F acebook
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Transcript of F acebook
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F ACEBOOK: ITS’ ABOUT THE MONEYGROUP 7
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INTRODUCTION
• Social Networking service launched in February 2004.
• Founded by Mark Zuckerberg with his college roommates and fellowHarvard University students
• Facebook Fast Facts:
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PROBLEM STATEMENT
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QUESTION OF CASE STUDY• 1) Perform an ethical analysis of Facebook.
What is the ethical dilemma presented by this case?
- Advertisers (engage with users based upon the information shared by users such as age, gender, location, education, work history or specific interests)
- Facebook wants the world to be more open and connected because it stands to make more money in that world.
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2) What is the relationship of privacy to Facebook’s business model?
- Facebook’s entire business model is based on aggregation and sharing user information
- Give people a free social media platform to use and in turn sell advertising.
- Facebook has massive capabilities to collect, store and analyze data.
- Facebook to sell very targeted advertising
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3) Describe the weaknesses of Facebook’s privacy policies and features. What management, organization, and technology factors have contributed to those weaknesses?- lack of communication between Facebook and
its users- Users were not aware that they were able to
control what information was being shared with external parties.
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a) Beacon advertising service:- Service served as a way to inform users of
purchases and activities of their friends outside of Facebook
- Problems: 1) Users themselves had to turn off the service to not have their information shared.
- 2) Even when users turned off the service it continued to share their information.
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b) News feed:- It was too invasive- Instead of only sharing status updates the
news feed shared additional information such as profile updates, adding new friends, and adding new applications.
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4) Will Facebook be able to have a successful business model without invading privacy? Explain your answer. Are there any measures Facebook could take to make this possible?• No, because Facebook as a social networking
website provides people with many kinds of advantages to communicate with others
• Business model intends to generate revenue and profits. As more and more people register the site, the brand image is increasing
• Facebook’s value and growth potential is determined by how effectively it can leverage the personal data is aggregated about its users to attract advertisers
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CONCLUSION
Advertising is the mainly revenue of Facebook. Therefore, in my opinion, we don’t think Facebook will be able to have a successful model without invading privacy.