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Social media’s unabated and unprecedented adoption and growth among masses across the globe and fast emergence of innovative, open, cost effective, at times free of cost, and flexible Social media platforms has opened hitherto unexpected or previously unknown vistas for business organizations. Adoption of social media platforms in organizations coupled with the openness, collaboration, interaction, and involvement inherent in social media has led to a state that these organizations are now being termed as Enterprise 2.0. Though social media platforms are being criticized by many for unwarranted attention and importance, embracing these platforms by people worldwide has a different story to tell. This paper is an attempt in this direction to look into the potential of social media for business organizations by focusing the attention on various prospects and problems associated with the adoption of these platforms in pursuing innovative and entrepreneurial expenditures of business organizations and to suggest some ways for effective and smooth incorporation of the same in the organizations. Researchers conclude that as far as the adoption of Enterprise 2.0 technologies is concerned, the most significant issue to deal with is the approach to be adopted for incorporation of these technologies in the organization in an integrative fashion. Research may prove to be beneficial for the academicians by giving them a comprehensive view of various aspects of the Enterprise 2.0 and for the practitioners by providing them guidelines for effective incorporation of the social technologies in their organizations.

Enterprise 2.0: a boon or bane for entrepreneurial and innovative expenditures?