Charting a Web 2.0 Strategy

Wikis, blogs, social networks, AJAX rarely does a day go by without these terms being hurled at from different directions and this has resulted in these becoming mnemonics for Web 2.0. The confusion around what constitutes Web 2.0 has led to the current situation where some limited aspects on Web 2.0 are being construed as the whole Web 2.0 enchilada. This is naturally leading to the question: What is Web 2.0?