Group 8 proposed a two-phased social media strategy for Shinsei Bank. Phase 1 involves engaging customers through social sites like Mixi and Mobage by creating an online presence, games, and applications. Phase 2 focuses on internal employee engagement through an intranet with tools like communities, blogs, and directories. The proposal estimates the total cost at $182,700 over 12 weeks to analyze, design, develop, test, deploy, and support the new social media initiatives.