Social media is forever altering the dynamics of customer relationship management, marketing and corporate communications for many businesses. Companies can listen to, learn from, educate and inform customers by engaging them on many topics around product uses and applications. In addition, social media is providing opportunities to product development teams to share roadmaps and obtain early input from potential buyer groups on new product plans.
While these developments are presenting significant opportunities for companies to connect with their customers and others, they are creating a whole set of new problems. In this issue of Board Perspectives: Risk Oversight, we reveal 10 examples of business risks associated with social media.