It's Time For Marketing To Embrace Weblog Concepts & Technologies. Allan Karl, former co-founder of Wirestone, has this to say about the power of weblogs as a form of corporate communications. [Up2Speed: Why Weblogs Will Become a Serious Form of Corporate Communications]
While a lot of leaders talk of the "power of weblogs in corporate communications" I feel the greatest strength of weblogs will come from internal team communications.
Weblogs provides more power for internal communications because of the tendency for writers to let down their guard -- i.e. sharing is at it's highest and it is easy to publish new information. Internally this is fine, engineers can share ideas, designers can bounce ideas around; but when this type of practice is done in public, you're bound to say the wrong thing.
With legal and economic tensions tighter than ever, it would only take one mistaken word on a real-time blog to send stock prices down. This unmanaged communications could even put you in trouble with regulatory agencies.
Think smart before implementing blogging in your company. Consider company communications policies and try internal "team weblogs" to get started.