Social Technology: An Integrated Strategy and Risk Management Framework

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2019-01-01
Authors
Lenk, Margarita
Krahel, John
Janvrin, Diane
Considine, Brett
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Janvrin, Diane
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Accounting
Abstract

Accounting firms, corporations, and nonprofits use social technology to attract and develop employees, manage business intelligence, innovate business processes, engage clients, customers, and members, and disseminate information to investors and regulators. Despite its benefits, social technology's unique reach and speed create new risks for managers, accountants, and auditors. Based upon prior research and modifications to Kaplan and Norton's (2004) balanced scorecard and the COSO (2017) Enterprise Risk Management framework, we develop an Integrated Social Technology Strategy and Risk Management Framework to model risk management during strategy selection and implementation. A field investigation involving three large accounting organizations supports the framework's representativeness for the accounting profession. This research identifies significant benefits, risks, and effective risk management controls for social technology strategies, from governance to monitoring activities. These results suggest this framework's potential usefulness to managers, auditors, consultants, and researchers examining how social technology can provide value to organizations.

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This accepted article is published as Lenk, M., J. P. Krahel, D. Janvrin, and B. Considine. 2019. Social Technology: An Integrated Strategy and Risk Management Framework, Journal of Information Systems 33 (2): 129-153. doi: 10.2308/isys-52065 Posted with permission.

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Tue Jan 01 00:00:00 UTC 2019
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