Social Media — The New Business Reality for Board Directors

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The social media phenomenon has made the leap from the consumer world to the boardroom. Directors are faced with sorting out how social media impacts the firms that they oversee and their own roles on Boards.

Social networks, media sharing sites, microblogs, online games and product review sites are all part of everyday life. Current media darlings like Facebook, Twitter and YouTube were unknown brands a few years ago, but now these social platforms have massive appeal and people from all age groups and demographics are signing up to take part. The global adoption of this phenomenon has a direct impact on your organization as employees, customers, investors and stakeholders participate in social communities.

Don’t underestimate the new rules of engagement. In social channels, customers create their own version of company ads on YouTube, whistleblowers use blogs and social communities to spread news like wildfire, employees can respond to internal requests for expertise in a nanosecond, and small firms have the reach of global brands by engaging communities anywhere in the world.

Let’s explore how social media can help you protect and improve shareholder value.