There are many ways companies can utilize social networking sites. For example, a company can create their own social networking site within their company so employees can have a better knowledge of they are working with. A downside to this is that the employees may spend too much time on these sites and it can distract them from work. I do beleve however that sites such as facebook will create company facebooks that will be used within companies that can be managed by the company itself. This can also be used to see whos doing what and how long they are spending on the site
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