you learned what social network are and how they are redefining the definition of collaboration both on the Internet and within organizations. We discussed emerging technologies such as wikis and blogs and how they enable knowledge management. Then we discussed the importance of open source development and its emergence as an important new business model for profitable firms across the world. We followed with a discussion of virtual worlds, including some of the challenges they face and the value they are already providing to business. Finally,we discussed how IT is poised to act as a transformational technology for business that continue to find ways in which technology can continue to redefine the ways business operate, providing that IT does matter.