[JackieRamse]

Advantages:

Facilitates open communication, leading to enhanced information discovery and delivery.
Allows employees to discuss ideas, post news, ask questions and share links.
Provides an opportunity to widen business contacts.
Targets a wide audience, making it a useful and effective recruitment tool.
Improves business reputation and client base with minimal use of advertising.
Expands market research, implements marketing campaigns, delivers communications and directs interested people to specific web sites.

Disadvantages:

Opens up the possibility for hackers to commit fraud and launch spam and virus attacks.
Increases the risk of people falling prey to online scams that seem genuine, resulting in data or identity theft.
Potentially results in negative comments from employees about the company or potential legal consequences if employees use these sites to view objectionable, illicit or offensive material.
Potentially results in lost productivity, especially if employees are busy updating profiles, etc.