Abstract

The transformation of Web 2.0, the emergence of semantic web technologies and their integration into the so-called Web 3.0 (Berners-Lee et al., 2001), and mainly the development of social networks have created new ways of competing among enterprises. Such innovations have created new possibilities for promoting products, changed the means of communication between firms and their customers, created new ways of assessing the needs and the psychology of the customers in terms of products, and changed ways of determining new advances and obtaining information on the part of managers or firm employees. At this stage, where technology has been recognized as one of the major sources of competitive advantage (Rohrbeck, 2010), not only the acquisition, but also the sharing of knowledge are becoming crucial innovation strategies (Soh, 2010). In the new environment, firms have to face the development of new models for web adoption, and even the transformation of their own businesses in accordance with the new developments (Teo and Pian, 2004, Wirt et al, 2010). The aim of this chapter is to explore the possible sources of competitive advantages open to industrial firms in the light of new innovations, and to highlight developments they should implement to take advantage of new situations by concentrating on the use of social networks and the work of community managers. © 2012 Nova Science Publishers, Inc. All rights reserved.