Overview
There are many ways to network, whether the traditional way of making connections through a group or club or non-traditional through hobbies or unrelated events. They all serve the same purpose of making close and valuable connections that allow for an equal exchange of knowledge or advice. Business networks are types of social networks which are developed to help executives connect with other managers and entrepreneurs to further each other's interests by forming mutually beneficial business relationships. By doing so, they can both each other's business interests by forming mutually beneficial business relationships. Business networking is a way of leveraging your business and personal connections to help you bring in new customers, vendors or to get great advice for running your business. There are several prominent business networking organizations that create models of networking events. When followed, the models allow the business person to build new business relationships and generate business opportunities simultaneously. A professional network service is an implementation ofHistory
Before online business networking, face-to-face networking was the only option for business people. This was achieved through a number of techniques such as trade show marketing and loyalty programs. Though these techniques have been proven to still be an effective source of making connections and growing a business, many companies now focus more on online marketing due to the ability to track every detail of a campaign and justify the expenditure involved in setting up one of these campaigns.Ethics
Networking can be an effective way for job-seekers to gain a competitive edge over others in the job-market. The skilled networker cultivates personal relationships with prospective employers and selection panelists, in the hope that these personal affections will influence future hiring decisions. This form of networking has raised ethical concerns. The objection is that it constitutes an attempt to corrupt formal selection processes. The networker is accused of seeking non-meritocratic advantage over other candidates; advantage that is based on personal fondness rather than on any objective appraisal of which candidate is most qualified for the position. There are some risks that must be considered when using and publishing on social media, because companies can be held liable for the content posted by their employees on blogs or social networks. According to Olswang it is necessary to prepare a clear privacy policy while also remaining compliant to protecting company data and adhering to the social media platform's privacy policy. This ensures the networker can still build their connections and not risk damaging the relationships they've built.Networked business
Many businesses utilize networking as a key element in their marketing plan. It helps to develop a strong feeling of trust between those involved and plays a big part in raising the profile of a company. Suppliers and businesses can be seen as networked businesses, and will tend to source the business and their suppliers through their existing relationships. As well as with the companies they work closely with. Networked businesses tend to be open, random, and supportive, whereas those relying on hierarchical, traditional managed approaches are closed, selective, and controlling. These phrases were first used by Thomas Power, businessman and chairman of Ecademy, an online business network, in 2009.Thomas PoweSee also
* Professional network service * Personal network * GuanxiReferences
*Entrepreneur Media, Inc. "The Right Way to Network on Social Media." Entrepreneur. Entrepreneur, 19 February 2015. Web. 9 May 2018. *Misner, Ivan. "What Is Business Networking, Anyway?" Entrepreneur. Entrepreneur, 29 August 2008. Web. 9 May 2018. *Misner, Ivan. "The 5 Types of Business Networking Organizations." Entrepreneur. Entrepreneur, 1 November 2017. Web. 9 May 2018. *Schweitzer, Sharon. "The Importance and Value of Business Networking." The Huffington Post. TheHuffingtonPost.com, 3 August 2017. Web. 9 May 2018. *Rizk, Elias.