Sharpen Decision Making
Tom Davenport, a professor of management and technology at Babson College, thinks that Facebook's biggest challenge is a cultural one, pointing to the company's surprise $1 billion purchase of Instagram last month.
"They need to move from a rapid and sometimes impulsive approach to decision-making (Instagram), which is probably suited to the 'gold rush days' of pre-IPO and new category development, to a more disciplined and sometimes less rapid process of deliberative decision making about opportunities, risks and executional approaches," he said. "Without becoming staid or too conservative."Davenport, author of the book Judgement Calls, believes that technology can help sharpen Facebook's strategy. "They need to start using best in class tools and analytics, not just for selling advertising but also managing their own decision-making about strategy over the long term," he explained, in an email. Where do you think Facebook shares will close on their first day of trading? Why not tell us in TheStreet's Facebook IPO poll. -- Written by James Rogers in New York. >To follow the writer on Twitter, go to http://twitter.com/jamesjrogers. >To submit a news tip, send an email to: firstname.lastname@example.org. Check out our new tech blog, Tech Trends. Follow TheStreet Tech on your wireless devices.