Innovation Strategy of Facebook

As technology has grown in countless ways, social networking site has become more popular and important in online community of internet users. Nowadays, social networking sites (SNSs) are increasingly appealing to the interest of academic and industry researchers fascinated by their affordances and reach. However, most people are still not quite sure what social networking means. Social networking is the alliance of individuals into particular groups, like small rural communities or a neighborhood subdivision. Social networking services are changing the ways in which people use and engage with the Internet and with each other. Social networking websites operate like an online community of internet users. Many of these online community members share a common interest such as hobbies, religion, politics or activities. Young people, particularly, are quick to use the new technology in ways that increasingly blur the boundaries between online and offline activities. Social networking services are also developing rapidly as technology changes with new mobile dimensions and features. This paper will focus on “Facebook” which is one of social networking sites that is getting more popular in online community and gaining attention from internet users in present. It is more of a lifestyle play that allows members to connect to each other. Facebook has grown to 45 million active users who spend an average of 22 minutes on the site. This paper focuses on why Facebook is successful. What innovation or strategy it uses to develop its site to get popular in online community. Moreover, we discuss on Facebook’s business strategy and its partnerships and competitors in social network sites. From our research, we apply SWOT analysis to support on how Facebook is successful and popular. Furthermore, this paper will mention about innovation of Facebook in future