Social Media Risk and Governance: Managing Enterprise Risk

Social Media Risk and Governance: Managing Enterprise RiskIn A Recent Survey, Percent Of Executives Polled Said Their Company Was Concerned About The Possible Risks Posed By Social Media, But Percent Do Not Perform A Social Media Risk AssessmentThis Book Is A Comprehensive, Practical Guide To The Components And Considerations That Make Up A Social Media Governance Strategy, Spanning Both External Communications Channels Such As Facebook, Twitter And LinkedIn, As Well As Enterprise Social Networks Within An OrganizationPhil Mennie, PwC S Global Social Media Risk And Governance Leader, Addresses Key Issues Such As Policy Evaluation And Planning, Information Security And Fraud Risks, How To Respond To A Crisis And How To Archive Data The Book Empowers Professional Users Of Social Networks To Collaborate With Their Compliance And Risk Management Counterparts, And To Harness The Power Of Social Media Safely And Successfully For Their Organization This is a business handbook attempting to find the balance between companies harnessing social media for their own advantage and locking it down while alienating their millennial employees It assumes the reader has only a vague idea what Twitter is, which may well be the case for their target audience The best part for me, reading it shortly after the Target Troll and Target s inspired response was the case studies of particularly egregious fails DeGiorno s response to the WhyIStayed campa This is a business handbook attempting to find the balance between companies harnessing social media for their own advantage and locking it down while alienating their millennial employees It assumes the reader has only a vague idea what Twitter is, which may well be the case for their target audience The best part for me, reading it shortly after the Target Troll and Target s inspired response was the case studies of particularly egregious fails DeGiorno s response to the WhyIStayed campaign on domestic violence was He had pizza There is risk to almost everything in business and social media is no exception, so here is a book that promises to help the reader manage such risks within their enterprise.It certainly is a different take on a familiar theme, as too many social media books tend to gloss over or downplay the risks other than the likelihood of getting a negative press Doing social media need not be burdensome, yet it can be wise to have some ground rules in place It is not just a case of watching what you sa There is risk to almost everything in business and social media is no exception, so here is a book that promises to help the reader manage such risks within their enterprise.It certainly is a different take on a familiar theme, as too many social media books tend to gloss over or downplay the risks other than the likelihood of getting a negative press Doing social media need not be burdensome, yet it can be wise to have some ground rules in place It is not just a case of watching what you say some communications might arguably be market sensitive and thus the whole panoply of disclosure requirements become relevant Make a mistake Maybe it is not enough to delete it you might need to delete it yet retain a copy Especially if lawyers or regulators get involved.So this book was quite a welcome, refreshing read and not at all dry and fusty as you might imagine by its title The author takes you carefully through the whole process, from analysing potential risk and planning your social media interactions topractical issues such as what to do when problems strike The text is backed up by real world examples from many top international companies.Clearly there are some limitations this book cannot advise you about every bit of legislation that could affect your company, as laws vary from country to country, yet it will give you enough ammunition to go looking into what may apply to you Even multi jurisdictional dilemmas are covered.It is better to be forewarned and forearmed Whilst this book is clearly aimed at the larger company, there is still a fair amount of information that can be relevant or of interest to the smaller company it just may need a bit of downscaling and interpretation.If you operate in a regulated industry it is possible that there are already mandatory compliance rules concerning your use of social media, although a lot of this can just be an extension of existing custom and practice Yet still quite a few sectors have not got themselves organised and it seems that common sense as a policy is not necessarily in vogue It might be better to try and have a policy ready It need not be onerous and it could be a lifesaver Many employees can form a bit of a blind spot when it comes to social media and whilst they don t intentionally mean to harm the company, their lack of thought or consideration of the situation can mean that problems find them and your company So it is better to have a clear set of rules about who can be active on social media and how such communications are used.Reduce the risk and boost the benefit What is there not to like This book will help you ensure that your company s social media presence is less traumatic It can t get you Facebook likes or Twitter followers but it might stop the odd lawsuit or two plus it may keep your social media followers loyal by doing the right thing.In conclusion, an interesting book that manages to make an important yet uninteresting subject interesting Just like insurance, you hope never to need to claim on its coverage, yet it is wise to ensure you have sought to analyse all risk and implemented damage limitation strategies ahead of time.Autamme.com The most formidable barrier to a business achieving a successful social media presence is the lack of a risk reduction plan Because there are so many stakeholders with differing agendas, the lack of a social media governance strategy can turn a small error into a major crisis.Risk reduction is muchthan responding to negative comments on consumer opinion sites such as Yelp Minnie s new book Kogan Page, 37.95 is a comprehensive guide to formulating and constructing a set of policies and The most formidable barrier to a business achieving a successful social media presence is the lack of a risk reduction plan Because there are so many stakeholders with differing agendas, the lack of a social media governance strategy can turn a small error into a major crisis.Risk reduction is muchthan responding to negative comments on consumer opinion sites such as Yelp Minnie s new book Kogan Page, 37.95 is a comprehensive guide to formulating and constructing a set of policies and tools for handling risks in five areas Reputational, Information Security, Operational, Financial, and Regulatory Compliance Using case studies and best practice results, many of which have been discussed in my blogs, the book identifies the ways stakeholders can respond to information security breakdowns, fraud, marketing blunders, crisis incidents, data theft, and the lack of compliance with regulatory requirements It is gratifying to see Mennie s agreement that proper moderation is one of the most successful ways of reducing risk.Occasionally, Mennie spends too much time developing models of strategic approaches, such as how to engage the support of leaders at the top of an organization, and too often, the result of a case study was a termination of the social media effort instead of addressing the issue publicly But overall, Social Media Risk and Governance is a clear map that walks you through the social media minefield and shows you how to disarm each one When you face your first issue, and you will, the preparations you learn here will help you minimize the damage I really enjoined this book, it wasn t dry like most business books are but in fact it was pretty entertaining, especially some examples and it does get you thinking The days when social media was only used occasionally and in a spare time are long gone Its everywhere now as well as work Coming from a finance background I found it particularly useful and relevant.

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  • Paperback
  • 230 pages
  • Social Media Risk and Governance: Managing Enterprise Risk
  • Phil Mennie
  • 20 February 2017
  • 0749474572