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Web 2.0: How this is Shaping and Changing the Traditional Business Model
Abstract
With the emergence of Web 2.0, new online trends and technologies will continually emerge and play an increasingly important role in the way businesses operate. As Web 2.0 has revolutionised the internet by shifting from a published web to a user centric, user-generated web, businesses needed to understand how to change and adapt in order to benefit from these changes. This paper analyses organisations across a variety of industries, in order to determine how Web 2.0 is influencing the way companies conduct business – how they benefit, and what the advantages and disadvantages are. The authors will try to determine whether the traditional business models are changing or simply evolving through the utilisation of Web 2.0 technologies. This research contributes to the body of knowledge regarding the use of social media in commercial organisations.
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