Web 2.0 permits the building of virtual small, relatively rapid to deploy applications, drawing data and functionality from a number of different sources as appropriate. These applications tend to bring power within the reach of suitably motivated individuals that was previously the preserve of corporations.Web 2.0 is about sharing: Code, content, ideas. That does not mean there is not money to be made. There is, but new business models need to be found whereby we collaborate on the platform(s) and make money by adding value over and above that which we and others have built together.
One of the most important aspects of Web 2.0 is the prevalence of social networking and bookmarking sites because there are websites such as Digg and Stumble Upon and these websites allow people to connect and share information. Blogs
and Wikis are greatly part of these sites because instead of having one author there is many people can contribute to the articles in order to expand, modify, correct, and verify them.
To become Web 2.0 Company, following core competencies are essential ones.
* Services, not packaged software
, with cost-effective scalability
* Control over unique, hard-to-recreate data sources that get richer as more people use them
* Trusting users as co-developers
* Harnessing collective intelligence
* Leveraging the long tail through customer self-service
* Software above the level of a single device
* Lightweight user interfaces, development models, AND business models