Social media is now a risk
Bristol Myers, as pioneers of the future, introduce a unknown business risk in their 2021 Annual Report:
“Increased use of social media platforms present risks and challenges.”
They are afraid of inappropriate use of certain media vehicles and of ‘inaccurate posts or comments’. All this according to them could damage their ‘reputation, brand image and goodwill.’
Sanofi follow as a fellow pioneer. Their management are scared of this new technology especially false information and inaccurate or inappropriate posts. They conclude:
“Such (inappropriate) uses of social media and mobile technologies could have an adverse effect on our reputation, business, financial condition and results of operations.” (my ‘inappropriate’ in brackets)
I guess other companies will follow in later years and social media will become a fashionable business risk for their annual reports.