The world's biggest social media platform, Facebook, with 2.89 billion active users worldwide, started its journey in 2004. Its founding members are Mark Zuckerberg, Dustin Moskovitz, Chris Hughes, and Eduardo Saverin. They established the organisation on 4 February 2004 while studying at Harvard University. As per a study, Facebook is also among the top 5 tech US companies like Google, Apple, Microsoft and Amazon. Thus, the PESTLE analysis of Facebook plays a vital role in determining the overall business operations of this social media platform.
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Ans.The world's biggest social media platform, Facebook, with 2.89 billion active users worldwide, started its journey in 2004. The various factors affecting Facebook are political, economic, social, technological, legal, and environmental.
Ans.A PESTLE analysis studies the key external factors like political, economic, sociological, technological, legal and environmental that hugely influences an organisation. It can guide professionals and senior managers in strategic decision-making.
Social factors in the PESTLE analysis incorporate cultural norms and expectations, health consciousness, population growth rates, age distribution, career attitudes, health and safety. These factors are incredibly helpful for companies to better plan for their marketing analytics and strategy.
Q4.What are the six areas of PESTEL analysis?
Ans.PESTLE analysis often referred to as the PEST analysis, is a concept in marketing principles. The six areas of PESTEL analysis are political, economic, social, technological, legal, and environmental.
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