host country did not have such kind of fast food restaurants and suppliers (Ambler, et al., 2008). Therefore, it gave an opportunity to KFC to have its recognized and powerful presence in Beijing. Thus, because of these reasons, the company has taken use of internationalization so that it can further expand its business and can maintain as well as increase its customer base and sales in the overseas regions. McDonalds In the year 1948, McDonalds started its journey in San Bernardino, Calif and from that point of time, the organisation started its expansion and by the year 1960, the company has almost 1000 stores in the entire US. The forts international store of McDonalds was established in the year 1967 in British Columbia. The company started expanding itself globally because of the reason that the domestic market was completely tapped by the organisation (Vignali, 2001). The domestic market became highly saturated for McDonalds which restricts the further growth and development of the organisation. The second major cause of going global was the increasing competition in the markets of US. Because of the high demand for fast food, there were established numbers of local and renowned fast food suppliers (Senauer and Venturini, 2002). The big names in the fast food market which give striving competition to McDonalds were KFC, Subway, Pizza Hut, Burger King, etc. Because of increasing competition a nd market saturation, the company planned to have global expansion (Cavusgil, Ghauri and Agarwal, 2002). The company was attracted towards performing business operations in overseas regions because of the reasons that there were very less fats food companies in the overseas regions as well as the number of competitors were also very low in the international markets. These reasons fetched the attention of McDonalds to have global expansion so that there can be further growth and expansion of the business and the company can attain higher number of customers, sales and revenues (Veseth, 2002). Multinational Strategy KFC KFC have taken use of a multinational strategy for its operations in the global and overseas regions. The company adopted localization under which there has been made several modifications in the food products for targeting the local and domestic individuals of the foreign nations. The reason behind adopting this strategy is that there are diverse consumer groups that have diverse tastes and preferences; therefore it is very much essential to target those customers by catering their needs and preferences (Rugman and Verbeke, 2004). Thus, KFC keeps on making changes in its products in its various international expansions such as laobeijing chicken roll for targeting Chinese market, double fillets burger for targeting the markets of Japan and bulgogi taste chicken for targeting the customers of Korea. Its shows that there is high level of modifications for attracting the customers in diverse overseas regions. McDonalds McDonalds have taken use of regional and localization trade strategy for having global business operations. McDonalds have its presence in almost all the small regions by having multiple numbers of stores. For example, to attract the markets of India and Indian customers, the company has restricted the use of beef in the burgers. This shows its localization strategy of business for having global operations. The company has also recruited local managers so that they can more effectively cater the needs of the domestic customers of international markets. The companies have made changes in its burgers and other products like McKroket for attracting the customers of Netherlands, Matcha Oreo McFlurry for attracting the customers of Japan and Black and White Burger for attracting the customers of HongKong, China. Similar to these, there are various other additions in the menu of McDonalds (Okazaki, 2004). There are several benefits of localization because of which the organisation have cho sen this strategy such as there is high availability of skilled and competent workforce which can understand the tastes and preferences of the local customers. Other advantages of localization include growth of facilities, low cost of labour, economic gains, effect market analysis, etc. Expansion Strategy KFC For going global and to have successful entry in the overseas markets, KFC have taken use of franchising. This international strategy can be explained as the arrangement of the one association i.e. franchiser gives another association i.e. the franchisee the rights for taking use of the business name, trademark or the various business processes and systems for producing and marketing the services and goods as per the certain specifications. (Koh, Lee and Boo, 2009). There has been paid a franchisee fee to the franchisor in return for the continuous support for the products upgrading and promotions, continuous training to the workforce, techniques for promoting and running the business operations, for standard dcor and design, for the product testing and for fast brand recognition. There were numerous reasons because of which KFC have chosen franchising as its international market expansion strategy. It comprises of the lower cost labor as in China there is extensive number of populat ion and so that the need for employment. Thus, the Chinese markets offer low cost labour to KFC. Another reason for franchising agreement for KFC was innovation challenge as the market of China does not have much fast food chains like KFC, so it gives an initial benefit of innovative food products in the Chines markets (Combs, et al., 2011). McDonalds For going global and to have successful entry in the overseas markets, McDonalds have also taken use of franchising. The company takes use of franchising because the overseas regions support the business operation initiated by the means of franchising as a foreign direct investment rather than acquisitions or merger. There were several advantages of franchising which McDonalds attained in its global expansions such as to capture a fresh and new market. Earlier, except US there were very fewer countries which have string presence of such renowned fast food chains (Nyadzayo, Matanda, Ewing, 2011). Thus, it offers an opportunity to the company to have its brand recognition in such markets which are deprived of such things. Another thing associated with franchising of McDonald was easy and flexible support from the financial institutions and banks. As the franchising agreement can have flexible support from these organisations. Therefore, by franchising, McDonalds maintained its brand va lue in numerous nations across the globe (Gillis and Combs, 2009). Culture and society KFC As per the Hofstede's cultural dimensions theory, there are six main factors or dimensions of the culture of the society. From, the power distance dimension, China ranks very high i.e. almost at 80 which indicates that there is increased level of power distance among the subordinates and the superiors which shows that there are clearly established hierarchy in the society (McSweeney, 2002). From collectivist and individualistic dimension, KFC has its expansion in China where there is presence of collectivist culture. But in the home market of KFC i.e. United States there is more of individualistic culture. Therefore, KFC have to adopt a different culture so that it can have better and improved business operations in China. From masculinity and femininity dimension, the America and China ranked somewhat equally. China ranks 66 at this dimension which shows that the individuals are highly driven by achievements, competition and success. There is a tendency of keeping work before family and personal work. From uncertainty avoidance dimension, China ranks at 40, this shows that there is high acceptance of various ideas and thoughts (Hayton, George and Zahra, 2002). The society of China imposes huge rules and regulations but then also according to the situations, they are ready to have changes and modifications in the cultures, rules and regulations. Last i.e. from the long term or short term orientation, China ranks at 118 and it demonstrates that there is extremely long term orientation. There is a lot of time consumed in negotiation processes. The focus is over the long term results only (Stone, 2012). McDonalds To attract the collectivist culture of China, McDonalds have offered several combo meals in the restaurants so that there can be the interests of the societies and the individuals can be fetched. McDonalds also take use of appropriate hierarchy in its restaurants where there is clear lines of power distance is there among the superior and the subordinates (Michailova and Hutchings, 2006). The company takes use of a mix approach i.e. little standardization and localization so that the uncertainties can be avoided of diverse tastes and preferences. As there is masculine society in China, so the company offers effective and vast opportunities of employment to the Chinese people to have jobs in restaurants. People are more and highly concerned with the success and accomplishments, thus there are effective operations of McDonalds taking place in China (Pan and Zhang, 2004). Regulation KFC In international expansion through franchising, KFC had to face a number of FDI regulation and other related legal laws and rules related to labour laws, taxes, business regulation, ownership regulation, traffic and transport regulation etc. China has always been supporting towards the foreign direct investments (Hoffman and Preble, 2004). Therefore, the entrance of KFC in Chinese market was beneficial. There are also establishment of special economic zones in China, which are governed by several policies and regulations. Therefore, KFC regulate according to the laws and business regulations governing in China (Lee, 2003). McDonalds The operations of McDonalds in the international markets such as in China are governed by CCFA i.e. China Chain Store and Franchise Association. When McDonalds entered Chinese markets, it was initially functioned as company-owned and operated and later on as a franchisee. There were certain intellectual property laws which were to be followed by the company in order to have sustainable and successful business operations. In 1995, there were also Provisional Regulations upon the guidance for the foreign investments. Therefore, McDonalds also used to follow all those guidance and policies under the franchising agreement of McDonalds in China (Alon, 2006). References Alon, I. (2006). Market conditions favoring master international franchising.Multinational Business Review,14(2), 67-82. Ambler, T., Witzel, M., Xi, C., Zou, D. (2008).Doing business in China. Routledge. Cavusgil, S. T., Ghauri, P. N., Agarwal, M. R. (2002).Doing business in emerging markets: Entry and negotiation strategies. Sage. Combs, J. G., Ketchen Jr, D. J., Shook, C. L., Short, J. C. (2011). Antecedents and consequences of franchising: Past accomplishments and future challenges.Journal of Management,37(1), 99-126. Fenwick, C., Howe, J., Marshall, S. D., Landau, I. (2007). Labour and labour-related laws in micro and small enterprises: Innovative regulatory approaches. Gillis, W. E., Combs, J. G. (2009). Franchisor strategy and firm performance: Making the most of strategic resource investments.Business Horizons,52(6), 553-561. Hayton, J. C., George, G., Zahra, S. A. (2002). National culture and entrepreneurship: A review of behavioral research.Entrepreneurship theory and practice,26(4), 33. Hoffman, R. C., Preble, J. F. (2004). Global franchising: Current status and future challenges.Journal of Services Marketing,18(2), 101-113. Koh, Y., Lee, S., Boo, S. (2009). Does franchising help restaurant firm value?.International Journal of Hospitality Management,28(2), 289-296. Lee, M. (2003). Franchising in China: Legal Challenges When First Entering the Chinese Market.Am. U. Int'l L. Rev.,19, 949. McSweeney, B. (2002). Hofstedes model of national cultural differences and their consequences: A triumph of faith-a failure of analysis.Human relations,55(1), 89-118. Michailova, S., Hutchings, K. (2006). National cultural influences on knowledge sharing: A comparison of China and Russia.Journal of Management Studies,43(3), 383-405. Nyadzayo, M. W., Matanda, M. J., Ewing, M. T. (2011). Brand relationships and brand equity in franchising.Industrial Marketing Management,40(7), 1103-1115. Okazaki, S. (2004). Do multinationals standardise or localise? The cross-cultural dimensionality of product-based web sites.Internet Research,14(1), 81-94. Pan, F., Zhang, Z. (2004). Cross-cultural challenges when doing business in China.Singapore Management Review,26(1), 81. Phillips, L. (2006). Food and globalization.Annu. Rev. Anthropol.,35, 37-57. Rugman, A. M., Verbeke, A. (2004). A perspective on regional and global strategies of multinational enterprises.Journal of international business studies,35(1), 3-18. Senauer, B., Venturini, L. (2005).The globalization of food systems: A conceptual framework and empirical patterns(Vol. 5, No. 1). Food Industry Center, University of Minnesota. Stone, A., (2012). Hofstedes 5 Cultural Dimensions for China, Retrieved on: 30th April, 2017, Retrieved from: https://alexnstone.wordpress.com/2012/01/14/hofstedes-5-cultural-dimensions-for-china/ Veseth, M. (2005).Globaloney: unraveling the myths of globalization. Rowman Littlefield. Vignali, C. (2001). McDonalds:think global, act localthe marketing mix.British Food Journal,103(2), 97-111. Wei, A., Cacho, J. (2000). Competition among foreign and Chinese agro-food enterprises in the process of globalization.The International Food and Agribusiness Management Review,2(3), 437-451.