Social networking isn't a fad.

A fad is something that is very popular with a small group of people for a short period of time. -Wikipedia

Facebook is hardly 'a small group of people' and Wikipedia is hardly an initiative that will last 'for a short period of time'.

Social Networking in the work place creates revenue and saves money.

If social networking didn't help companies make money, it wouldn't last. If it didn't provide immediate and measurable value, it would have already gone the way of the dodo bird. Instead, social networking is connecting entire work forces and helping companies turn a bigger profit.