5-2 Short Paper: Five I’s Strategic Analysis
Southern New Hampshire University
OL-326-X1402 Social Environment of Business
One of the most popular social media platform today is Facebook. This has brought for some unforeseen issues that have evolved into issues of security and fake news. The 5 I’s strategic analysis is an effective strategic method that Facebook can utilize that can manage the concerns they have encountered lately. The 5 I’s of the strategic analysis stages are, issue identification, interested strategic stakeholder, incentive of stakeholders, information objectives; and interaction strategies.”
The initial step of the 5 I’s is issue identification, and in Facebook’s case it’s their current issue with fake news. Over the past several years the level of fake news has increased exponentially, and Facebook has become a central point to spread this information. “On November 8, 2016, Donald Trump was elected the next President of the United States. Many complained that Facebook played a role in electing Donald Trump.” Mark Zuckerberg first reaction was to dismiss these fake news accusations that Facebook acted in a way that influenced an election. However, many people had more trust in the news than the information that was shared on Facebook. There were certain algorithms Facebook used that would show what people see on their feeds which intentionally suppressed journalism and meddled with democracy (Grygiel, 2019).
The second of the 5 I’s is the determination of those stakeholders who are for or against any modifications being made to avoid any public relation concerns. Among the stakeholder considerations for Facebooks were security, privacy and the prevention of fake news. There was a significant amount of displeasure surrounding Facebooks handling of the increasing number of fake new stories lack of privacy. Even though there were changes to CSR, Facebook still lost a number of stakeholders. Recent survey results completed in the emergence of the Cambridge Analytica scandal, had shown that an increasingly number of Americans have become further skeptical of the social-media platform. Generally, about one in every four Americans have removed the app from their cellular phones, and have appeared to be taking a break from one of the most popular social-media service, regardless of age .
There are numerous responsibilities that Facebook has to its stakeholders. When it comes to stakeholders not all are obvious. There is the federal government, the media, many third-party segments, foreign nations, and tech companies. Facebook has a responsibility to all its stakeholders and to uphold each their pledges. A promise to create a safe place in order to interact with friends and family and a vow to follow rules, and regulations that uphold the law. In addition, there is an obligation to maintain all data in a safe and secure manner, and ensure fake news is removed from the platform.
Stakeholders can equally help or hurt Facebooks performance, dependent on the stakeholder and their actions. In regard to the federal government asking for data on customers, this may be harmful to the relationships in conjunction with other stakeholders. Advertisers are another form of stakeholders at Facebook and with the issue of fake news, they significantly harm the actions that Facebook make. There is an increased alertness to be further cautious and specific about who is permitted to advertise and communicate commentaries on Facebook. In addition, with the capability for users to flag posts that they perceive as fake or inappropriate helps Facebook maintain their promises of maintaining a safer social media platform.
Quick action is most definitely needed as the issue of fake news and data leaks are of top priority. There is a need to work swiftly and fast to guarantee a secure and confidential atmosphere for stakeholders. A vetting process has been established to prevent the circulation of fake news, but efforts may not have effective and done in vein due to the repercussions that already had had their effects. The new vetting process that Facebook now employs will now invite to identify if the source is familiar with and if so, whether they trust the source.
There is an effort by Facebook to patrol is platform like a police force to prevent fake news. This has advantages as well as disadvantages to include many costs. This has helped stop operations intended to express doubt and the propagate conspiracy theories. However, Facebook is now seen as regulating or monitoring what individuals share and express. The ACLU describes an ideal social media platform forum that is designed to promote free expression that is crucial to our national political conversations. There is an increased amount of pressure on Facebook to not introduce any type of restrictions or censorships that would inhibit the neutral flow of information. There is already an engagement of interference in regard to commercial interests that are in the realm of pushing down on particular forms of free speech. In retrospect, to identify Facebook as a national policemen of truth would most certainly enhance the difficulties that method brings. Facebook needs to forego in another course and become further transparent about the function of its algorithms so everyday users can have a better understanding .
The use the 5 I strategy by Facebook would further identify the best course of action needed to show the various actions they can take to restore the damages that have been from the result of their misleading policies. Their stakeholders can be utilized to prevent fake news from being disseminated and by working quickly this will guarantee a secure and more private social media platform. All while allowing people to express their personal views and opinions.
Grygiel, J (2019) Facebook algorithm changes suppressed journalism and meddled with democracy. Retrieved from, http://theconversation.com/facebook-algorithm-changes-suppressed-journalism-and-meddled-with-democracy-119446
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Stanley, J. (2016, December 12). Fixing Fake News. Retrieved from ACLU: https://www.aclu.org/blog/free-speech/internet-speech/fixing-fake-news
Swearingen, J. (2018, September 5). 44 Percent of Young Americans Deleted Facebook From Their Phone. Retrieved from NY Mag: http://nymag.com/intelligencer/2018/09/nearly-half-of-young-americans-deleted-the-facebook-app.html
Tiku, N. (2018, January 18). Facebook’s Latest Fix For Fake News: Ask Users What They Trust. Retrieved from wired: https://www.wired.com/story/facebooks-latest-fix-for-fake-news-ask-users-what-they-trust/
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