Friend or Foe? Facebook Helps Turn Stakeholders Into Friends

“Keep your friends close, but your enemies closer.” In the context of social media, a slight variation of this famous line from The Godfather: Part II is more apropos: Keep your friends close but, your stakeholders closer. Social media has certainly blurred the line between executives’ professional and personal lives, but one platform in particular continues to challenge basic norms: Facebook. Founded in 2004 by a wunderkind who wasn’t even old enough to drink, the social network was only open to college students for the first two years of its existence. When it opened its cyber-doors to anyone with a valid e-mail address in late 2006, its collegiate ethos still lingered.

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