Question

Evaluate the essence of Innovation and Entrepreneurship at Facebook. How has Innovation and Entrepreneurship emerged and developed since the foundation of Facebook?

Answer 1

Face book is a leading IT based organization which is generating huge revenue and possess a good market share. When considering the organization face book the factors like innovation and entrepreneurship plays a dominant role. The CEO and other top management of the organization Face book possess the entrepreneurship characteristics which enables them to think in a different manner from its competitors. They take the risk factors in order to achieve profit or competitive advantage. They lead their team to be innovative and creative which adds more value to its entrepreneurship. They integrate creativity, innovation and the strategic business to make the entrepreneurship more successful.

Since the foundation of the face book, the organization has underwent with many innovative and entrepreneurship evolutions. Initially the face book was the communication network for the college peers which were then innovatively expanded to the huge social networking organization through the entrepreneurial thinking of its founders. The introduction of the newsfeed is the innovative design processes of FB with yield it more profit and market share. The collaboration of the FB with the Microsoft is the innovative and entrepreneurial approach of the CEO which led to the emergence of the organization. The emergence of the smart phones provided more opportunities for the FB as it made it compatible and accessible through smart phones.