Facebook Inc. is among the largest online social networks in the world. This market position aligns with the company’s mission statement and vision statement, which point to leadership in impacting the world’s social relations. A company’s corporate vision statement describes the condition that the business wants to achieve. In this case, Facebook’s vision statement guides employees in focusing their efforts to support corporate effectiveness in growing the business internationally. On the other hand, a company’s corporate mission statement identifies the primary aims and actions needed to reach the vision. Facebook’s mission statement determines the strategies and tactics to grow and develop the firm. Through consistent focus on the corporate mission and vision statements, the company uses its strengths (see SWOT Analysis of Facebook Inc.) to support business leadership in the global market for online social networking and related Internet advertising services.
Facebook Inc.’s corporate mission statement gives specifics about what the company intends to do as a leading online social media business. On the other hand, Facebook’s corporate vision statement requires specification to provide a guide for the firm’s human resources to support global business expansion and diversification. Effective mission and vision implementation can help the company compete against firms like Google, Google’s subsidiaries, Snapchat, and Twitter, which operate in the international market for online advertising services.
Facebook’s Mission Statement
Facebook’s corporate mission is “to give people the power to build community and bring the world closer together.” This new mission statement was implemented in the midst of data privacy and security issues involving Cambridge Analytica and other parties. In early 2017, the company’s corporate mission was “to give people the power to share and make the world more open and connected.” In this regard, the new corporate mission shows that the company now focuses on making its social networking web site an important part of community development. The following are the major components of Facebook’s mission statement:
- Empowering people
- Enabling community building
- Connecting the world
The “empowering people” component of Facebook’s mission statement signifies the company’s goal of making its online social networking service a means to make users more capable online. In addition, the corporate mission shows that this capability is in the form of community building. For example, people can use the social network to facilitate communication and information sharing among members of communities. These communities include neighborhoods, foundations, shared-interest communities, and a wide variety of virtual communities. In connection with the corporate vision, the mission statement further indicates that Facebook Inc. has the goal of connecting the world. Connections are created when users communicate through the social media website and its corresponding mobile apps. In relation, the company enables businesses to connect with their customers.
Facebook’s Vision Statement
Facebook’s corporate vision statement, based on the company’s social media service offerings, is “People use Facebook to stay connected with friends and family, to discover what’s going on in the world, and to share and express what matters to them.” This corporate vision shows that the business is not just a basic online social networking site. Instead, the company also facilitates knowledge acquisition and valuable communication among individual users. Facebook’s vision statement has the following main components:
- Global market scope
- Tool for communication
- Tool for discovery
- Tool for self-expression
The “global market scope” component of Facebook’s corporate vision is based on the company’s specification of “people” as users, indicating everyone around the world. The corporate vision also shows that the company sees itself as a facilitator of communication among friends and family. Moreover, Facebook Inc. aims to be a global discovery tool through information access. In addition, the company aims to make its online social network a global tool for self-expression. These components of Facebook’s vision statement require the company to grow internationally to maintain its leadership position in the multinational social media market.
Facebook Inc.’s Corporate Vision & Corporate Mission: Recommendations
Some of the conventions on the ideal corporate statement characteristics are included in Facebook’s corporate mission and vision. For example, the company’s mission statement illustrates what the company does, as well as the intended target market. However, an ideal corporate mission statement includes details about the services offered, long-term goals, philosophy, and self-concept. These details are lacking in Facebook’s corporate mission. Also, the company’s vision statement is concise, but not clear enough in terms of the future-oriented aims of the business. To satisfy the ideals of corporate vision statement development, Facebook must make its corporate vision clearer, more concise, inspiring, and future-oriented.
Facebook Inc. combines its corporate vision and mission statements into a single official statement. It is recommended that the company separate these statements to help investors, management, and other employees understand the strategic direction and goals of the business. It is also recommended that the company include diversification in its corporate mission and vision statements. Diversification is relevant to Facebook Inc.’s generic competitive strategy and intensive growth strategies, which include diversifying the business by offering other services, such as through Instagram, Oculus VR and WhatsApp, Inc., which operate as subsidiaries.
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