This document discusses the importance of managing corporate reputation on social media. It notes that with over 2 billion Facebook and 300 million Twitter users, social media allows for greater scrutiny of organizations. Poor communication or hidden facts can damage brands, while transparency builds trust. The risks of social media include reputation damage, information disclosure, and legal issues. However, having a public relations strategy and being responsive in crises can help mitigate risks. The document provides tips for protecting corporate reputation, such as responding quickly to issues and developing communication channels.