As I have posted before, I believe that social media will continue to increase it's role in marketing in both consumer and business markets. I don't it will replace traditional media but it will certainly work with it and be a factor going forward.
Companies should have a social media strategy that includes the content that should be put into the social stream about their company and which of their employees are authorized to tweet, blog, and more about the company.
On the flip side, social media can play a negative role for a company. Consider the capability of social messages about service problems with a company or product. Negative experiences, shared on social, get attention.
This factor needs to be considered by companies in all businesses. They need to be aware of what is being posted so that they can use that information in a positive way about their company and products. It gets more complicated as this medium grows.