Question 1 (Film Summary):
The Social Network showcases the invention and development of Facebook. Mark Zuckerberg drunkenly starts a website (FaceMash), comparing and rating girls. He is punished with 6 months of academic probation, after crashing Harvard’s network due to FaceMash becoming so popular overnight. He is then recruited by the Winklevoss twins and their business partner, Divya Narendra, as a programmer on their site, Harvard Connection. Mark then gets the idea for ‘Thefacebook’ and approaches Eduardo Saverin, his best friend, for money to help start the site. Thefacebook quickly gains popularity amongst the students and after it expands to England, the Winklevoss brothers decide to sue Mark for Intellectual Property Theft, as they …show more content…
He is a passionate visionary because he believes in himself and his idea. His idea was creative and changed the way social networking was viewed. He sacrificed his time and effort and a lot of his school days in order to make the website a success. He persevered and stayed committed to the project, he worked hard until he was happy with the outcome and even then, he continued to work and perfect it.
I believe that in the film, Mark showed great entrepreneurial skills but that he also lacked in certain areas. He was not a great leader and he was also not independent as he was incapable of making his own business decisions. He relied on Sean Parker to make a decision that cost Eduardo his ownership share in the company.
Question 2.2 (Critical Success Factors):
The critical success factors of a business occur in the micro, market and macro environments. By analysing the environments, the critical success factors of an enterprise can be identified. (Topper et al: 2013).
Micro environment:
Facebook started off as not being profit driven. Mark merely wanted to make an internet breakthrough and change the way social networking was viewed, therefore in his eyes, Facebook was successful as soon as it became popular and gained users. After the company had been monetised and incorporated as an LLC, it became profit driven as well as innovation …show more content…
The strategy started off as exclusivity. Only Harvard students/ students with a Harvard email address could log on to the site. It then spread to other universities. The ‘Little Big Horn’ strategy was also used, this being where a university already had a social network so therefore Mark expanded Facebook to universities within a 100 mile radius which made it popular with other students and it then expanded to the university that already had a social network, by word of mouth and the fact that it had become a trend and the ‘popular’ thing to have
The Social Network showcases the invention and development of Facebook. Mark Zuckerberg drunkenly starts a website (FaceMash), comparing and rating girls. He is punished with 6 months of academic probation, after crashing Harvard’s network due to FaceMash becoming so popular overnight. He is then recruited by the Winklevoss twins and their business partner, Divya Narendra, as a programmer on their site, Harvard Connection. Mark then gets the idea for ‘Thefacebook’ and approaches Eduardo Saverin, his best friend, for money to help start the site. Thefacebook quickly gains popularity amongst the students and after it expands to England, the Winklevoss brothers decide to sue Mark for Intellectual Property Theft, as they …show more content…
He is a passionate visionary because he believes in himself and his idea. His idea was creative and changed the way social networking was viewed. He sacrificed his time and effort and a lot of his school days in order to make the website a success. He persevered and stayed committed to the project, he worked hard until he was happy with the outcome and even then, he continued to work and perfect it.
I believe that in the film, Mark showed great entrepreneurial skills but that he also lacked in certain areas. He was not a great leader and he was also not independent as he was incapable of making his own business decisions. He relied on Sean Parker to make a decision that cost Eduardo his ownership share in the company.
Question 2.2 (Critical Success Factors):
The critical success factors of a business occur in the micro, market and macro environments. By analysing the environments, the critical success factors of an enterprise can be identified. (Topper et al: 2013).
Micro environment:
Facebook started off as not being profit driven. Mark merely wanted to make an internet breakthrough and change the way social networking was viewed, therefore in his eyes, Facebook was successful as soon as it became popular and gained users. After the company had been monetised and incorporated as an LLC, it became profit driven as well as innovation …show more content…
The strategy started off as exclusivity. Only Harvard students/ students with a Harvard email address could log on to the site. It then spread to other universities. The ‘Little Big Horn’ strategy was also used, this being where a university already had a social network so therefore Mark expanded Facebook to universities within a 100 mile radius which made it popular with other students and it then expanded to the university that already had a social network, by word of mouth and the fact that it had become a trend and the ‘popular’ thing to have