Social Networking and media are emerging as ubiquitous tools impacting us in every sphere of life. Social networking is emerging as a new tool which not only facilitates knowledge transfer and sharing but is also delivering business benefits [1]. Its use is no longer limited to just connecting us with friends and family. Not only organizations working in today’s virtual business environment but also education and the academia have been benefiting from it. Moreover tools such as social networking have been found as extremely reliable source of information dissemination times of disaster management. The aim of this paper is to present the various possible uses, benefits and probable considerations and risks associated with social networking and media.