Despite the promises of Web 2.0, few organizations have actually applied Web 2.0 principles in any significant way. Enterprises need something to assist them in realizing the potential of Web 2.0. Therefore, in Part I (Vol. 8, No. 2) of this two-part Executive Update series, we proposed the Web 2.0 Reference Model, which provides a holistic perspective for enterprises to consider the many constituents and factors that lead to the realization of Web 2.0 principles.