The growth of internet usage has been increasing tremendously in the past years. Illustratively, Internet World Stats reports that there are approximately 1.25 billion internet users in the world. This is one of the triggers of the emergence of internet businesses nowadays. Most of the successful internet companies tend to develop and nurture a web community. The increasing importance of business communities confirms that there is a shift in business models from a traditional hierarchical system and competition into more collaboration and social networking, which are considered to be two of the most important web 2.0 concepts.

Web 2.0 is defined as “the philosophy of mutually maximizing collective intelligence and added values for each participant by formalized and dynamic information sharing and creation”. An interesting and currently much highlighted prospect for web 2.0 is to aid organizations to enhance their businesses by sustaining their competitive advantage. Web 2.0 has been successfully adopted by many of the successful internet companies, such as YouTube, Amazon, Wikipedia, and Facebook. They are able to maintain and raise their big web communities by applying web 2.0 concepts in their webstrategy. Therefore, the following research question arises: “how can more traditional organizations benefit from web 2.0 concepts?”. This article investigates this research question regarding the formulation of webstrategy benefiting from web 2.0 on any type of organization.

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