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SOCIAL MEDIA RISK AND GOVERNANCE: MANAGING ENTERPRISE RISK Phil Mennie. London: Kogan Page, 2015. 220 pages.
Since social media is a relatively new term with regard to the overall span of human communication, it is still everevolving and can mean different things to different people. Phil Mennie defines it as "any digital systems where people connect with each other" in his new book, Social Media Risk and Governance, where he attempts to create one of the first comprehensive guides on harnessing the power of internal and external social media - external social media encompassing what we would consider the traditional platforms (i.e., Facebook, Twitter, etc.) and internal social media meanin! enterprise social network platforms created by a company for employees to use and virtually collaborate. The author uses eight key elements essential in social media governance and risk management.
Risk. Those in the world of internal auditing are acquainted with the idea of risk assessment, but Mennie takes the most familiar terms (risk strategy, risk assessment, risk appetite, etc.) and applies them to social media, culminating in his social media risk maturity model. He also defines five types of risk that play significantly in the realm of social media:
1. reputational;
2. operational;
3. regulatory compliance;
4. financial; and
5. information security.
The ideas presented in...