This paper investigates the technology of Wikis and their current and possible future role within a corporate context. It argues that the phenomenon of Wikis should be understood as not one, but two concepts: A simple and intuitive technology which allows its users to generate documentation and support knowledge-based processes easily and deeply; and a management philosophy that manages knowledge creation through evolution of norms and values rather than directives and incentives. Managers seeking to make effective use of collaborative tools can benefit as much from adopting the Wiki’s management philosophy as by adopting the technology - but need to make sure that Wikis are used for what they are best for.