NetWorking...

In businesses, networking is the sharing of information or services between people, companies, or groups. It is also a way for individuals to increase relationships for their job or their companies. As a result, building connections, or a network can be useful for individuals in their professional or personal lives. Networking helps produce meaningful relationships that are beneficial to all involved parties so to exchange information and services. Gaining new significant business acquaintances can be obtained by networking meetings, social media, personal networking, and business networking.

In the second half of the twentieth century, networking was promoted to help businesspeople 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 excluding them from professional success. Mainstream business literature subsequently adopted the terms and concepts, promoting them as pathways to success for all career climbers.

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Overview

?There are many ways to network, it could be in the traditional way of making connections through a group or club or maybe non-traditional ways through hobbies or unrelated events. They all serve the same purpose of making close and valuable connections providing 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 take advantage of each other's business interests by forming reciprocally constructive and profitable 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 advice for running your business.There are several prominent business networking organizations that create models of networking events. When followed, these models allow the businessperson to simultaneously build new business relationships and generate business opportunities . A professional network service is an implementation of information and technology in support of business networking. The Chambers of Commerce and other business-oriented groups may also organize networking activities. However, there are various networking groups, and there is no one-size-fits-all for every person or company. Models will vary based on their field of business and what they want their outcomes/goals to be.

?It is important to note that networking works above all in favor of small businesses. 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 gain essential guidance. They can even find partners and angel investors through a networking group of experienced business owners. An abundance of networking events take place in every country where entrepreneurs can meet, expand their affiliations, educate themselves and feel better qualified. Adopting smart tactics can go a long way in securing partnerships, friendships and acquaintances.Collaboration is also a huge part of networking. According to Sorenson, Ritch L., et al. it can create stronger relationships, better conflict management and build better connections.[6] Networking works best when supported by good conflict resolution and collaboration when trying to solve a problem.

?History

?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 still been proven to 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, so justifying the expenditure involved in setting one up.

?Ethics

?Networking can be an effective way for jobseekers 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 interrelations 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 comp.