Consider a company with which you are familiar ( the company which i chose is Keller Williams Realty in Houston, Texas). Discuss what might be in the organizations external, general, or industry environment that would influence strategic planning for that company.
Sample Solution
o advocate for devicesâsuch as legislationâthat would better protect them. However, these regulatory advocates fail to understand the value that users derive from Facebook; they like having their family and friends, photo albums, and messaging all in one place. Most reasonable consumers understand that Facebook is a for-profit enterpriseâone that has a legal obligation to maximize value for its shareholders. They understand that data collection and targeted advertising serve as the main drivers of profit which make Facebookâs valuable services possible. Naturally, users expect to be treated fairly, but it would be unrealistic for users to assume that the platform will never make mistakes as it continues to innovate. Indeed, rather than quitting Facebook in the wake of the Cambridge Analytica scandal, it seems as though users responded by giving Facebook a chance to make improvements. The scandalâs relatively small effect on Facebookâs bottom line may be related to Facebook having a resilient âbrand personalityâ such that users understand that it is an imperfect and evolving platform. Indeed, Facebook experienced an increase in engagement from U.S. users following the Cambridge Analytica scandal, as users went online to update their privacy settings. However, U.S. users do quit Facebook. In fact, Hill Holidayâs recent survey of Generation Z found that more than one-half had switched off social media for an extended period of time and one-third had canceled all of their social media accounts. While 44% of respondents cited âtime wastingâ as the largest factor behind their decisions, 22% cited privacy concerns. Risk of declining user engagement, on its own, is enough to catalyze change at Facebook. A perfect example of this reality comes from Facebookâs recent attempt to change its model to emphasize posts from family and friends over news. In response to the changed model and Cambridge Analytica scandal, the market reproved the company as it lost $119 billion in value in a day â the largest single day drop for a company in U.S. history. This amount is roughly 10 times the maximum fine that authorities could levy under the GDPR. Moreover, Facebookâs shareholders have demanded leadership changes and have initiated lawsuits against the company. This response demonstrates once again that users and the marketplace are the most effective regulators of corporate entities. In the midst of public relations disasters, firms possess the tools to improve user safety, and will do so without being compelled by the government. II. The Risks Associated With GDPR-Style Legislation The American free enterprise system has been one of the most successful devices for prosperity and liberty in history, and has the potential to deliver a promising future for the United States. Recent decades have seen a decline in economic growth and innovation, and one important cause is poorly-designed>
o advocate for devicesâsuch as legislationâthat would better protect them. However, these regulatory advocates fail to understand the value that users derive from Facebook; they like having their family and friends, photo albums, and messaging all in one place. Most reasonable consumers understand that Facebook is a for-profit enterpriseâone that has a legal obligation to maximize value for its shareholders. They understand that data collection and targeted advertising serve as the main drivers of profit which make Facebookâs valuable services possible. Naturally, users expect to be treated fairly, but it would be unrealistic for users to assume that the platform will never make mistakes as it continues to innovate. Indeed, rather than quitting Facebook in the wake of the Cambridge Analytica scandal, it seems as though users responded by giving Facebook a chance to make improvements. The scandalâs relatively small effect on Facebookâs bottom line may be related to Facebook having a resilient âbrand personalityâ such that users understand that it is an imperfect and evolving platform. Indeed, Facebook experienced an increase in engagement from U.S. users following the Cambridge Analytica scandal, as users went online to update their privacy settings. However, U.S. users do quit Facebook. In fact, Hill Holidayâs recent survey of Generation Z found that more than one-half had switched off social media for an extended period of time and one-third had canceled all of their social media accounts. While 44% of respondents cited âtime wastingâ as the largest factor behind their decisions, 22% cited privacy concerns. Risk of declining user engagement, on its own, is enough to catalyze change at Facebook. A perfect example of this reality comes from Facebookâs recent attempt to change its model to emphasize posts from family and friends over news. In response to the changed model and Cambridge Analytica scandal, the market reproved the company as it lost $119 billion in value in a day â the largest single day drop for a company in U.S. history. This amount is roughly 10 times the maximum fine that authorities could levy under the GDPR. Moreover, Facebookâs shareholders have demanded leadership changes and have initiated lawsuits against the company. This response demonstrates once again that users and the marketplace are the most effective regulators of corporate entities. In the midst of public relations disasters, firms possess the tools to improve user safety, and will do so without being compelled by the government. II. The Risks Associated With GDPR-Style Legislation The American free enterprise system has been one of the most successful devices for prosperity and liberty in history, and has the potential to deliver a promising future for the United States. Recent decades have seen a decline in economic growth and innovation, and one important cause is poorly-designed>
