This is because social media can offer many advantages for an enterprise, such as enhancing customer engagement, increasing brand awareness, improving market intelligence, and fostering innovation. However, social media also poses many challenges and threats, such as data breaches, privacy violations, reputational damage, legal liabilities, and compliance issues. Therefore, an enterprise needs to balance the business benefits and risk of using social media in the workplace, and establish a clear and consistent social media policy and governance framework that defines the objectives, roles, responsibilities, standards, and processes for managing social media activities and data.
Some of the sources that support this answer are:
* 1: This source provides a comprehensive guide on how to create a social media governance plan that covers the key elements of a social media policy, compliance management, security and risk mitigation, decision-making and approval workflow, and crisis management.
* 2: This source discusses the gaps, risks, and opportunities of social media governance in the context of Australian public communication. It identifies some of the best practices and recommendations for developing and implementing a social media strategy that aligns with the organizational goals and values, as well as the legal and ethical obligations.
* 3: This source explores the social media governance challenges and solutions for financial services companies. It highlights the importance of balancing the business benefits and risk of social media, and suggests some of the key steps to achieve effective social media governance, such as conducting a risk assessment, defining a social media policy, establishing a governance structure, monitoring and measuring performance, and reviewing and updating the strategy.