S.M. Concepts that are a must know

Buzzgain.com suggest that all social media users should have knowledge about five specific concepts. They state,  "In today’s social economy - where attention is a precious commodity, it’s important to know the five social media concepts that is influencing the online world". The five concepts they suggest are the following: Web 2.0 and 3.0, Blogs, Forums, Social Networking, and Social News.
Below are the three concepts are most important from buzzgain.com's article on social media concepts to know. The following information is from buzzgain.com. 

• Web 2.0 "refers to a perceived second generation of web development and design, that facilitates communication, secure information sharing, interoperability, and collaboration on the World Wide Web". Where as Web 3.0 refers to "the advanced form of web 2.0 which is poised to facilitate the internet users to such an extent that it may understand the browser’s need as and when he searches the web".  
• Blogs are personal websites, which are created by individuals. “Once a story is on a blog, keeping a lid on it is impossible,” says Neville Hobson, an independent consultant on blogging and podcasting. 
• Social networking websites function like an online community of internet users.  Depending on the website in question, many of these online community members share a common interest such as hobbies, religion, or politics or professional pursuits.  Once you are granted access to a social networking website you can begin to socialize.  Some of the popular social networking sites include orkut, linkedin, facebook etc.

Another helpful article I found on social media concepts is from searchenginepeople.com. Frank Eybsen suggests that there are seven concepts average users don't know much about. His concepts are the following: social media (in general), difference in social media and social networking, social bookmarking, copyright laws (yes, the still exist), twitter, It's private... or is it?, and web 2.0.

• Some people use the terms social networking and social media interchangeably, but they are two different entities. Social Media is the platform that allows you to share information through various forms. Where as social networking is what you do on social media outlets.
  
• When you find a website to which you want to return, you bookmark it in your internet browser, right? You do the same with social bookmarking. With social bookmarking, however, you can share your bookmarks (and resources) with the general public if you choose.
• When you find a website to which you want to return, you bookmark it in your internet browser, right? You do the same with social bookmarking. With social bookmarking, however, you can share your bookmarks (and resources) with the general public if you choose.
• Is your stuff private or public? The only way to truly protect yourself is to steer clear of social media and social networking, which isn’t an option for most people, so be sure to read the Terms of Service and Privacy Terms carefully when you sign up for a site like Facebook, MySpace, or Twitter.
  • Read more: http://www.searchenginepeople.com/blog/social-media-faq.html#ixzz1rrUBj5gD.