So what’s the follow-up on the Facebook Terms of Service fiasco?

This week, in response to all of the upheaval that occurred earlier this month, Mark Zuckerberg announced the future of Facebook decision making. 

Facebook users now have an official role (if they choose to use it) in determining policies on the site. There are two governing documents to pay attention to: The Facebook Principles (set of values that guide the development of Facebook) and the Statement of Rights and Responsibilities (governs Facebook’s operations). Users will be able to review and offer thoughts/changes and eventually vote on these documents in the coming weeks.

From here, whenever Facebook amends one of these documents, the site will notify users and offer them time to make comments or vote about any changes if there is a lot of debate over a certain topic.

In a wrap-up of all the Facebook ToS drama this month, I think that the site is setting a social network precedent for user engagement in the decision making process. In a Brian Solis PR 2.0 post, he writes “the company is employing one of the social web’s greatest assets, people. Facebook is banking on a new genre of user-generated governance (UGV) to improve brand equity as well as customer interaction and loyalty.”

As a fellow Gen Yer, I’m a fan of Zuckerberg. He’s created a social nirvana and has made mistakes in a very public forum while developing it. He’s remained transparent when he’s made these mistakes. He learns and responds fast–all needed leadership traits in a 2.0 world. Another thing I’m a fan of? Facebook officially opened up their corporate blog to comments. Time to listen Facebook. And if you do–we’ll help you avoid shooting yourself in the foot next time. Promise.