Date Tags business

Our focus is however on Business Networks. Mercifully, we will not spend much more time on the social networking phenomenon–powerful, diverse and exploding though it is. A far more powerful, diverse and well-established network exists in the business arena. Every business relies on a network of suppliers and customers to sustain its operation and place in modern society. So powerful is this network, in fact, that the basis of competition has long ago shifted from competition among companies to competition about supply networks. Market leaders network with suppliers and customers who are market leaders themselves in their own chosen arena to co-create, design, produce, market, sell and service a whole range of products and associated services that the customers take for granted each day. We have already gone over the example of the Red Bull supplier network in some detail. Let us take another example - this time in the growing field of renewable energy. For reasons of confidentiality, (because of my assistance in this network's configuration and functioning) the company is not named and the industry information is disguised, without losing any context or relevance. The renewable energy field is not only growing rapidly, but there are also many different applications - ranging from geo-thermal to wind and solar energy, which are competing with each other, as well as the traditional sources of energy. In a rapidly shifting economic landscape, with the volatile pricing of coal and oil, the relative attractiveness of any one energy source not only depends on the technological superiority of the concept itself but also on rapid deployment of technologies to demonstrate superior results in action. A number of technologies find themselves almost on the verge of major breakthroughs that will lower the cost per unit significantly below the existing norms, however, often they cannot achieve those breakthroughs on their own because of the research and development time and investment required. On the other hand, there exist other, well-established businesses quite capable of providing that additional research and development capability, even though renewable energy is not their area of expertise and interest. In such a scenario, the challenge emerges: How to create a network of businesses with complementary capabilities that can bring in the required expertise in research and development and use it to co-create a product/technology where each business is also satisfied while optimizing its resource usage in pursuit of its core mission. Almost all the companies in a similar scenario create a complex Business Network of suppliers, collaborators and co-creators that can rapidly form and deploy teams for the purposes of research, development, testing, prototyping and deployment of technologies. If any company was to rely on its own resources using traditional purchasing practices, the time to market as well as effectiveness would be vastly diminished. As a concrete example we will examine in greater detail Apple reduced its new product development and time-to-market cycle to nearly one-half of the industry norm by using its supply networks wisely. No wonder Apple's current market capitalization is larger than the market capitalization of Greece and Spain combined. We will cover Business Networks and supply networks in great detail in Sections II and III. For this reason, we will devote the rest of it looking at some other types of networks familiar to readers. A familiar network to many readers would be his/her own Rolodex - a network of business associates and contacts. Inevitably, they come to your rescue when you need help and vice versa. They are also good sources of information, job leads, business leads and even guidance or inspiration. LinkedIn and Plaxo have put the Rolodex online and added far more functionality and possibilities with their web versions. In that sense, online networks enhance the possibilities and functionalities far beyond what is possible with the offline networks. An enriching, quasi-structured and purpose oriented interaction is possible using online networking tools - it would be difficult to replicate this (and adhere to it) in an offline context. Try adding your company to a business directory - it will help with your search engine optimisation efforts.