A study, What do Corporate Directors and Senior Managers Know About Social Media , was conducted in April 2012 by the Conference Board and the Rock Center for Corporate Governance at Stanford University . The results were published last October. The study found that CEOs are regular users of social media both for personal and professional use. They actively use Twitter. But, they passively use social media, such as blogs, videos, and discussions. In other words, CEOs read blogs, watch videos, read discussion boards and rating sites. Companies appear to be relatively unsophisticated when it comes to formally gathering data from social media and incorporating them into corporate strategy, operational plans, and risk management. Directors and executives do not request this information nor rely on it for decision making. However, those who do rely on this information find it useful in pursuing corporate objectives. The findings suggest considerable opportunity for companies that develop a reliable infrastructure for capturing data from social media and distilling them into an actionable, usable form for corporate decision makers. The authors of the report recommend companies engage in the steps below. Assess your current capabilities Determine how social media fits with your strategy and business model Map your company's KPIs and risk factors to information available through social media Implement a "listening" system to capture social media data and transform it into metrics Develop formal policies and guidelines for employees, executives, and directors Consider the legal and behavioral ramifications Read the attached report. Should managers actively engage in social media? Explain. Is a company doomed if it does not use social media? Explain.