Business Networking - Networked Businesses

Networked Businesses

With networking developing, many businesses now have this as a core part of their strategy. Those that have developed a strong network of connections suppliers and companies can be seen as Networked Businesses, and will tend to source the business and their suppliers through the network of relationships that they have in place. 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, chairman of Ecademy, an online business network, in May 2009.