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External analysis

Through an e-mail, you inform the vice president of your company, Mr. Myers, that it is informative to obtain a good understanding of the industry environment when developing a strategic plan. You also explain to Mr. Myers that you will be submitting a report for his review that will conduct an analysis of the online social networking industry. You inform him that the analysis is a critical component of the business plan and eventually the topic will arise when presenting the final conclusion to the board of directors.

discuss and assess the online social networking industry in terms of each of Porter's 5 forces of competition. In the report, you must also assess the industry's overall attractiveness and identify several of the key success factors.

Be sure to address the following:
?Analyze the online social networking industry.
?Discuss and assess the online social networking industry in terms of each of Porter's 5 forces of competition.
?Assess the industry's overall attractiveness.
?Give examples of other social networking Web sites, and address how they have faired in the global marketplace.
?Identify 5 key success factors for a social networking Web site.
?Address the long-term goals for your company's social networking Web site.
?Discuss the competitive environment of the social networking industry.
?Identify the overall objective of the social networking Web site (be creative, and address what type of social networking Web site your company is trying to design).

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Through an e-mail, you inform the vice president of your company, Mr. Myers, that it is informative to obtain a good understanding of the industry environment when developing a strategic plan. You also explain to Mr. Myers that you will be submitting a report for his review that will conduct an analysis of the online social networking industry. You inform him that the analysis is a critical component of the business plan and eventually the topic will arise when presenting the final conclusion to the board of directors.

discuss and assess the online social networking industry in terms of each of Porter's 5 forces of competition. In the report, you must also assess the industry's overall attractiveness and identify several of the key success factors.

Be sure to address the following:
?Analyze the online social networking industry.
The social networking industry is growing faster than high-value online advertising markets than in online advertising markets. According to 2009 figures Facebook has become the largest global social network in number of users. The second largest network is that of Myspace, followed by Bebo, Twitter, and LinkedIn. During the year there has been a sudden rise in Facebook, a decline in the use of MySpace and other social networking sites being stable. Social network services provide an opportunity for building of social network among people. These are persons have common interest and the service gives a profile of the user and a variety of additional services. The industry prospers because it enables users to share ideas, activities, common interests, and even services within their individual networks.
?Discuss and assess the online social networking industry in terms of each of Porter's 5 forces of competition.
There is strong competition within the industry. Thee are a number of features that social networking sites compete on. The ability to monitor relationship, the creation of preferred friends list, and the level of technical errors are each used to compete against one another.
The ...

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