Social science: Fancy building your own social network?

« HSBC develops secret plan for ‘own version of Facebook' » said the headline from communications industry publication PR Week. The magazine claimed to have a leaked pitch document that laid out the banking giant’s plans to create their own social network to rival the likes of Facebook.

The story was picked up by several newspapers and across the internet to a mixed reception. Or « Doomed » as one commenter on the original article predicted. So it’s perhaps just as well that the bank says things are not quite what they seem. « There are no plans for the bank to introduce a social network », says James Thorpe, a spokesperson for HSBC.

According to Mr Thorpe the procurement department had decided the bank needed a list of preferred suppliers for social media services and had drawn up the document mentioned above. It got into the wrong hands and was misconstrued.

« Although your bank’s website might not seem like a natural fit for a place to share pictures of your cat, that doesn’t necessarily mean that niche social networks, or community platforms as they’re often known, have no place in your business plan », says Fiona Graham Technology of business reporter, BBC News. More

What is the key issue from this article, is how social networks, or community platforms become more important in the business world, in the implied need to have qualified people in the field of eJobs.