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To fully prepare for a presentation on your company's new social networking site, you must know what strategic resources are necessary to obtain. You should prepare a memo for your boss outlining the key resources and explaining their linkage to competitiveness.
You must address the following in your memo:
- Discuss the role of resources and capabilities in strategy formulation.
- Research and discuss the key resources of a social networking Web site.
- Explain how the key resources are linked to competitiveness.
- Discuss the steps associated with putting resources and capabilities to work.
- Research one other social networking Web site or company, and explain its key resources.
- Explain to the vice president what strategy recommendations the company should offer before implementing the social networking Web site.
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Solution Summary
This posting gives you an in-depth insight into social networking resources and how they relate to competitiveness in the form of a 1110-word memo and 7 references.
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FROM: Jay Robinson
TO; Mr. Meyers
DATE: July 12, 20xx
SUBJECT: Social Media
Discuss the role of resources and capabilities in strategy formulation:
The role of resources and capabilities in strategy formation is critical. If the resources are suited to large scale production and the realization of economies of scale the strategy formulation of cost leadership is suitable. On the other hand if the organization has resources and capabilities for quick innovation, creativity, and development of new products, these capabilities are suitable for a differentiation strategy. Also, the size of the resources and capabilities is important, if the size of the resources and capabilities are limited, the strategy of the organization should be to focus on a niche. On the other hand if the size of resources and capabilities is large, possibility develop through acquisitions, then a broad strategy is more appropriate.
- Research and discuss the key resources of a social networking Web site.
The key resources of the social networking website Facebook are its employees, its worldwide reputation, its large number of members, its immense financial strength, and its focused management. Let us consider these resources in some detail. First, Facebook has about 2,000 employees that are trained in providing social networking site services. They form the most important key resource of Facebook. In addition, the management team of Chris Cox, Sheryl Sandberg, and Donald Graham form an important resource for Facebook. The company has offices in 15 countries. Its usage and membership forms another important resource. Currently, there are 750 million users in July 2011. These now form an important resource for Facebook. ...
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