Networking is a socioeconomic business activity by which businesspeople and entrepreneurs meet to form business relationships and to recognize, create, or act upon business opportunities, share information and seek potential partners for ventures.
In the second half of the twentieth century, the concept of networking was promoted to help businesspeople to build their social capital. In the US, workplace equity advocates encouraged business networking by members of marginalized groups (e.g., women, African-Americans, etc.) to identify and address the challenges barring them from professional success. Mainstream business literature subsequently adopted the terms and concepts, promoted them as pathways to success for all career climbers.
A business network is a type of business social network which is developed to help business people connect with other managers and entrepreneurs to further 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 bring you regular supply of new business. There are several prominent business networking organizations that create models of networking events 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. Chambers of Commerce and other business-oriented groups may also organize networking activities. There are multiple different types of networking groups though and the best type for each individuals varies depending on the business they are in and prospects they want to meet.
Networking works in the favour of small businesses as the owners have to dabble with a variety of job functions in a small set-up. When they meet up with like-minded people, they learn from their experiences and get guidance on important matters. They can even find partners and angel investors through a networking group of experienced business owners. A plethora of networking events take place in every country where entrepreneurs can meet, expand their affiliations, educate themselves and feel empowered. Adopting smart tactics can go a long way in securing partnerships, friendships and acquaintances .
Before online business networking, there existed face-to-face networking for business. 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 income, 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. "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.
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.
Many businesses 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 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 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 first used by Thomas Power, businessman and chairman of Ecademy, an online business network, in 2009.
The Bachelor of Computer Information Systems (abbreviated BSc CIS) is an undergraduate or bachelor's degree that focuses on practical applications of technology to support organizations while adding value to their offerings. In order to apply technology effectively in this manner, a broad range of subjects are covered, such as communications, business, networking, software design, and mathematics. This degree encompasses the entirety of the Computing field and therefore is very useful when applying to computing positions of various sectors.
Some computer information systems programs have received accreditation from ABET, the recognized U.S. accreditor of college and university programs in applied science, computing, engineering, and technology.Brad Burton
Brad Burton (born 6 February 1973) is an English entrepreneur and motivational speaker who founded the international business networking group 4Networking. He is the author of four business books.British business group
A British Business Group (BBG) is an association or club of expatriate British business people. The aims of the group are typically to encourage trade with the host country and to provide a social environment for business networking. Typically a BBG will organize trade missions, lectures and social functions. Many BBGs fulfill a charitable role, although that is not a primary function.
BBGs are often closely associated with the local British consulate or embassy, and with related organizations, such as the Middle East Association or the UKTI.Business relationship management
Business relationship management (BRM) is a formal approach to understanding, defining, and supporting inter-business activities related to business networking.
Business relationship management consists of knowledge, skills, and behaviors (or competencies) that foster a productive relationship between a service organization (e.g. Human Resources, Information technology, a finance department, or an external provider) and their business partners.
BRM is distinct from enterprise relationship management and customer relationship management although it is related. It is of larger scope than a liaison who aligns business interests with IT deliverables.Cambridge Network
The Cambridge Network is a commercial business networking organisation for business people and academics working in technology fields in the Cambridge area of the UK. The businesses and organisations that make up its membership are typical of those found in the 'Cambridge Cluster' or Silicon Fen. The network is inclusive and encourages cross-sector and cross-business engagement so that new areas of innovation are started.
The network was founded in 1998 by Nigel Brown, David Cleevely, Fred Hallsworth, Hermann Hauser, Anthony Ross and Alec Broers.Chairman of Cambridge Network Ltd is Bill Parsons recently EVP of ARM, and current Board Members include founder Hermann Hauser, Prof Lynn Gladden Pro V-C of Cambridge University, David Halstead of Deloitte, Hugh Parnell of NW Brown, Prof Michael Thorne V-C of Anglia Ruskin University, Peter Taylor of TTP Group and Ken Woodberry of Microsoft.
Its President is the Vice-Chancellor of the University of Cambridge, Professor Sir Leszek Borysiewicz. Claire Ruskin is chief executive, appointed in March 2011 and David Mardle of Taylor Wessing is Company Secretary.Chief networking officer
The chief networking officer (CNO) is a business networking position in a company or other organization. The term refers less commonly to a technical executive position in the computer industry.Cocktail party
A cocktail party is a party at which cocktails are served. It is sometimes called a cocktail reception. A cocktail party organized for purposes of social or business networking is called a mixer.
A cocktail hour is sometimes used by managers of hotels and restaurants as a means of attracting patrons between 4 pm and 6 pm.
Some events, such as wedding receptions, are preceded by a cocktail hour. During the cocktail hour, guests socialize while drinking and eating appetizers. Organizers of these events use the cocktail hour to occupy guests between related events and to reduce the number of guests who arrive late.
Although it has been said that the inventor of the cocktail party was Alec Waugh of London, an article in the St. Paul Pioneer Press in May 1917 credited its invention to a certain Mrs. Julius S. Walsh Jr. of St. Louis, Missouri. Mrs. Walsh invited 50 guests to her house on a Sunday at high noon for a one-hour affair. "The party scored an instant hit," the newspaper declared, and stated that within weeks cocktail parties had become "a St. Louis institution".Alec Waugh noted that the first cocktail party in England was hosted in 1924 by war artist Christopher Nevinson.Commercial Real Estate Women
Commercial Real Estate Women (CREW) Network is a professional association for women in the real estate profession. There are various chapters of CREW throughout the United States which create programming focused on business networking, social and educational programs and the advancement of women in commercial real estate.InvestHK
Invest Hong Kong (Chinese: 投資推廣署) is the department of the Hong Kong SAR Government responsible for Foreign Direct Investment, supporting overseas, Mainland and Taiwanese businesses to set up and expand in Hong Kong. The department provides free advice and customised services to help businesses succeed in the city's economy. Founded on July 1, 2000, its mission is to confirm and strengthen Hong Kong as Asia's leading international business center and to attract economically and strategically important investment. Its first Director General was Michael Rowse.
The Investment Officers are organized into eight specialist sector teams covering Hong Kong's four pillar industries and six new growth sectors: Business & Professional Services; Consumer Products; Creative Industries; Financial Services; Information & Communications Technology; Innovation & Technology, Tourism & Hospitality and Transport & Industrial.
Partnering with clients on a long-term basis, InvestHK's sector-specific teams provide services which include:
Information on Hong Kong's business environment
Introductions to business contacts and service providers
Arrangement of visit programs
Business support facilitation
Public relations services during the launch or expansion of clients' Hong Kong businesses
Advice on relocations to Hong Kong – housing, schooling, healthcare, social and business networkingInvestHK is headed by the Director-General of Investment Promotion who reports to the Secretary for Commerce and Economic Development.Ivan Misner
Ivan Misner is the founder and chairman of the business networking organization BNI, called the "Father of Modern Networking" by CNN and the "Networking Guru" by Entrepreneur magazine.Linksys
Linksys is an American company selling data networking hardware products mainly to home users and small businesses. Its products include wired and wireless routers, Ethernet switches, VoIP equipment, wireless Internet video cameras, audio visual products and network storage systems.
Linksys was founded in 1988 by the couple Victor and Janie Tsao, both Taiwanese immigrants to the United States. The company was purchased by Cisco in 2003, and sold to Belkin, the current owners, in 2013. Its products were branded as Linksys by Cisco when it was part of Cisco.
Belkin has kept the Linksys brand and released new products under its name since acquiring it.Linksys products are sold to consumers off-the-shelf from consumer electronics stores, Internet retailers, and big-box retail stores such as supermarkets. Significant competitors in the home and small business networking market segment include D-Link, TP-Link and Netgear.LotusLive
IBM SmartCloud for Social Business is a suite of business networking and collaboration cloud-based services hosted by the IBM Collaboration Solutions division of IBM. The integrated services include social networking for businesses, online meetings, file sharing, instant message, data visualization and e-mail.
There are several IBM SmartCloud for Social Business offerings:
IBM SmartCloud Connections provides an integrated set of collaboration tools for creating user profiles, managing contacts, creating business networking with your contacts, instant messaging, social file sharing, managing collaborative tasks called "Activities," creating "Communities" and sending out surveys through "Forms" application.
IBM SmartCloud Meetings is a full-featured, web-based online meeting service, formerly known as Lotus Sametime Unyte Meeting.
IBM SmartCloud Engage Standard combines the functionality of LotusLive Connections and LotusLive Meetings. It was code-named "Bluehouse" and was first announced at Lotusphere in January 2008.
IBM SmartCloud Notes is a full-featured email, calendar, contact management and instant messaging service in the IBM cloud. With LotusLive Notes, users access their mailbox over the Internet with a web browser or with the Lotus Notes client.
IBM SmartCloud iNotes is a web-based e-mail and calendar service. It uses the messaging assets that IBM acquired from Outblaze, a Hong Kong-based online application service provider.IBM SmartCloud for Social Business also provides mechanisms for third-party applications to integrate with LotusLive. IBM has announced integration with Skype, LinkedIn, Salesforce.com, UPS, and Silanis.At Lotusphere 2012, IBM announced that it has rebranded the LotusLive product line as IBM SmartCloud For Social Business.NRG Networks
NRG Networks is a UK-based business networking organisation, founded in June 2004 by Kim Sharman and Martin Davies to facilitate the development of business relationships based on trust and knowledge between SME Business Owners in a social network environment. Dave Clarke joined as Chief Executive at the end of 2004 and identified that these business relationships resulted in a network of advocates. Networking for Advocates was subsequently introduced as the NRG networking model. Kim Sharman retired at the end of 2006.
The model of "Networking for Advocates" was investigated in some research conducted by Martin Davies and Roger Croft of the University of Bath. The purpose of the research was to further understand the importance of developing trust in business relationships. The research identified certain networking transactions as the currency of developing trusted business relationships. This led to the development of the NRG Networking System based on this Advocacy Model.
NRG Business Networking Advocate Model:
The organisation is structured around local groups, and primarily delivers its benefits via a monthly lunch meeting, preceded by a business development seminar.NSS-7
NSS-7 is a communications satellite owned by SES World Skies. It launched on 16 April 2002 on an AR-44L model of the Ariane 4 launch vehicle.
It is a hybrid Ku- and C-band telecommunications satellite providing fixed satellite services, including video distribution, Internet access, corporate business networking and fixed services such as telephony and data. Based on an enhanced version of Lockheed Martin's A2100AX satellite bus, this 72 transponder satellite initially operated at 22° West longitude over the Atlantic Ocean, providing coverage to the whole of Africa. In May 2012 it shifted over to the 20° West location to take over the duties of NSS-5.Professional services
Professional services are occupations in the tertiary sector of the economy requiring special training in the arts or sciences. Some professional services require holding professional licenses such as architects, accountants, engineers, doctors and lawyers. Other professional services involve providing specialist business support to businesses of all sizes and in all sectors; this can include tax advice, supporting a company with accounting, IT services or providing management advice.Sabbatical
A sabbatical (from Hebrew: shabbat (שבת) (i.e., Sabbath), in Latin: sabbaticus, in Greek: sabbatikos (σαββατικός)) is a rest or break from work.Service club
A service club or service organization is a voluntary non-profit organization where members meet regularly to perform charitable works either by direct hands-on efforts or by raising money for other organizations. A service club is defined firstly by its service mission and secondly its membership benefits, such as social occasions, networking, and personal growth opportunities that encourage involvement.A service organization is not necessarily exclusive of ideological motives, although organizations with such defined motives are more likely to identify themselves through their association. Much like the historical religious organizations that formed the basis for many societal institutions, such as hospitals, service organizations perform many essential services for their community and other worthy causes. In the United States, some of these clubs usually also have a component club organization that is a tax exempt 501(c)(3) non-profit organization.
Many of today's service clubs got their start as social clubs for business networking, but quickly evolved into organizations devoted more to service than to networking, although networking may still be the primary reason many members decided to join.
Historically, most service clubs consist of community-based groups that share the same name, goals, membership requirements, and meeting structure. Many of these clubs meet weekly, bi-weekly, or monthly on a recurring established day and time, commonly at a mealtime. Most of these clubs started with a single club in a single city, but then replicated themselves by organizing similar clubs in other communities. Many of the service club organizations have become worldwide movements, and have obtained official recognition by the United Nations and various governments as non-governmental organizations (NGO).
Service clubs in this article do not refer to the term "service club" used in the United Kingdom, Australia, and some other Commonwealth countries, in which those groups consist of clubs for members of "the services", a common expression for the military or uniformed forces. In the Americas, these types of clubs are commonly known as veterans' organizations or veterans' fraternal groups.
The world's first service club, the Rotary Club of Chicago, was formed in 1905 by Paul P. Harris, an attorney who wanted to create in a professional club with the same friendly spirit he had felt in the small towns of his youth. The Rotary name derived from the early practice of rotating meetings among members' offices.Talkbiznow
Talkbiznow was a business networking site Founded in 2008 and launched in August 2008, the site is a web-based business community and collaboration tool that provides business services for small businesses and professionals. Talkbiznow has been featured in the San Francisco Chronicle, Design Week, Sky News, The Financial Times, The Guardian, Times Online, Forbes, Fox Business Network, and The Daily Telegraph.
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