Users and communities are stakeholders in the social media business. The mission statement’s emphasis on facilitating social connections supports Meta’s (Facebook’s) corporate social responsibility and stakeholder management endeavors.

The third point of Meta’s mission statement relates to the second point, and shows the strategic goal of capturing the global market through operations in the metaverse that the corporate vision statement refers to. Considering information technology, such communities are online or virtual, and represent or augment communities in the physical or real world, similar to communities that have long existed on Facebook. The second point of the corporate mission indicates Meta’s aim of enabling users to join and develop communities. The first point shows the business purpose of providing “power,” referring to technologies that enable users to create social connections. This corporate mission statement has been in use before the corporation changed its name from Facebook to Meta Platforms Inc. Meta’s mission statement reflects business focus on social networking, depicting operations when the company was still known as Facebook. The previous corporate mission was “to give people the power to share and make the world more open and connected.” The following points are in Meta Platforms Inc.’s current corporate mission statement: Meta’s (Facebook’s) corporate mission is “ to give people the power to build community and bring the world closer together.” This mission statement was implemented amid data privacy and security issues when the business, operating as Facebook Inc., transacted with Cambridge Analytica. This condition indicates that the corporate mission continues to be relevant to Meta Platforms Inc.’s (Facebook Inc.’s) current operations and management approaches, and applies to the metaverse, as well. On the other hand, the corporate mission statement remains the same despite such shift to the metaverse.

(Facebook Inc.), requires that the company’s corporate mission and vision statements address the current business environment, expanding from Facebook’s corporate mission statement and corporate vision statement, to the new metaverse-focused corporate vision and mission statements of Meta Platforms, Inc.Ĭonsidering Meta’s strategic shift to the metaverse, encompassing Facebook’s social media and related services, the current corporate vision statement accurately represents the business and its operations. This strong force, shown in the Porter’s Five Forces analysis of Meta Platforms Inc. In this context, Meta’s corporate mission statement and corporate vision statement direct the business toward success despite the strong force of competition. The company’s current and possible future competitors include Alphabet (Google), Amazon, Twitter, Snap (Snapchat), Apple, and Microsoft. Operating some of the most popular online social media services, such as Facebook and Instagram, Meta depends on advertising revenues and online operations, placing the business in competition with large online technology firms. (formerly named Facebook, Inc.) satisfies its corporate mission statement toward fulfilling its corporate vision statement, while promoting innovative changes in the online space. Meta Platforms Inc.’s (Facebook Inc.’s) corporate mission statement and corporate vision statement point to strategic growth and expansion through the metaverse. Army General Dempsey hosts a town hall meeting with service members via Facebook in 2014.

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