Social Media

Pros

1. Social networking can boost productivity and increase intercompany collaboration

2. Social networking can add business value because it allows people to connect with an endless diverse audience, which increases marketing capabilities and will make you a more efficient business person.

3. Launching a series of social networking profiles can help to strengthen business branding efforts by reinforcing the company's logo, slogan and message.

Cons  

1. One challenge to using social media in business is it can be difficult to quantify or justify the return on investment and the value of one channel over another

2. A key challenge with social networking in business is the need for increased governance and policies due to the unstructured nature of social networking.

3. Customers can use social networking platforms to air grievances on past experiences.

Potential Ethical, Moral, or Legal issues:

1. One of the controversies with social networking is that some claim that advertising violates users' privacy policies.

2. The main areas where users can get themselves in trouble when using social networking sites is through posting of defamatory content or content that infringes on intellectual property rights.

3. Active social networkers show a higher tolerance for activities that could be considered unethical

Potential Sources:

Online business networking and social networking. (n.d). Retrieved from http://www.businesslink.gov.uk/bdotg/action/detail?itemId=1081905974&r.i=1081912566&r.l1=1073858796&r.l2=1074298365&r.l3=1081903308&r.s=sc&r.t=RESOURCES&type=RESOURCES

We are social people. (2011). Retrieved from http://wearesocialpeople.com/the-social-media-phenomenon/#

Van Grove, J. (2012). VentureBeat. Retrieved from http://venturebeat.com/2012/02/02/facebook-ctr/

Poirier, G. (n.d.). What are the advantages and disadvantages of using social media to bring attention to a product?. Retrieved from...