Doing social is the imperative part of the equation. This means making plans, defining objectives complete with outcomes, tracking and measuring success and making adjustments to the plan along the way. Most companies start doing social within their marketing and sales departments to drive traffic to their site and raise awareness about their products or services. This usually looks like marketing managers using social tools to broadcast their message to the world.
However, being social means building competencies across the organization that encourage, support and institutionalize the use of social tools by a broad cross-section of employees and other stakeholders. For an organization to be social, the people who are part of the organization should be able to use the tools available on the open web, and also have a clear voice and a comfort level about interacting with customers online.
An excellent posting: it is a big difference if "Social" is a Marketing effort only (driven by the Marketing people) or if "Social" is part of your business model and dedication to your audiences and customers (driven by the whole organization)! Just working to implement a broader approach in my department.