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This paper enlightens one about the Web 2.0 phase of Internet which has brought a significant development in the eco system which has static Web content. The Web 2.0 phase has introduced applications and services in the ecosystem. The unique and the newly introduced services and applications give one some of the richest and very collaborative social experiences to the people who use them. They also help users to foster their intelligence and evolve different ways of solving problems, share different perspectives as well as have interactions with different communities. The efficient social computing capacity is the hall mark of Web 2.0 technologies. Even though there are many benefits of Web 2.0 technologies many business houses are struggling to maximize their usage. The needs and challenges of different business enterprises vary from each other. This must be taken into consideration while utilizing the social applications and services as well as making them successful. Moreover the concepts of not strong and strong related to the environments of social software particularly the rules and regulations in a business enterprise can help the organizations maximize their potential. Also, making investments in software like Microsoft Office SharePoint Server 2007 is very effective as it helps the business enterprises to experiment in order to realize what is best for their company's goals and needs.
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