Do you agree that social media is a by-gone for business?

From the PR Media Blog, we found this article on the parallels of social media and its importance (or lack of necessity) for companies in today's overloaded social media dominated world.

Whatever the opportunity, is there a platform that each business could utilise?

http://www.pr-media-blog.co.uk/the-real-reason-companies-fail-at-social-media/