If firms do not enable access to such collaborative tools, they will bring their own devices to work, which can create further risks to the organisation, Zetterstrom said, such as having confidential information being leaked out of the business.

But more than a technological change is required. A culture shift - which Zetterstrom recognised as a potential challenge in the move to social - to being more open and transparent is needed.

He added: "We believe the hierarchy will be much more flat if you embrace social business."

What will not change, however, is the significance of the governance model. Zetterstrom believed this needs to be as robust as ever to avoid the problems associated with expanding an organisation's boundaries to include external stakeholders.

"We are not saying the governance models will be less important. We believe it will be even more important," he insisted.