The reasoning above is no joke. I've heard it many times.
My advice to any organization that approaches social media this way is simple: Don't.
Always start with understanding your own business - where you are and where you're heading. Then, build an understanding of the paradigm shift in communications that we're experiencing right now and try to find out how it will or might impact your business. What are the risks and opportunities for your business? How can you use your understanding of this paradigm shift to your advantage?
When you have a clear picture of these things, then you have a pretty good idea about where you might find use cases where social technologies can create value for your business and help you achieve strategic objectives.
Don't start with the tools. A fool with a tool is still a fool.