From Wikipedia, the free encyclopedia

A business network can be defined as a group of people that have some kind of commercial relationship. For example the relationships between boss-employee, buyer-supplier, and colleague-colleague.

According to experts, business networking functions best when individuals offer to help others to find connections, rather than "cold-calling" on prospects themselves. Business networking can take place outside of traditional business environments. For example, public places such as airports, restaurants, and movie line-ups provide opportunities to make new business contacts if an individual has good social skills.

Contents 1 Purpose 2 Use of Social Networking Services 3 Networking as a Systematic Activity 4 Examples of Business Networks 5 See also

Once a company has assessed their core capabilities, they can find themselves in a situation where they can’t compete on attributes as they don’t have the necessary resources. Because of this, networks are formed to utilize the advantageous attributes, and the importance here is dependent upon a mutually beneficial relationship that significantly adds to the value of a firm’s market offering. With this, there comes a critical responsibility to thoroughly analyse the respective competitors, as there are both significant opportunities and risks associated with network partnerships..

As business is increasingly carried on across the globe, there has become a strong need for business networking to take place on a more virtual level. There are a myriad of social networking tools which have been created to fulfil these needs. Together with software which provides access to on-line meetings and instant messaging, people are able to both access and increase their networks of business professionals without travelling.

Networking consists of exchanging information and establishing personal connections. People network in many different settings: on the telephone, in hallways, in company lunchrooms, at professional conferences, at trade shows, company meetings, classrooms, lounges, hallways, elevators, airplanes, trains, buses, hotel lobbies and waiting rooms. Some networking is carefully planned and some just happens. Networking is friendly, low-key and essential in our complex society.

People network to: advance their careers, advance their own business, to increase their impact on the world and to improve their social lives. This discussion will focus on the first objective: career advancement.

• Phase 1: Preparation
  • Evaluating one's career situation
  • Preparing one's "Accomplishments File (AF)"
  • Preparing a résumé
  • Obtaining information and making contacts

• Phase 2: Basic Networking
  • Friends and family
  • Networking with alumni
  • Networking (cautiously) within one's employing organization
  • Attending professional meetings
  • Participating in professional organizations

• Phase 3. Advanced Networking
  • Giving presentations
  • Publishing articles
  • Organizing a blog and/or a website
  • Arranging information interviews
  • Sending a broadcast letter
  • Using headhunters and employment agencies

• Phase 4. Continuing to network

• New Jersey Association of Women Business Owners, NJAWBO
• Bacon Eggs & Entrepreneurs
• BNI
• Business Ideas Network
• Cultural Creatives Business Network
• Doostang
• eWomen Network
• Grapevine Network
• EYP London
• LinkedIn
• BizPreneur

• Chief Networking Officer
• Entrepreneurial network
• Economic network
• Referral
• Social Network
• Social Capital
• List of social networking websites