The vice president of your company, Mr. Myers, has read over your last report, and he has decided that for you to fully understand the social networking industry, you must research a prosperous social networking Web site or company. He explains that you should use the researched social networking Web site as a benchmark and compare it to the needs of your company's developing social networking Web site.
For this assignment, you must submit a report in which you research a prosperous social networking Web site and discuss how its core strength could help your social networking Web site jump into the global marketplace.
For full credit, you must address the following in your report:
Research a prosperous social networking Web site or company, and use it as a benchmark.
Discuss in detail the main objective of the researched social networking Web site or company.
Discuss the benchmark Web site or company's core strengths.
Discuss at what extent the benchmark Web site or company strategy has been built upon a common set of resources and capabilities rather than specific customer needs.
Explain the principal resources and capabilities of the benchmark Web site or company.
Identify the benchmark Web site or company's basis for formulating its strategy.
Explain what core strengths of the benchmark Web site or company would help your company jump into the global marketplace.
Strategic Marketing - Social Media - 2
This social networking site is strictly a business-related one. It was started in December 2002 and launched in May 2003. It is one of the largest professional networking sites in the world (Woo, Cowan & Tam, 2011)." Founded by Reid Hoffman in his living room in 2002 (LinkedIn, 2011a).
The Main Objective
The main objective of "LinkedIn operates the world's largest professional network on the Internet with more than 100 million members in over 200 countries and territories (LinkedIn, 2011a)." The main objectives of LinkedIn are stated from Helen Cohen as follows (Sonnhalter, 2011b):
1) Position your company - This lets people know what you do and the kinds of things you offer.
2) Offers credibility - This shows your company is a leader in doing what is right.
3) Expands your contact base - This gives you connections and communication to friends, business associates, future contacts, and prospective clients.
4) Expands company network - The more members of your company are connected through LinkedIn, the better are the company's chances for exposure to many different industries and organizations.
5) Source for new employees - This was originally an HR network and it still is.
When more employees from a company connect through LinkedIn, the more productivity can result simply for the ease of communication between networks of organizations all around the world.
LinkedIn - Its Core Strengths
The mission of LinkedIn is "to connect the world's professionals to make them more productive and successful. Relationships and trust form the foundation of our business, and they are key to our corporate culture. We operate on the basis of responsiveness, openness, honesty and trust without members, business ...
This report will discuss the prosperous social networking website called LinkedIn. It will address how its core strength could help the company's social networking website advance into the global marketplace. It will cover how LinkedIn's core strengths assist companies worldwide. It is provided in approximately 1,000 words and 6 references.