Business networking

Not to be confused with Network marketing.

community, or on a larger scale via the Internet. Business

networking websites have grown over recent years due to
the Internets ability to connect business people from all
Networking is a socioeconomic business activity by
which groups of like-minded businesspeople recognize, over the world. Internet businesses often set up business
leads for sale to bigger corporations and businesses lookcreate, or act upon business opportunities.[1]
ing for data sources for business.
In the second half of the twentieth century, U.S. advocates for workplace equity popularized the term and Business networking can have a meaning also in the ICT
concept of networking as part of a larger social-capital domain, i.e. the provision of operating support to busilexiconwhich also includes terms such as "glass ceil- nesses and organizations, and related value chains and
ing", "role model", mentoring, and "gatekeeper" value networks.
serving to identify and address the problems barring nondominant groups from professional success. Mainstream
business literature subsequently adopted the terms and 2 General business networking
concepts, promoting them as pathways to success for all
career climbers. Since the closing decades of the twen- Before online business networking, there existed face-totieth century, networking has become an accepted term face networking for business. This was achieved through
and concept in American society. People now invoke a number of techniques such as trade show marketing and
networking in relation to everything from child-rearing loyalty programs. Though these techniques have been
to science to the business activities described here.[2]
proven to still be an eective source of income, many
companies now focus more on online marketing due to
the ability to track every detail of a campaign and justify
the spend involved in setting up one of these campaigns.[3]
1 Overview
Schmoozing or rubbing elbows are expressions used
among professional business professionals for introducing and meeting one another in a business context, and
establishing business rapport.

A business network is a type of business social network

whose reason for existing is business networking activity.
There are several prominent business networking organizations that create models of business networking activity
that, when followed, allow the business person to build
new business relationships and generate business opportunities at the same time. A professional network service
is an implementation of information technology in support of business networking.

3 Networked business
Many business use networking as a key factor in their
marketing plan. It helps to develop a strong feeling of
trust between those involved and play a big part in raising the prole and takings 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 and those of 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
rst used by Thomas Power, businessman and chairman
of Ecademy, an online business network, in 2009.[4]

Many business people contend business networking is a

more cost-eective method of generating new business
than advertising or public relations eorts. This is because business networking is a low-cost activity that involves more personal commitment than company money.
Country-specic examples of informal networking are
guanxi in China, blat in Russia, good ol' boy network in
America, and old boy network in the UK.
In the case of a formal business network, its members
may agree to meet weekly or monthly with the purpose of
exchanging business leads and referrals with fellow members. To complement this business activity, members often meet outside this circle, on their own time, and build
their own one-to-one business relationship with the fellow
member.

4 See also
Professional network service

Business networking can be conducted in a local business

1

5
Personal network

References

[1] Hubert sterle, Elgar Fleisch, Rainer Alt (2001), Business

networking: shaping collaboration between enterprises (2,
illustrated ed.), Springer, ISBN 978-3-540-41351-6
[2] Laird, Pamela Walker (2006). Pull: Networking and Success since Benjamin Franklin. Cambridge: Harvard University Press. ISBN 9780674025530.
[3] Peter SymondsWhy Oine Marketing Still Works in a
Digital World, The Display Hub by Display Wizard, 28th
July 2014
[4] Thomas PowerClosed Selective Controlling meets Open
Random Supportive, Sunzu The Art Of Business, 30 June
2009

REFERENCES

Text and image sources, contributors, and licenses

6.1

Text

Business networking Source: https://en.wikipedia.org/wiki/Business_networking?oldid=666225349 Contributors: Anthere, Ahoerstemeier, Ronz, Pingveno, Oneiros, Sole Soul, Enric Naval, DCEdwards1966, Mdd, Alansohn, John Quiggin, Ltbarcly, JeremyA, Toussaint,
Wbuist, Mandarax, BD2412, ElKevbo, Stefnet~enwiki, Maxal, Wknight94, Rwxrwxrwx, ZoFreX, SmackBot, Amit A., Gilliam, Cabe6403,
Clicketyclack, Rklawton, Kuru, Gobonobo, Axelschultze, SMasters, Gsmotorworks, TastyPoutine, Hu12, DougHill, ShelfSkewed, Chhajjusandeep, Trident13, Alaibot, Satori Son, JohnInDC, Barek, MER-C, Eurobas, Cameltrader, Peteark, Chris G, LedgendGamer, J.delanoy,
Mnpeter, Herbythyme, Uncle Dick, Wwwvk1, Bonadea, LeilaniLad, Refsworldlee, Caseyturton, Wikidemon, SirReid, LeaveSleaves,
Anisa3k, UnitedStatesian, Joaospam, Azimout, The Devils Advocate, Kchampcal, Quantpole, Mark.Crosby, Wiki marcds, Flyer22,
Susri20, Tbbn, ClueBot, Bob1960evens, Dr. Stephanie Morgan, Blackboxxx, Elisor, Mild Bill Hiccup, Trivialist, Three-quarter-ten,
Shsb88, Tnxman307, Robertledesma, Pinehome, SchreiberBike, Lexicon1, XLinkBot, Kindasmallworld, Stickee, Goldplace, Skarebo,
Addbot, Michigan411, MrOllie, Favonian, Ben Ben, FelixWriter, Amirobot, AnomieBOT, Dmjarvis, NYCBNG, Crecy99, Chandra.poori,
Capturetheworld, Dein gesicht, Kintish, Linda Mattacks, Sophus Bie, FrescoBot, Patchy1, CDT007, Pinethicket, Smuckola, Jandalhandler,
Michael.goldshmidt, Nirmal123, Dinamik-bot, Aoidh, MelissasDad, Exclusiveleads, Onel5969, Mean as custard, Raveup, USCFE1234,
Rollins83, John of Reading, PointandStare, RenamedUser01302013, Wikipelli, Tanner Swett, Tmfnetwork, Orange Suede Sofa, Rocketrod1960, ClueBot NG, Smartguycom, Azahrasmom, Sharadkumarp, Helpful Pixie Bot, Strike Eagle, Billydashorty, LeadsQuery, Yogesh.wagh53, Samkabila, Cbw yeuy, Galaxier, Lugia2453, Marjamol34, SMGeorge34, Ws.jdsullivan, J-Tenn, Harsinay, SJ Defender,
Milan Minsk, Kartingistka, Johnnycloroxer, Adamjsnape, Priyankcool1 and Anonymous: 152

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