Notice how a presumably qualified boy offers to teach the other to dance. He shows him some steps. Before long another boy joins showing more fancy steps and moves. And then passersby’s join and a eventually a small company with more expert moves and becomes a show. That is networking!!
Video example of networking https://www.facebook.com/photo.php?v=656537144404387 Business networking is when groups of like-minded business people recognize, create, or act upon business opportunities.
1. Networking is a cost-effective method of generating new business
2. It is cheaper than advertising or public relations efforts as it happen organically.
3. It gives opportunities to all involved to inter-act and get a chance at building relations face to face.
In formal business networks it becomes a membership driven activity which may agree to meet weekly or monthly with the purpose of exchanging business leads and referrals
To complement the network meeting a business may meet their newly formed contact outside the circle, on their own time, and build their own one-to-one business relationship.
Professional business networking organisations that can be found in South Africa are
Online networking works as well through websites such as
Through these various websites
· Introductions occur
· new prospective business partners are made
· Global social networks exists which make it easier to cross the border
Networking organisations need to establish
· the provision of operation
· related value chains
· value networks
· Regulations and guidance for members.
Networked businesses tend to be open and supportive as compared to hierarchical, traditionally managed approaches which tend to be closed, selective, and controlling.