The document discusses the risks and rewards of implementing a Web 2.0 strategy for organizations. It outlines that Web 2.0 allows for more participation from audiences through user-generated content and social media. While this can improve search rankings and engagement, it also carries risks like moderating user content and responding to any crises. The document recommends that organizations engage audiences, listen to feedback, and have crisis management plans in place to mitigate risks and maximize the potential rewards of a Web 2.0 strategy.