You could apply the same benefit/risk analysis to any form of corporate communications. The difference is that blogging, which is just a kind of Web page, a container for content, applies the notion that markets are conversations, which is not build into the DNA of most corporations. Unleashing employees to blog or joining in the conversation is not without risks, but the alternative of trying to control the message and ignore the voices inside and outside of the organization is riskier.
Read Calculating the ROI of corporate blogging from ZDNet and explore the idea that markets are conversations in a free online version of “The Cluetrain Manifesto.” More on commentary on blogging for business from ZDNet. (Different, but related: Donna Bogatin’s blog YouTube clip culture: user created vs. spam vs. brand sponsored on ZDNet)
Contribute your thoughts on The Cluetrain Manifesto at the Whats New Media Wiki.