Stocks said knowledge is power and social is all about sharing knowledge, with new or innovative ideas living or dying on the back of public opinion in the social world.
“The beauty about social media is there are no barriers," she said. “Anybody who wants to have a voice can on social media."
Hitting back for the negative, IBM's Andrew Grill said that far from disrupting the hierarchy, social media was just helping it evolve, citing the hoops business are made to jump through often to just send a tweet.
“Social media is actually increasing the level of hierarchy," he said. “There are so many more jobs for lawyers, for social media managers, that have to get everything approved."
He said the internet itself had a strict hierarchy that needed to be followed if businesses were to have any success.
"If you want your website to be found by Google you have to follow Google's rules. If you want to sign up for Facebook you have to give Facebook what they want. If you want to use Twitter you have to learn how to use hashtags and 'at' symbols."
In response, ANZ CEO Mike Smith said social media was changing the way leadership works because a linear control structure is a concept no longer effective in the modern age.
“The business hierarchy is not dead but it is being killed," he said. “It's being killed by social media and by technology."
Smith said organisations and politicians were now forced to respond to social demand for change, rather than internalising as they may have done in the past.
"[Businesses] need so much more agility in how we manage change and social is a great way to communicate," he said.