Davos: businesses exposed by social media

From today’s Australian:

“And Davos confirmed that the Facebook social networking and mobile technology revolutions were now a priority agenda item for Australian business leaders extending from retailing (Mr Goyder) and banking (Mrs Kelly) to construction (Mr King) and business services (Ms Walker).”

Westpac CEO Gail Kelly said that social media meant that “business was more exposed to issues being magnified and accelerated at digital speed”.

“There are big implications for the way you manage media and marketing, the way you manage your brands and your reputation. The immediacy of feedback means you need to be listening and engaging a lot more.”