WEB 2.0 AND SME

Web 2.0 and SME

Web 2.0 and SME

Introduction

Web 2.0 in the context of small and medium enterprises is growing in importance with Intel and other leading companies launching software aimed at this business segment. Businesses of all sizes use blogs, wikis and social networking applications that use Web 2.0 technology. The technology has extensive popularity as social software and is being used due to its functionality and cost effectiveness as well as the ease of the Internet.

What is Web 2.0?

Web 2.0 is the new interactive way of using the Internet and is attracting Internet users for personal and business reasons. The technology works by enabling users to work collaboratively and get actively involved in the creation of content and control personal data and information. Skill requirements are minimal, and the possibilities are endless, in this converging of applications and data with convincing results. Social networking, APIs, blogs, wikis and RSS are among the methods and applications that are used to share information and collaborate. Web 2.0 offers storage, interactive user interface, dynamic content, user participation and transparency (Battelle, 2005, pp. 45).

New Web 2.0 technologies combine personalized products into one suite, which includes blogging, wiki, podcasting and RSS feeds among other applications, for convenience of use in business scenarios. The integrated solution is ideal for small and normal enterprises with heightened capabilities. The suite from Intel runs on Red Hat Enterprise Linux, SUSE Linux Enterprise Server and Microsoft Windows. Web 2.0 is becoming very popular among companies and is being used to improve customer service and for perfecting internal communication.

Finance and Money

Small and medium enterprises can make use of the Web 2.0 technology as a smart way to manage client relations, marketing and finances in cost-effective ways. There are many applications which let small businesses record and track company finances and make assessments. Some tools allow monthly accounting and charting reports to manage and pay bills. Web 2.0 applications allow timesheets, invoicing and billing in appropriate ways (Anderson, 2006, pp. 31).

Communication and Collaboration

Communication and collaboration is vital in today's global marketplace. Web 2.0 offers group chat and password protected chat rooms for discussions among clients, vendors, colleagues and employees. The chat rooms offer confidentiality of company data and security. There are text chats and messengers available as well in the web based technology. Other choices in Web 2.0 applications are conferencing tools, creative workspace to share projects in real time, group calendars and applications for scheduling, planning and reminders (Dahlstrand, 2004, pp. 379).

Social Spaces

Social media and networking is central to today's business and has evolved as the new mantra for business promotion through the medium of interaction and discussions. Social networking sites use Web 2.0 technology and small and medium businesses can build brand awareness and building, through communities and forums to promote their services, product or brands (Helena, 2003, pp. 92).

Increasing customer power and declining of traditional marketing methods, have resulted in the use of social media and networking for business ...