Facebook, Social Networking and the Future of Business
If you haven’t noticed by now, social networking is taking over the internet, young mind by young mind. And, it’s not just juveniles anymore: adults and even “golden oldies” are in on the social networks.
Social networking is defined as the grouping of individuals together into to specific groups, often like a small community or a neighborhood. Although social networking is possible in person, especially in schools or in the workplace, it is most popular online.
When you think about it, “social networking” is actually one of those expressions that creates less, rather than more, interest! There is one unnecessary word there — “social,” making the expression a (stand back!) pleonasm.
And, if you think about it even further, “social networking” is really about people’s lives . . . not their purchasing habits. Nonetheless, a lot of people seem to believe that this is just the beginning of a fad like DVDs, or the latest music craze. But, I’d argue that social networking is more than a fad.
Indeed, it is the future of peer-to-peer communication because it is becoming a tool to use for establishing concrete connections with the people you know, and with people whom you wish to know. It acts as a giant venue for cross-networking, resources are connected to those who are interested in them, and knowledge travels faster than it has ever traveled before.
More importantly, social networking has become an integral part of conducting business in the 21st century. How your company interacts internally, professionally and with its clients is key to reducing waste and increasing value. Social networking costs very little and this has not gone unnoticed by entrepreneurs and small business owners (including internet marketers). From this perspective, it would appear that social networking is here to stay. So, what’s on the horizon?
Social Networking and the Immediate Future of Facebook:
Of all the social networking sites online, Facebook is the most dominant and its market value (ie, the value of the network that it has facilitated) if based on the price Microsoft paid for 1.6pc of the company last year, could be close to $18bn. This company was started in 2004 by 23 year old Harvard drop-out, Mark Zuckerberg.
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As with any other evolving technology, things are bound to change! Facebook took the internet by storm when it went a step ahead and allowed people to create widgets for the site. In a world with no cell phone or email directories, Facebook has become a way to find lost friends! Social networking sites, in general, make people feel at home and this is what makes everyone, young and old, feel so comfortable about using these sites extensively — they’re addictive!
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More recently, Facebook has come to demand that you take an extra three minutes and get a Yahoo Mail or AOL mail address. This would seem to be a clear indication that the company is “pruning its subscribers” in anticipation of an acquisition in the next 2-3 quarters. After all, Facebook has an economic incentive to publish ever more data about its users.
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[...] on 10 April 2008 by Steven A. Maclin, Ph. D. Insofar as Facebook has become a sprawling, social networking community . . [...]