While there seems to be a never ending stream of social media consultants and agencies touting social media capabilities entering the market, there is still a lot of market opportunity.

According to a Deloitte "2009 Ethics and Workplace Survey," "55% of executives admitted that their companies do not have an official policy for social networks-and 22% would like to use social nets, but don't know how."

So, while many companies are eager to set their policies and jump in, it doesn't come without risk (obviously - what does?). Almost three-quarters of those surveyed by Deloitte agreed that "it's easy to damage a company's reputation on social media."

"While the decision to post videos, pictures, thoughts, experiences, and observations to social networking sites is personal, a single act can create far-reaching ethical consequences for individuals as well as organizations," said Sharon Allen of Deloitte to eMarketer. Dominos, anyone?