As the company moves toward the long-awaited initial public offering, there have been many recent articles about Facebook. Earlier this year, co-founder and CEO Mark Zuckerberg held a global conference of all employees. Everyone thinks he will announce an initial public offering, but (according to an article in the March 19 issue of Fortune), he uses this moment to talk about Fortis’ mission and priorities. This company. He admits that this eight-year startup with amazing growth and value is about to undergo a transformation that could undermine its success.
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He urged employees to focus on features that benefit the “piracy road”, relying on continuous improvement; wall slogans such as “perfect and not perfect”; prompting to continuously improve the customer interface and attract more than 800 million people worldwide to open Facebook accounts. He acknowledged that the IPO will expose the company to more rigorous scrutiny and investor requirements; more importantly, as a new millionaire, many employees may lose their edge. They may lose the desire to create new things and innovate. They may decide to conduct quarterly hacking overnight, and employees work differently than they do in their daily work; test ideas and consider new products.
Mission or money
Although our foreigners may think that Facebook is profitable, Zuckerberg has a broader and stronger vision. According to them, they do not create services to make money, but to make money to build better services. This spirit will now be tested in more than 3,000 employees. His goal is to open up more connections around the world. Use the Internet and technology to help people build relationships, share information, and make their voices faster and more personal than ever before.
If you just want to make money, this will lead to a series of decisions that are completely different from what is possible. I dare say that if your main goal is to make money, the company will not succeed today. Because if money is an important motivating factor and can be very powerful, then it is less enthusiastic. It is always a tool, a means to achieve a sufficient number of exchanges (purchase or operation), or the quantity itself has an impact or influence. other people.
People will try to get paid, but after a while, they will want to spend time with this money to do something meaningful for them. However, employees who are driven by their company’s mission, in this case, Facebook, will see the meaning of their daily work, as long as their value is recognized, economically, not economically, they will be extended to this mission. Employees receive real-time feedback on more than 100 billion connections between site users and immediately see their work display. They saw global connections and cultural transformations that occurred as a result of their work.
As Facebook grows at a rapid rate, the upcoming IPO is likely to change the culture that makes it successful. Zuckerberg tried to avoid this situation or at least carefully simulate his future culture. They developed training courses for new employees to train Facebook Way. They resist typical structures and hierarchical business processes by encouraging differences, experiences and healthy models rather than formal statements, and people are keen to show that the boss is wrong. Zuckerberg wrote a letter explaining why Facebook has an IPO to strengthen its five core values; focus on impact, act quickly, be brave, open, and create social value. It will continue to strengthen it because after the initial public offering, it will retain 22% of the capital and 57% of the authorized voting shares… in order to give a strong say in each decision.
The visionary founders or CEOs of companies such as Apple and Starbucks left the company after experiencing a significant growth point and once again focused on the mission that made them important. Zuckerberg acknowledges that he is working with early investors and employees to enable them to make money on the business. He changed himself to adapt to the new requirements, and his management team and himself must redouble their efforts to harness the machines and correct the route to keep their attention. Let us hope that Facebook Way will survive the transformation and its mission will continue. At the same time, I am about to post it on my Facebook page.