2009 Finance & Business Operations Symposium (FBOS) Hidden Risks of Social Media May 15, 2009 Leslie White KiKi L’Italien Croydon Consulting, LLC Optical Society of America President Chapter & Student Services Manager Connecting Great Ideas and Great People

Learning Objectives Define Social Media or Social Technologies Identify the risks associated with social media Learn mitigation strategies and techniques

Social Media Exercise

Risk

Risk Management A discipline for dealing with the possibility that some future event may cause harm or create opportunity. Dealing with uncertainty . . .

Risk Management Innovation requires risk taking. Taking risks requires informed, fact-based decision making.

Risks of Social Media Business Liability Electronic security Personal Safety

Business Risks of Social Media Reputation & Brand Not participating in social media Participating badly

Reputation Risks

Risks of Not Participating in Social Media

Risks of Participating

Liability Risks

Electronic Security

Personal Safety

Risk Mitigation Key expectations of social media world Transparency Honesty Authenticity

Risk Mitigation Develop & implement social media strategy Adopt social media policy Launch social media initiative Monitor results (select proper metrics) Revise and/or expand social media program as needed Develop crisis communication plan

Other Important Policies Code of Conduct or Ethics Conflict of Interest Antitrust Blogging policy (can be included in social media policy) User agreements or term of use Disclaimers Linking agreement License agreement Logo use guidelines

Legal Protections Communications Decency Act Possible Immunity for Defamation Invasion of privacy misappropriation Digital Millennium Copyright Act Possible immunity for copyright infringement

Insurance Personal and Advertising Injury Publishers Liability/Media Liability Directors & Officers Liability Professional Liability

Connecting Great Ideas and Great People Contact Information Leslie T. White, CPCU, CIC, ARM, CRM President Croydon Consulting, LLC 410-544-0913 Lwhite@croydonconsult.com Twitter: @Ltwhite www.croydonconsult.com KiKi L’Italien Chapter & Student Services Manager Optical Society of America 202-223-8130 Klital@osa.org Twitter: @kiklitalien www.osa.org