Before you all jump on the bandwagon, this is about monitoring and being involved in the workflow of company accounts, not controlling what employees say on their personal accounts. I cannot see anything bad about this and in fact when I first saw it yesterday I thought it was a nice business idea.
Effectively it is for companies with local branches (like a franchise) where head office wants some control over the official social media accounts of their sub-branches or franchisees. It means branches can run their own social media marketing, but head office can be involved in the workflow to ensure it fits in with corporate policy and marketing.
I'm sure its open to abuse, but what isn't?