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The Rise And Fall Of Myspace
The capacity of a company to respond to changing market conditions cannot be gainsaid as far as enhancing the sustainability and profitability of the company both in the long-term and the short-term is concerned. Unfortunately, not many businesses have this feature even in instances where they may be huge in the market. This was the case for MySpace, a social networking site whose life spanned a paltry 6 years (Abrams, 2012).
- While Facebook may have ignored a certain market segment at a time when it was small unlike MySpace, the action was extremely reasonable. This is especially considering that the social site was small in which case its entry into the market had to revolve around the provision of a unique experience to a certain group of people (Hisrich et al, 2005). This was the only way that small companies can compete with large companies so that they can gain considerable market share that would allow them to compete with the large companies (Hisrich et al, 2005).
- Decisions pertaining to the sale of a business of any kind are often complex. Indeed, there exists an element of ambiguity as to the time when such a decision would be best suited for the growth and development of the company. However, while the decline of Friendster and MySpace may have been attributed to the turning down and acceptance of certain offers, it is worth noting that the success of a company is not primarily built on the amount of money offered for it, rather it is tied to the harmonization between the visions of the buyers and the sellers. Indeed, it is reported that the social site would report to Ross Levinsohn, an executive at the acquiring company whose vision was different from that of the founders (Anthony, 2009). Research shows that the founders of the social site continued undertaking rampant experimentation even after the acquisition, an action that frustrated the executives at New Corp who strived to imbue discipline in execution (Anthony, 2009). This was the same case for Friendster, which turned.............
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