Social Media Networking: Quick Tips for Busy Directors

by Winnie Yu for Boardmember, First Quarter 2011.

Chances are, you’ve heard a great deal about social media. But if you haven’t gotten online and joined the conversation, you may be falling behind professionally, not just technologically.

“It’s very clear that social media have become part of the fabric of our professional life,” says Lucy P. Marcus, CEO of Marcus Venture Consulting and the non-executive board chair of Mobius Life Sciences Fund. “It’s a place where companies are talked about and where professional discussions are happening. As board directors, we ignore this at our peril.”

Marcus, who sits on several boards, says social media help her stay informed about issues affecting the corporations she serves and changes in corporate governance. It’s also a way to gather information. “A number of times I’ve posted queries, some of them fairly technical in nature, including in my capacity as chair of a board audit committee,” she says. “The answers I’ve gotten back were exceptionally well researched and useful.”

Of course, not all social media sites are suited to board directors. Facebook, for instance, may be better used to track down high school friends. MySpace is geared to a younger crowd. But other sites such as LinkedIn are noteworthy if you’re a board director. (continue reading… )


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