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The Risks and Rewards of Social Media

Identify the risk and rewards associated with corporations using social media.

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What is Social Media?

Social media can be defined as a channel in which information is circulated and feedback is requested on a real-time basis ( Social media networks are considered very interactive and corporations can request feedback on new products, drive sales and encourage brand recognition ( With the openness of the internet, the use of social media networks has become easy. ( Social media networks are mostly borderless when it comes to laws, regulations and culture and these laws and regulations differ from country to country ( One of the main reasons that corporations are noticing social media networks in these days because the consumers are using them ( On the average in March 2010, the global consumer spent about six hours a month on social networks ( According to the Nielsen Company, as more and more people are joining social networks, corporations are becoming aware that they need to have a presence on these social media sites ( The Nielsen Company estimates that about $108 million was spent on ads on the social media networks and blogs in August 2009 ( More than 79 percent of the Fortune Global 100 corporations use at least one social media network, according to Burson-Marsteller and corporations are signing up for accounts with these ...

Solution Summary

The following problem discusses the risks and rewards associated with corporations using social media.