Facebook: Can they sustain their competitive advantage?
Is Facebook’s competitive advantage sustainable?
Facebook’s competitive advantage is dependent on how well they adapt to their ever-growing pool of competitors. Twitter is rising up as the most powerful social networking company with more and more users joining every day. It is becoming a household name alongside Facebook, Myspace and linkedin, all three companies share a similar vision of “the free flow of information.” In order for Facebook to sustain its competitive advantage, it needs to keep its users happy by continuing to improve the website, while adding more applications in order to keep their users loyal and have easy accessibility to the network. Facebook currently has more then 500 million active users that have invested a lot of time and energy into building their friend and client networks. For some people, having these huge networks of users translates into money and marketing opportunities. Because of this, it would take a big problem for people to start dropping Facebook. Users can access Facebook on their Smartphone’s, i-pods, i-pads and other devices. Facebook has been adapting to all new technology to sustain its competitive advantage and be known as the top social networking website. Facebook’s customers expect privacy. They want to know that their profiles and private information are safe from hackers, stalkers, and others that are looking to exploit their personal data. It is important for Facebook to uphold its practice of keeping users’ information safe and accessible to people according to their account settings. Users trust Facebook with their private information and this is mainly due to how long Facebook has been around providing user support and added security as necessary. They also have a page dedicated to user security with sections dedicated to the cyber security of educators, law enforcement, parents, and teens. This customized security provides peace of mind to its users and Facebook is always scouring the site for Malware, Viruses, and other potential threats to account security.
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