Compare And Contrast And Myspace Essay

Instead of reacting to market shifts, fast, allowing mistakes to happen while learning what works, professional managers should be able to predict and perform without making mistakes.That once the bright folks who create the strategy set a direction, its all about executing the plan. If you stumble, you need to focus harder on execution.When managing innovation, including operating in high growth markets, nothing works better than White Space.  Giving dedicated people permission to do whatever it takes, and resources, then holding their feet to the fire to demonstrate performance.  Letting dedicated people learn from their successes, and failures, and move fast to keep the business in the fast moving water.  There is no manager, leader or management team that can predict, plan and execute as well as a team that has its ears close to the market, and the flexibility to react quickly, willing to make mistakes (and learn from them even faster) without bias for a predetermined plan.

Instead of reacting to market shifts, fast, allowing mistakes to happen while learning what works, professional managers should be able to predict and perform without making mistakes.That once the bright folks who create the strategy set a direction, its all about executing the plan. If you stumble, you need to focus harder on execution.When managing innovation, including operating in high growth markets, nothing works better than White Space.  Giving dedicated people permission to do whatever it takes, and resources, then holding their feet to the fire to demonstrate performance.  Letting dedicated people learn from their successes, and failures, and move fast to keep the business in the fast moving water.  There is no manager, leader or management team that can predict, plan and execute as well as a team that has its ears close to the market, and the flexibility to react quickly, willing to make mistakes (and learn from them even faster) without bias for a predetermined plan.

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According to the movie, the first effort to sell ads to anyone were completely unsuccessful, as uses behond college kids sharing items on each other were not on the table. But, the brilliance of Mark Zuckerberg was his willingness to allow Facebook to go wherever the market wanted it. Different ways to find potential friends - go for it. To the contrary, it was about adding, adding, adding and doing whatever would allow the marketplace to flourish.

The founders kept pushing the technology to do anything users wanted. Permission to do whatever it takes to keep growing.

There is no manager, leader or management team that can predict, plan and execute as well as a team that has its ears close to the market, and the flexibility to react quickly, willing to make mistakes (and learn from them even faster) without bias for a predetermined plan.

The penchant for planning has hurt a lot of businesses. Big failures - like Circuit City, AIG, Lehman Brothers, GM - are full of extremely bright, well educated (Harvard, Stanford, University of Chicago, Wharton) MBAs who are prepared to study, analyze, predict, plan and execute.

If you have an idea for networking on something, Facebook pushed its tech folks to make it happen. And looking within the comments for what would be the next application - the next promotion - the next revision that would lead to more uses, more users and more growth. And resource it as best you can - without prejudice as to what might work well, or even best. What doesn't work stop resourcing, what does work do more.

Contrarily, at News Corp the leaders of My Space had a plan.My Space was targeted at the same audience, had robust capability, and was to market long before Facebook.It generated enormous interest, received a lot of early press, created huge valuation when investors jumped in, and was undoubtedly not only an early internet success - but a seminal web site for the movement we now call social media.Giving dedicated people permission to do whatever it takes, and resources, then holding their feet to the fire to demonstrate performance.Letting dedicated people learn from their successes, and failures, and move fast to keep the business in the fast moving water.On top of that, My Space was purchased by News Corporation, a powerhouse media company, and was given professional managers to help guide its future as well as all the resources it ever wanted to support its growth.By almost all ways we look at modern start-ups, My Space was the early winner and should have gone on to great glory. Facebook was hatched by some college undergrads, and started to grow.The belief that smart MBAs, with industry knowledge, will perform better.That "good management" means you predict, you forecast, you plan, and then you go execute the plan.A lot of foks will be relaying the tactics of things done and not done at My Space.  As well as tactics done and not done at Facebook.  But underlying all those tactics was a very simple management mistake News Corp.made.  News Corp tried to guide My Space, to add planning, and to use "professional management" to determine the business's future.  That was fatally flawed when competing with Facebook which was managed in White Space, lettting the marketplace decide where the business should go.