Social Networks R Hot, Even for Execs

BusinessWeek on September 11, 2006

Though much of the ink in the tech trade press has been devoted to the use of social networking inside the enterprise, executives are making good use of such networks outside company firewalls as well. Examples: Companies like Microsoft and Starbucks cruise online networks such as LinkedIn looking for potential hires. Goldman Sachs and Deloitte keep in touch with alumni via their own networks, hiring back some former workers and forging bonds with alumni that could end up as clients. Intuit has created a network to build customer brand loyalty. This article is filled with examples of positive results garnered from such networks, along with a few caveats, primarily concerning privacy, loss of corporate control and information overload.