"Social media and the board" from Deloitte's Center for Board Effectiveness outlines corporate social media risks and suggests how the board can effect its social media oversight responsibilities - both as relates to risk on a standalone basis - as well as strategy, as companies increasingly incorporate social media into their marketing, consumer & investor, and other core business strategies.
Recommended facets of board oversight include: (i) understanding how the company and its stakeholders and competitors use social media, (ii) social media governance (e.g., responsibility, accountability, resources), (iii) policy development, implementation, communication, monitoring, and enforcement, and (iv) risk assessment & management.
The publication includes ten thoughtful questions for boards to consider that will help facilitate their understanding of the company's current state of play and ongoing oversight in this area.