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A social media policy is an internal document guiding employee interactions on platforms like Facebook, Instagram, and Twitter. As these platforms dominate information sharing, companies can enhance their brand identity but also face risks; inappropriate posts can harm reputations. This video discusses the role of social media policies and their essential components. Additionally, the creators, eFORMS, will provide a link to a customizable social media policy at the end of the video. It's crucial to differentiate between social media policies and social media strategies, as each serves distinct purposes within organizational communication.