Board members need to understand the factors that impact their businesses. Economics, politics, and sector shifts are all vital issues on the agenda in the boardroom. But the agenda needs to keep pace with what is influencing business, and amongst the things that board members need to fully appreciate is the growing influence and power of social media. It is not just about political uprisings any more.Let me illustrate with a real world experience that has confirmed some of the discussions I've been having around the boardroom table:
On the morning of Monday, Aug. 1, I woke up to a Groupon offer in my mailbox. The headline was "Fatboy Buggle Up Beanbag 60% Off". I'm a big fan of Fatboy's offbeat beanbags — we have several in our house — so I clicked through to see more. But looking at the website, and clicking through to the supplier, I didn't see any reference to the Fatboy brand. Further examination led me to realize that this wasn't a real Fatboy, but rather a knockoff.
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