Commenced in January 2007
Frequency: Monthly
Edition: International
Paper Count: 31108
Facebook Lessons for E-Business Startups

Authors: Linda, Sau-ling LAI

Abstract:

This paper addresses the fundamental requirements for starting an online business. It covers the process of ideation, conceptualization, formulation, and implementation of new venture ideas on the Web. Using Facebook as an illustrative example, we learn how to turn an idea into a successful electronic business and to execute a business plan with IT skills, management expertise, a good entrepreneurial attitude, and an understanding of Internet culture. The personality traits and characteristics of a successful e-commerce entrepreneur are discussed with reference to Facebook-s founder, Mark Zuckerberg. Facebook is a social and e-commerce success. It provides a trusted environment of which participants can conduct business with social experience. People are able to discuss products before, during the after the sale within the Facebook environment. The paper also highlights the challenges and opportunities for e-commerce entrepreneurial startups to go public and of entering the China market.

Keywords: E-Commerce, entrepreneur, startup, F-Commerce

Digital Object Identifier (DOI): doi.org/10.5281/zenodo.1084924

Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 2111

References:


[1] Time. "Person of the Year 2010." December 2010. http://www.time.com/time/specials/packages/article/0,28804,2036683_2 037183_2037185,00.html (accessed November 2011).
[2] Lai, L.S.L. and E. Turban. "Group Formation and Operations in the Web 2.0 Environment and Social Networks". Group Decision and Negotiation, 17(5): 387- 402 (2008).
[3] Hinchcliffe, D. "The Social Graph: Issues and Strategies in 2008." On Web Strategy, January 2009. http://dionhinchcliffe.com/tag/social-graph-2 (accessed November 2011)
[4] Needle, D. "The Microsoft of Social Networks." InternetNews, May 2007. http://www.internetnews.com/xSP/article.php/3679906 (accessed November 2011).
[5] Hoge, P. "Facebook 2011 ad revenue said to hit $4 billion." San Francisco Business Times, January 2011. http://www.bizjournals.com/sanfrancisco/blog/2011/01/facebook-revenu e-said-to-hit-4b-this.html (accessed November 2011).
[6] Shih, C. The Facebook Era: Tapping Online Social Networks to Market, Sell, and Innovate, 2nd ed. Upper Saddle River, NJ: Prentice Hall, 2011.
[7] Sadasivan, M. "Facebook: An Online Marketing Tool." IBS Case Development Centre, 2010.
[8] Phelps, J.E. et al. "Viral Marketing or Electronic Word-of-Mouth Advertising: Examining Consumer Responses and Motivations to Pass along Email." Journal of Advertising Research, 44(04): 333-348 (2005).
[9] Bazaarvoice. "Social Commerce Statistics." Bazaarvoice, February 2010. http://www.bazaarvoice.com/resources/stats (accessed November 2011).
[10] Zarrella, D., and A. Zarrella. The Facebook Marketing Book. Sebastopol, CA: O- Reilly Media, 2011.
[11] Moran, G. "Going Social." Entrepreneur, January 2010.
[12] Sethuraman, P., and R. S. Rathore. "Facebook: The Startup-s Strategic Dilemmas." IBS Case Development Centre, 2008.
[13] Eaton, K. "Zuckerberg-s Taking Facebook Into China, But It-ll Be a Baidu Beast." Fast Company, April 2011. http://www.fastcompany.com/1746392/facebook-china-baidu-social-net working (accessed November 2011).
[14] Chang, G. G. "China Wants to Buy Facebook." Yahoo! News, July 2011. http://www.news.yahoo.com/china-wants-buy-facebook-215806956.htm l (accessed November 2011).
[15] Gayathri, A. "China to buy Facebook Stake, Microsoft to Help Baidu: Should We Worry?" International Business Times, July 2011. http://www.ibtimes.com/articles/174343/20110705/facebook-china-micr osoft-baidu-social-networking-search-engines-privacy-internet-regulatio n-pro-demo.htm (accessed November 2011).
[16] Zuckerberg, M. "An Open Letter from Mark Zuckerberg." Facebook, September 2006. http://www.blog.facebook.com/blog.php?post=2208562130 (accessed November 2011).
[17] Martins, A. T. "Mark Zuckerberg: Success Secrets of the Youngest Billionaire in the World." How To Start A Small Business, March 2011. http://www.strategicbusinessteam.com/successful-entrepreneurs/mark-zu ckerberg-success-secrets-of-the-youngest-billionaire-in-the-world (accessed November 2011)
[18] Sethuraman, P. "Facebook (A): The Startup's ÔÇÿSocial- Success." IBS Case Development Centre, 2008.
[19] Forbes. "Good Technology Is Nice; A Good Idea Is Better." September, 2007. http://www.forbes.com/2007/08/09/google-yahoo-youtube-ent-fin-cx_k w_0809whartonvc.html (accessed November 2011).