You are required to watch the YouTube Clip Snapchat's three-part business model with CEO Evan Spiegel: https://www.youtube.com/watch?v=AqPHordzhdw
You will also need to perform your own research on Snap Inc.
Stakeholder View of the Organization Model
Snap Inc. a company that was founded in the year 2010. The aim of the company focus was on camera technology to influence how people live, communicate, learn the world and have fun together ("Snap Inc.", 2018). Reinventing the cameras was the main objective of its founder. Being founded by three Stanford students, Snapchat Inc. becomes one of the most popular companies around the globe. The strategy is to influence how people live and communicate, this attracted many stakeholders around the globe due to its reputable objectives and innovation wealth enhances the good relationship with various stakeholders (Fassin, 2009, p.113). The company focus is on camera, communication which focuses on social engagement through live video calls and finally content generation based on creating stories for live engagement. The success of the company came as a result of a mutual relationship with its stakeholders. The company has engaged in a long-term relationship which has enabled it to gain grounds in the market (Sironi & Resti, 2007, p.5). Another key aspect the company has taken is to engage with various governments, the general public and corporate organization that have seen the company spread its wings in the corporate world.
Stakeholders of snapchat inc. include the company customers, shareholders, competitors and the general public To align the business management ethical standard must be the key consideration (Stubbs & Cocklin, 2008, p.103). Different stakeholders view business from the different point of view. Below we highlight how each stakeholder views the company.
The shareholders are the people who own the business in terms of shareholdings. They benefit from the company’s success on the increase of their share value. Shareholders also can contribute to the company through decision making. Snapchat Inc. has two nominee shareholders; these are Evans Spiegel the CEO, Bobby Murphy and Reggie Brown.
The company target customers around the globe. Due to its entertainment aspect, the company has attracted young people and middle-aged people. With the fashion age, young people are tending to identify with the fashion. Most of them are using snapchat for entertainment purpose and to show their friends where they are in the real time (De Geus, 2018, p. 70). Snapchat being used to send photos that disappear within a few seconds it does not occupy memory space in the phone. This is also reflected in universities and colleges since the majority of young people are in this sector. To gain popularity the company has participated in contributing to the wealth of the general public through supporting the project and in social responsibility (Bruno, 2011, p.15).
As a disruptive market snapchat has faced tough competition from its competitors but has remained strong in the market.
Facebook has been and still is one of the social media with the highest number of subscribers. It has adopted in snap-in by introducing the Instagram that many people like the features. To remain in the market, Facebook has embraced the feature that allows people to share photos across the network (Miller, 2012, p.55). This enables it to retain popularity.
Google, on the other hand, had proposed to buy snapchat at cost of three billion dollars which the CEO declined. Google and Facebook had been in cooperation but snapchat has come to challenge the two giants. Google has introduced many other services like google drive, which allows users to save their files and content in the space (Litz, 2016, p.1355). It has also had google photos that allow photo synchronization from the camera. This feature enables synchronizes the photos with Google photos immediately they are captured. In case the photos are deleted the user can still find a back up from Google photos.
Twitter allows its users to twit messages to the public domain, it’s a tool widely used in the globe to communicate once view about events, people and once opinion (Coff, 2017, p.119). It has been used in the political arenas, by government officials, artists, media and the public at large. Before the news is broadcasted twitter always take it first to the public since many people are using it to relay information immediately it happens.
In the views of the general public, these are the people or shareholders who have the interest in a company. Their views contribute to the growth of the company. Opening shares to the public enhance a good relationship with the public to contribute their views to the company. This gives the public a percentage of ownership of the company. Imran Khan, Michael Lynton and Timothy Sehn are some of the shareholders of snapchat Inc.
The stakeholders may contribute both positive and negative to the rise or collapse of the organization. The innovation behind Facebook view of the market was to enhance real-time communication which came strongly and was embraced by Facebook users. Promoting business and online marketing has come in handy. This has enabled Facebook to attract many people especially the upcoming youths who use the platform to exchange information and for interaction across the globe. For relevance purpose and to reach young people many companies are using the platform for marketing purpose. This has made Facebook maintain its relevance in the market. On the other hand, snapchat Inc. is capitalizing on entertainment and renovating cameras. Bruno (2011, p.9), suggest that the main agenda of this market strategy is to capture the purchasing power of young people and innovation. Through group influence, young people are the most likely lured to purchase sophisticated cameras that suit their entertainment needs. This suggests that college students are not excluded from the market (Sethna & Blythe, 2016). The change in behavior can greatly influence snapchat Inc. market around the globe. Google focus is on messaging, real-time communication, information backup, and mobile phone synchronization. Embracing innovation has continued to invent the new brand of services and promotion in the market. It has continued to embark on the domain as a key to promote small business entrepreneurs and has provided platforms for creating and hosting companies’ websites.
The shareholder's point of view is to have control over company assets value and to gain more voting power. Knowing the company objectives, shareholders tend to maximize their profit from the company. This comes through communicating with the right people, listening to other shareholders, attending shareholders meeting and knowing the background of the company. (Bryde et al, 2015, p.8).
Customers look into the quality service delivery, reliability and mostly on the service benefits. Information security plays a big role, especially in social media. Snapchat Inc. has improved on this since the information disappears from the device soon after the photo is shared (Post, Preston & Sachs, 2012, p.6-28). Unlike Facebook and other social media, it is difficult to know what and who a user communicated with. Due to restrictions posed to young people by their parents and the lack of knowledge of parents about the existence of this app, young people are taking advantage of the snapchat to relay any information without the knowledge of their parents and with no trace (Rowley, 2017, p.887). This being the reason many young people are embracing the app it is working to their advantage.
To the Snapchat Inc shareholders should have a clear sustainability plan because in the dynamic strategies anything can come up to overshadow the future projected goals and plan of the organization. The company needs to employ expert software developers to enhance innovative for its projected plan and to remain focused on the market (Miller, 2012, 16). The competitors should continue embracing the new ideas from the young mind. This can bring in brilliant ideas which can bring in innovation and enable the company to stand despite the tough competition that may arise in the future where others competitors may try to take advantage of its management. Testing new product in the market ensures that innovation is embraced in the market. This also enables the various stakeholders to remain focused as they try to maintain the market and remain relevance (Stubbs & Cocklin, 2008, p.103). Customers play a wide role since monotony of stakeholders is not embraced. The monotony of companies reduces quality service delivery that leads to poor economic performance in the country.
To the general public, investing in various companies enhances the growth of the organization and also promotes the stock market in the nation. This ensures that the public is benefiting from the value of their shares, the government is earning revenues and the company is projecting its share growth in the stock rate.
With market dynamics, improvement has been seen in the line if technology due to the diverse emerging of various social media marketing tools in the market. The rise of Snapchat has come strongly targeting the young people due to its capability of hiding sent information within few seconds. This has raised alarming criticism among parents towards the App but it has not been deterred. Through its stakeholders who have invested in the company, the company has grown and its popularity has widely spread around the globe. The company is determined to remain in the market despite the high competition from its competitors. The company CEO Steven Spiegel refused an offer to sell the brand to Google. Accepting the challenge and to maintain relevance facebook has embraced the snapshot technology by incorporating the Instagram app to enhance photo sharing to its users. The organization has developed in the market firmly and has pulled in key business partners far and wide. This theory will give a concise portrayal of Snapchat at that point stipulate how it has affected the market. As a problematic advancement, we will plot the impact the organization is adding to a portion of these organizations. We will finish up by featuring the real advantages of dynamic techniques and problematic development. Snap Inc. an organization that was established in the year 2010. The point of the organization center was around camera innovation to impact how individuals live, impart, take on the planet and have a fabulous time together. Reevaluating the cameras was the fundamental goal of its originator. The organization needs to utilize master programming designers to improve creative for its anticipated arrangement and to stay concentrated available. The contenders should keep grasping the new thoughts from the youthful personality. This can acquire splendid thoughts which can get development and empower the organization to remain regardless of the intense rivalry that may emerge later on where others contenders may endeavor to exploit its administration. Testing new item in the market guarantees that advancement is grasped in the market. This additionally empowers the different partners to stay engaged as they attempt to keep up the market and remain pertinence. Clients assume a wide part since dullness of partners isn't grasped. The dreariness of organizations decreases quality administration conveyance that prompts poor monetary execution in the nation. Being established by three Stanford understudies, Snapchat Inc. ends up a standout amongst the most well known organizations around the world. Google also has continued to innovate various brands suitable to its users especially the new Google photos that enable mobile users to synchronize with Google photo App that backs up their photo instantly. With market diversity, existing companies must remain focused by embracing technology for them to remain relevant and maintain their customer's interests and satisfy their needs.
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