Was it reasonable for Facebook to initially ignore a segment of its market when MySpace

| April 14, 2018

Read the case “Social Status: The Rise and Fall of MYSpace” at the end of Chapter 6.Answer the following questions and/or statements in detail:1. Was it reasonable for Facebook to initially ignore a segment of its market when MySpace was so big and Facebook so small? Use credible sources to support and explain.2. Friendster turned down a $30 million acquisition offer, and MySpace accepted one for $580 million. Both decisions are considered to have hampered their ability to compete with Facebook. Why? Use credible sources to support and explain.3. Should they have taken the money? When and how do you know it’s time to sell? Use credible sources to support and explain.4. MySpace later became known as the social networking site for music and entertainment connections. Do you think it can build a highly profitable business around this niche still with the advent of Facebook and other entrants into the marketplace? Explain in detail and support your answers using sources of research. Use credible sources to support and explain.Please refer to my Announcement titled “How to Write an “A” Business Paper” and use the template I’ve provided there to write each of your Weekly Assignments.Make sure you format your papers in proper APA 6th. Be sure to properly cite your sources inside your text using APA 6th citations rules as well as proper APA referencing guidelines in your “References” (bibliography) section at the end of your papers.Writing a good business paper is different from writing an English composition. A business reader wants to:look at the paper and quickly recognize the issues(s) being addressed to determine their interest. Next,they want to see well documented facts (research, not opinions) explaining each issue. Next,they want analysis, i.e. your synthesis of the facts you’ve researched as they apply to the issues being analyzed. And, finally,they want your actionable recommendations and conclusions.Its a very good idea to include some relevant statistics in your analysis. For example, if you said a certain company was showing declining sales, market share and/or profitability, insert a Word Table or Graph showing some statistics that support your assertion. Always explain why a table, Graph or graphic has been included. Don’t overdo it, but this will add credibility and interest to your analysis.Leave out the flowery language often found in English composition. Make your business writings precise, focused and brief. And use straightforward language, try to avoid excessive use of technical jargon (I know, sometimes its necessary) and acronyms (unless you spell out the meaning the first time you introduce them). In short, make it as easy as possible for them to read and understand it. Reread and rewrite until your paper is perfectly clear to you. Then you might want to ask someone else to read it and see if they understand it (no that’s not cheating).A good thing to keep in mind is that you are writing a business paper at the request of a colleague, your boss, a customer, supplier, partner, etc. So they might readily understand the context of your paper. But what if they hand the paper to someone else like their boss (happens). Will they understand the context – in other words “…why was I given this and why should I read it?”. By repeating the assignment at the very beginning and clearly organizing/formatting your paper it should be clear to anyone who happens to wind up looking at it.So now think about who’s your audience for these written homework assignments? Why, its me, of course. And I want the same thing other business readers want. Tell me immediately what the paper is about (can be done by simply paraphrasing the assignment – but doesn’t count toward the specified word count – sorry). If the assignment has multiple parts, tell me you are going to address all of them. Then start presenting your research and analysis of each issue raised in the assignment. Remember different readers might only be interested in certain issues but not all, so make it easy for them to find the section they want to read. The easiest way to do this is use subheadings for each section of your paper and address only one of the questions in the assignment in each section.This probably sounds challenging to many of you. So here is a tip. Use a template like the one below on every business paper (you can use this one or develop your own). Its may not seem creative, but that’s not the purpose of most good business papers. KISS is a good rule of thumb in business writing.Here is the template I recommend:Cover Sheet(on a separate page, not in the body of the paper)Introduction”In this paper I will address the following issues posed by the Week X assignment:Issue 1 (just repeat a short version of each issue form the assignment)Issue 2Issue 3etc.etc.”Background(if needed, insert a brief description of your company or other contextual information)Issue 1 – Repeat Issue 1, i.e. a short descriptive subheading – do not use “Issue 1”, etc. as your subheading.Present research (including proper citations) regarding Issue 1Present your analysis of Issue 1Present any Conclusions and recommendations regarding Issue 1Issue 2 – Repeat Issue 2Present research (including proper citations) regarding Issue 2Present your analysis of Issue 2Present any Conclusions and recommendations regarding Issue 2Issue 3 – Repeat Issue 3Present research (including proper citations) regarding Issue 3Present your analysis of Issue 3Present any Conclusions and recommendations regarding Issue 3etc.etc.Conclusion(one short summary paragraph)References Page(on a separate page, not in the body of the paper)

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