With growing popularity of Web 2.0, companies and individuals have started taking about its pros and cons. I looked at many websites / blogs which present their views as how it would change the coming generation of net crawlers. Most of them have given several examples as how biggies of WWW industry are already changing their business function or making it compatible with web 2.0 tools. IBM is talking about how Web 2.0 will change next generation BPM while Microsoft is busy in promoting Mix 06. Google and Yahoo are on run to acquire new innovative concepts / web solutions so that they have an edge for final frontier.

In the midst of all this, I tried to find out, “how the spree of Web 2.0 can help people in fighting recession?” To answer this question, I started looking into the current and potential usage of these tools. People have started using most of the features but they can further leverage these techniques more into their applications, communications and even in infrastructure. These are some known initiatives. The next step is to actively use them, to understand the concept, to leverage them and to get benefited by them.

With Web 2.0, information can be pulled from a number of different places, and it can be personalized to meet the needs of a single user. Applications can be built on the existing applications that comprise the Web 2.0 interface. It could be said that Web 2.0 will allow the mass population to communicate with each other and spread ideas rather than receiving their information from a single authority.

Internal communication has always been a challenge for big organizations but this can be simplified by promoting Web 2.0 culture. Services like wiki, blog, forums, etc can help in better communication as well as to manage the knowledge. Initially organizations may need to do some extra effort to make people use them extensively. Later, it would become a part of their life style. Internal recruitment and other internal services will also get a boost by this initiative.

Very recently I was looking at a website called BlogTalkRadio.com. It’s a social radio network. If you want to communicate with entire world through radio, this website will provide you that feature. You can create your own live talk show which can be heard around the world without the need for fancy equipment or downloads. Great concept, isn’t it? Apart from just socializing through radio network, it also opens new dimensions for developing a revenue model. You can work with this website or even independently to draft your plans.

You may like to take a look at Podtech.net to get more inputs on Web 2.0 and some other revenue models associated with it.

There are multiple such innovative concepts coming up and with the emergence of Web 2.0 there’s surely a chance of getting into new businesses. We need to identify the correct approach and a smart and diligent effort to exploit that approach.