Concern over use of social media involves FERMA & IRM
Firms still wary over social media
Companies cautious over social media
Tuesday, October 25th 2011 by Catherine Ferguson
A survey by the Federation of European Risk Management Associations (FERMA) and the Institute of Risk Management (IRM) of companies across Europe has found that many are concerned about the use of social media.
The companies surveyed said that they were worried by the risk posed by social media. The main risks, according to the survey, were that their reputations may be damaged by social media posts and the loss of important data through a social media platform.
Out of 186 company executives, almost half said that they were concerned with the potential damage that could be done by platforms such as Facebook and Twitter. A fifth said they had worries about the loss of confidential information through social media, which many firms use as part of their managed emarketing agenda.
FERMA vice president, Michel Dennery, said: 1CWe have to take care of the really valuable information, the information that we use to make money, the information that gives us competitive advantage. It needs much more protection today because the environment is much more open.
Theft of customers’ information was highlighted by 43 per cent of respondents as a worry while damaging the buzz of social media worried 42 per cent of people in the survey.
The report also showed that 65 per cent of such companies represented had already set about creating formal social media guidelines to try and pre-empt any problems that may arise. However 14 per cent were merely planning on creating and implementing such policies with just 14 per cent of respondents having a role which involved any sort of PR.
A wide variety of industries, including telecoms, transport, energy, banking and transport, were involved in the study. Most respondents came from the UK with a number of other European countries also playing host to some companies.
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