Corporate Governance and Social Media : A Brave New World for Board Directors
Publication of secret diplomatic cables through Wikileaks shocked governments and provided a sudden wake-up call to all who thought they were safe from the new power of social media. Consequences went well beyond mere embarrassment; they helped spa...
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| Format: | Brief |
| Language: | English en_US |
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World Bank, Washington, DC
2014
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| Online Access: | http://documents.worldbank.org/curated/en/2012/09/16750905/corporate-governance-social-media-brave-new-world-board-directors http://hdl.handle.net/10986/17092 |
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oai_dc |
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Digital Repository |
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Foreign Institution |
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Digital Repositories |
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World Bank Open Knowledge Repository |
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World Bank |
| language |
English en_US |
| topic |
3G ACCESS TO THE INTERNET ACCOUNTABILITY ACCOUNTING ADVERTISEMENT ADVERTISING BLOG BOARD MEMBERS BROADCAST BUSINESS OPPORTUNITIES BUSINESS SERVICES BUSINESS STRATEGY BUSINESS VALUE BUSINESSES CAPACITY-BUILDING CELL PHONE CEO CEOS CHIEF EXECUTIVE COMMUNITIES COMPANY CONFIDENCE CONSULTING SERVICES CONSUMER PROTECTION CONTROL INFORMATION COPYING COPYRIGHT CORPORATE BOARDS CORPORATE CULTURE CORPORATE GOVERNANCE CORPORATE GOVERNANCE REFORM CORPORATE SOCIAL RESPONSIBILITY CORPORATION CORPORATIONS CUSTOMER RELATIONSHIP CUSTOMER RELATIONSHIP MANAGEMENT DECISION MAKING DIGITAL DIGITAL COMMUNICATION DISCLOSURE REQUIREMENTS END-USER END-USERS EQUIPMENT ETHICS FINANCIAL PERFORMANCE FINANCIAL RISKS FINANCIAL SERVICES FLOW OF INFORMATION FREEDOM OF SPEECH GENERAL PUBLIC GLOBAL CORPORATE GOVERNANCE GOVERNANCE REFORM GOVERNMENT OFFICIAL IMAGE INDIVIDUALS INFORMATION TECHNOLOGIES INSTITUTION INTERNATIONAL BUSINESS KNOWLEDGE NECESSARY LEADERSHIP LEARNING LICENSES MANAGERS MARKET SHARE MARKETING MATERIAL MEDIA MEDIA RELATIONS MEDIA TECHNOLOGIES MEDIUM ENTERPRISES MOBILE PHONE MOBILE PHONE SUBSCRIBERS NETWORKING NETWORKS NEW TECHNOLOGIES PERSONS PHOTOS POLITICAL AGENDAS PRIVACY PRIVATE SECTOR PROGRAMS PROPRIETARY PUBLIC COMPANY QUERIES REAL TIME RESULT RESULTS RISK AVOIDANCE SITES SOCIETY STAKEHOLDER STAKEHOLDERS SUBSIDIARY SUPPLY CHAIN TELEPHONE TELEVISION TRADE SECRETS TRADE UNIONS TRANSISTORS TRANSPARENCY UNIONS USERS VIDEO VIDEOS WEBSITE WHITE PAPER WORKING HOURS |
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3G ACCESS TO THE INTERNET ACCOUNTABILITY ACCOUNTING ADVERTISEMENT ADVERTISING BLOG BOARD MEMBERS BROADCAST BUSINESS OPPORTUNITIES BUSINESS SERVICES BUSINESS STRATEGY BUSINESS VALUE BUSINESSES CAPACITY-BUILDING CELL PHONE CEO CEOS CHIEF EXECUTIVE COMMUNITIES COMPANY CONFIDENCE CONSULTING SERVICES CONSUMER PROTECTION CONTROL INFORMATION COPYING COPYRIGHT CORPORATE BOARDS CORPORATE CULTURE CORPORATE GOVERNANCE CORPORATE GOVERNANCE REFORM CORPORATE SOCIAL RESPONSIBILITY CORPORATION CORPORATIONS CUSTOMER RELATIONSHIP CUSTOMER RELATIONSHIP MANAGEMENT DECISION MAKING DIGITAL DIGITAL COMMUNICATION DISCLOSURE REQUIREMENTS END-USER END-USERS EQUIPMENT ETHICS FINANCIAL PERFORMANCE FINANCIAL RISKS FINANCIAL SERVICES FLOW OF INFORMATION FREEDOM OF SPEECH GENERAL PUBLIC GLOBAL CORPORATE GOVERNANCE GOVERNANCE REFORM GOVERNMENT OFFICIAL IMAGE INDIVIDUALS INFORMATION TECHNOLOGIES INSTITUTION INTERNATIONAL BUSINESS KNOWLEDGE NECESSARY LEADERSHIP LEARNING LICENSES MANAGERS MARKET SHARE MARKETING MATERIAL MEDIA MEDIA RELATIONS MEDIA TECHNOLOGIES MEDIUM ENTERPRISES MOBILE PHONE MOBILE PHONE SUBSCRIBERS NETWORKING NETWORKS NEW TECHNOLOGIES PERSONS PHOTOS POLITICAL AGENDAS PRIVACY PRIVATE SECTOR PROGRAMS PROPRIETARY PUBLIC COMPANY QUERIES REAL TIME RESULT RESULTS RISK AVOIDANCE SITES SOCIETY STAKEHOLDER STAKEHOLDERS SUBSIDIARY SUPPLY CHAIN TELEPHONE TELEVISION TRADE SECRETS TRADE UNIONS TRANSISTORS TRANSPARENCY UNIONS USERS VIDEO VIDEOS WEBSITE WHITE PAPER WORKING HOURS Chaher, Santiago Spellman, James David Corporate Governance and Social Media : A Brave New World for Board Directors |
| relation |
Private Sector Opinion;no. 27 |
| description |
Publication of secret diplomatic cables
through Wikileaks shocked governments and provided a sudden
wake-up call to all who thought they were safe from the new
power of social media. Consequences went well beyond mere
embarrassment; they helped spark the first 'Arab
spring' uprising in Tunisia, and other forms of social
media helped sustain popular dissent elsewhere in the Middle
East and North Africa region. What quickly became obvious is
that communications online had a demonstrated a new capacity
to upend political agendas everywhere. Widespread use of
social media has equal potential to transform corporate
agendas. Tools used at Tahrir Square are also available in
the capital market for use by directors as much as by
disgruntled employees, by consumers both satisfied and
aggrieved, by competitors, and by shareowners both retail
and institutional in confrontations with the board. By the
same token, though, corporations can use social media
channels creatively to improve stakeholder loyalty, and
improve performance. Corporations can develop new means of
constructive dialogue with different constituencies.
Benefits might include early warning of threats,
identification of new ideas, and amplified means of
responding. New communication channels can be a force
multiplier and a risk management tool to advance the
interests of the business. Still, corporate governance and
social media are trends newly met, and market participants
are only at the very beginning of a learning curve. Santiago
Chaher and James David Spellman do a powerful service by
providing a forensic analysis of how social media work. The
authors sketch out latest developments. Then they focus on
what a forward-thinking board needs to know to ensure that
the company is ready to manage the risks and take full
advantage of the opportunities presented by social media.
Part of the challenge is for individual directors to educate
themselves about social media from technology to
terminology. They need to know the right questions to ask to
test whether the firm is leading or being led. They need to
investigate how all the various stakeholders the company
affects are using social media. And, most importantly, they
have to understand that this is an ongoing, not a one-off,
learning process. |
| format |
Publications & Research :: Brief |
| author |
Chaher, Santiago Spellman, James David |
| author_facet |
Chaher, Santiago Spellman, James David |
| author_sort |
Chaher, Santiago |
| title |
Corporate Governance and Social Media : A Brave New World for Board Directors |
| title_short |
Corporate Governance and Social Media : A Brave New World for Board Directors |
| title_full |
Corporate Governance and Social Media : A Brave New World for Board Directors |
| title_fullStr |
Corporate Governance and Social Media : A Brave New World for Board Directors |
| title_full_unstemmed |
Corporate Governance and Social Media : A Brave New World for Board Directors |
| title_sort |
corporate governance and social media : a brave new world for board directors |
| publisher |
World Bank, Washington, DC |
| publishDate |
2014 |
| url |
http://documents.worldbank.org/curated/en/2012/09/16750905/corporate-governance-social-media-brave-new-world-board-directors http://hdl.handle.net/10986/17092 |
| _version_ |
1764435140890591232 |
| spelling |
okr-10986-170922021-04-23T14:03:33Z Corporate Governance and Social Media : A Brave New World for Board Directors Chaher, Santiago Spellman, James David 3G ACCESS TO THE INTERNET ACCOUNTABILITY ACCOUNTING ADVERTISEMENT ADVERTISING BLOG BOARD MEMBERS BROADCAST BUSINESS OPPORTUNITIES BUSINESS SERVICES BUSINESS STRATEGY BUSINESS VALUE BUSINESSES CAPACITY-BUILDING CELL PHONE CEO CEOS CHIEF EXECUTIVE COMMUNITIES COMPANY CONFIDENCE CONSULTING SERVICES CONSUMER PROTECTION CONTROL INFORMATION COPYING COPYRIGHT CORPORATE BOARDS CORPORATE CULTURE CORPORATE GOVERNANCE CORPORATE GOVERNANCE REFORM CORPORATE SOCIAL RESPONSIBILITY CORPORATION CORPORATIONS CUSTOMER RELATIONSHIP CUSTOMER RELATIONSHIP MANAGEMENT DECISION MAKING DIGITAL DIGITAL COMMUNICATION DISCLOSURE REQUIREMENTS E-MAIL END-USER END-USERS EQUIPMENT ETHICS FINANCIAL PERFORMANCE FINANCIAL RISKS FINANCIAL SERVICES FLOW OF INFORMATION FREEDOM OF SPEECH GENERAL PUBLIC GLOBAL CORPORATE GOVERNANCE GOVERNANCE REFORM GOVERNMENT OFFICIAL IMAGE INDIVIDUALS INFORMATION TECHNOLOGIES INSTITUTION INTERNATIONAL BUSINESS KNOWLEDGE NECESSARY LEADERSHIP LEARNING LICENSES MANAGERS MARKET SHARE MARKETING MATERIAL MEDIA MEDIA RELATIONS MEDIA TECHNOLOGIES MEDIUM ENTERPRISES MOBILE PHONE MOBILE PHONE SUBSCRIBERS NETWORKING NETWORKS NEW TECHNOLOGIES PDF PERSONS PHOTOS POLITICAL AGENDAS PRIVACY PRIVATE SECTOR PROGRAMS PROPRIETARY PUBLIC COMPANY QUERIES REAL TIME RESULT RESULTS RISK AVOIDANCE SITES SOCIETY STAKEHOLDER STAKEHOLDERS SUBSIDIARY SUPPLY CHAIN TELEPHONE TELEVISION TRADE SECRETS TRADE UNIONS TRANSISTORS TRANSPARENCY UNIONS USERS VIDEO VIDEOS WEBSITE WHITE PAPER WORKING HOURS Publication of secret diplomatic cables through Wikileaks shocked governments and provided a sudden wake-up call to all who thought they were safe from the new power of social media. Consequences went well beyond mere embarrassment; they helped spark the first 'Arab spring' uprising in Tunisia, and other forms of social media helped sustain popular dissent elsewhere in the Middle East and North Africa region. What quickly became obvious is that communications online had a demonstrated a new capacity to upend political agendas everywhere. Widespread use of social media has equal potential to transform corporate agendas. Tools used at Tahrir Square are also available in the capital market for use by directors as much as by disgruntled employees, by consumers both satisfied and aggrieved, by competitors, and by shareowners both retail and institutional in confrontations with the board. By the same token, though, corporations can use social media channels creatively to improve stakeholder loyalty, and improve performance. Corporations can develop new means of constructive dialogue with different constituencies. Benefits might include early warning of threats, identification of new ideas, and amplified means of responding. New communication channels can be a force multiplier and a risk management tool to advance the interests of the business. Still, corporate governance and social media are trends newly met, and market participants are only at the very beginning of a learning curve. Santiago Chaher and James David Spellman do a powerful service by providing a forensic analysis of how social media work. The authors sketch out latest developments. Then they focus on what a forward-thinking board needs to know to ensure that the company is ready to manage the risks and take full advantage of the opportunities presented by social media. Part of the challenge is for individual directors to educate themselves about social media from technology to terminology. They need to know the right questions to ask to test whether the firm is leading or being led. They need to investigate how all the various stakeholders the company affects are using social media. And, most importantly, they have to understand that this is an ongoing, not a one-off, learning process. 2014-02-18T22:40:37Z 2014-02-18T22:40:37Z 2012-09 http://documents.worldbank.org/curated/en/2012/09/16750905/corporate-governance-social-media-brave-new-world-board-directors http://hdl.handle.net/10986/17092 English en_US Private Sector Opinion;no. 27 CC BY-NC-ND 3.0 IGO http://creativecommons.org/licenses/by-nc-nd/3.0/igo/ World Bank, Washington, DC Publications & Research :: Brief Publications & Research |