Concept of free-market capitalism

FACEBOOK is my company of choice. Submit the Overview section of your final project, which continues building on what you started in Milestone One to complete Section I of the final project critical elements. You will provide the business profile and governmental action, revised according to feedback received on Milestone One, then add organization and teams, stakeholders, and current environment. Be sure to support all factual claims/positions with appropriate citations to your research materials.

Requirements: 8-10 pages

PLEASE include headers too identify where you address each element (i.e., Business Profile, Government Action, etc)

For the government action topic. Pick one and limit your discussion to that.

My Professor submits all papers via Turnitin checking for plagiarism.

Answer preview

platforms to provide more value to social media users (Trefis Team, 2019). This is a threat because when social media users perceive competitors‘ products as adding more value to their lives than the value they get by using Facebook’s products, they will start using them. This means that advertisers will begin transacting with the competitors due to the popularity of their platforms, thereby reducing Facebook’s revenue, especially from advertising. Another major threat to the company targets its brand. The company has had to contend with negative publicity about the spread of misinformation and hate, particularly on the role its algorithms play in such activities (Trefis Team, 2019). This negative publicity could jeopardize its market position and, subsequently, its profitability, considering it can adversely affect its brand reputation and image.

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The Social Media Privacy Protection and Consumer Rights Act of 2021 aims to enhance transparency in consumer data breach notification options and generally ensure that organizations are committed to implementing their consumer privacy and confidentiality policies (U.S. Senator John Kennedy, 2021). To guarantee the attainment of these objectives, the statute has a couple of obligations organizations in the social networking industry have to adhere to. For Facebook, this governmental action will take away the control it currently enjoys over the data of the people using its platforms. The statute seeks to give users control over the information

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Concept of free-market capitalism