Social Media Strategy, Policy and Governance

Ernst & Young, 2012 IMA Conference Keynote

By now everyone knows that technology changes rapidly. Generally speaking, companies are braced for it. Social media technology, however, is qualitatively different. First, it has become a force for businesses to reckon with at breathtaking speed. Second, its effects are reaching across the entire spectrum of business activity, from product development and marketing to sales and customer support. And third, organizations don’t always have a choice about engaging in social media if their customers are already doing so.

This leads to a conundrum. Most organizations require a strategy to engage in social media, but the change social media has wrought is happening so fast and on such a large scale that the “why” and “how” of that strategy — and the risks involved — are not yet fully understood.

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