The Web is becoming in many respects a powerful tool for supporting business strategy as companies are quickly becoming more and more reliant on new Web-based technologies to capitalize on new business opportunities. However, this introduces additional managerial problems and risks that have to be taken into consideration, if they are not to be left behind. In this chapter we explore the Web’s present and future potential in relation to information sharing, knowledge management, innovation management, and the automation of cross-organizational business transactions. The suggested approach will provide entrepreneurs, managers, and IT leaders with guidance on how to adopt the latest Web 2.0-based technologies in their everyday work with a view to setting up a business Web strategy. Specifically, Enterprise 2.0 is presented as a key enabler for businesses to expand their ecosystems and partnerships. Enterprise 2.0 also acts as a catalyst for improving innovation processes and knowledge work
