Facebook Faces Fresh Probe After Photo Leak at the end of Chapter 2. Answer four of the following questions: Be sure to number your responses so your professor knows which question you are answering:
Internal stakeholders of Facebook
The Management Team, Board of Directors, employees, and shareholders are the main internal stakeholders of Facebook. Mark Zuckerberg is its founder, chairman and chief executive officer, hence the most important and most powerful stakeholder. His active participation and bold leadership have been a key to the success of the company. Rodriguez (2020) states that Zuckerberg was never worried to go against the wishes of the users, or the executives as reflected in a number of successful acquisition bids (e.g. Instagram, WhatsApp, and Oculus) made by the company under his leadership.
There are number of positions in the Management Team of Facebook such as Chief Operating Officer, Chief Revenue Officer, Chief Product Officer, Chief Technology Officer, Chief Financial Officer, and General Counsel (Facebook, 2021). These stakeholders are powerful and play a big role in running and shaping the future of the company.
External stakeholders of Facebook
Users, competitors, suppliers, and governments are some of the key external stakeholders of Facebook. According to Tankovska (2021) Facebook has around 2.8 billion monthly active users. Certainly, users are very important, and therefore, making and keeping them satisfied is extremely important for the company.
Facebook is very committed to its suppliers and spent around $515 million with them in 2019 alone. It has recently introduced a supplier diversity program to increase opportunities for those suppliers who operate from outside of the United States (Facebook, 2021).
2. What are the social responsibilities of the company if it is operating in other countries?
Social responsibility is a means of achieving sustainability. Adopting key social responsibility principles, such as accountability and transparency, can help ensure the long-term viability and success of any organization or system.
In 2010, the International Organization for Standardization (ISO) published an international standard, ISO 26000, to help organizations assess and address their social responsibilities. ISO 26000-2010: Guidance on Social Responsibility defines social responsibility as:
The responsibility of an organization for the impacts of its decisions and activities on society and the environment, through transparent and ethical behavior that:
3. To what level of CSR or CSV is the company adhering at the time of this case?
Much has transpired since the writing of this case regarding Facebook’s privacy challenges. Research and compile a brief update on Facebook’s privacy challenges.
4. What privacy issues have arisen in Europe and the United States?
5. What has Mark Zuckerberg done about privacy issues to appease the public and preserve the brand?
6. What is your opinion about the problems of privacy from using Facebook?
7. What regulations or restrictions for Facebook are in place in Europe and the United States? Do you agree with them? Why or why not?