Managing social media risks to reputation risk
A hot topic on the board agenda
Social media sites are more than just venues for chatting about politics, travel, and family. They are an ever-evolving source of valuable information on customer and third-party views with a special focus on their attitudes, experiences and opinions.
At the same time, social media is a probable source for reputation risks, such as brand/reputation damage, legal and regulatory compliance, security and privacy, and employee/HR issues.
Savvy board leaders are taking note. They are helping guide social media strategy to enable people inside and outside the organisation to connect, interact, and share information in new and more efficient ways, from recruiting and talent management to facilitating product development and enhancing supply-chain performance. Today, social media touches everyone, with a host of uses across nearly all functions in an organisation. Not only are board directors keeping a watchful eye on the impacts of social media on the organisation – they are also becoming participants.
Inside magazine issue 7, February 2015
Inside is Deloitte’s quarterly magazine offering an exclusive insight into best practices, trends and opportunities faced by our clients across all industries.
Inside focuses on the main hot topics relevant for the market (Asset management, Banking, Insurance, Public sector, Healthcare, Private equity, Real estate, TMT, Manufacturing and consumer business, Transport and logistics).