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Five Steps to Managing Social Media Risks

By Douglas J. Wood

We are in the middle of a communications revolution with the advent of the phenomena collectively referred to as “Social Media.”

Everyone is familiar with the plethora of Internet offerings ' Facebook, YouTube, MySpace, Twitter, Digg, Yammer and LinkedIn to name just a few. There are more than 100 active social media sites, with millions participating in conversations every minute of the day, all over the world. Multinational companies and their CEOs are blogging, populating their walls on Facebook, and tweeting. It's an epidemic.

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