The last 10 years have seen extraordinary evolutions in the responsibilities boards of directors must assume.
The last 10 years have seen extraordinary evolutions in the responsibilities boards of directors must assume. From Sarbanes-Oxley to Dodd-Frank, directors have been subjected to new liabilities and new mandates for elevated levels of transparency and accountability. But during that time, another development has had perhaps an even greater impact on directors’ day-to-day duties than any strictures from Washington, D.C. It’s the social media revolution--and no public company, large or small, has eluded its impact.
Social media are no longer novel stakeholder and consumer outreach tools; they are the new normal in the modern business operations environment. The brand-building opportunities they present are nearly limitless. The risks they introduce are just as expansive. They affect everything from reputations to value propositions. And to many corporate leaders, they remain somewhat of a mystery.