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business networking:

an activity for building and maintaining working relationships within the business world; a purposeful dialogue related to business; a business development activity intended to be a precursor to a sale and, as such, a marketing method.

A dialogue with an industry peer can take place in an arranged business networking environment, such as a networking event. An event might be referred to as a business network. Page down to comments about the critical mass of networking events in terms of their effectiveness and usefulness to serious participants.

Business associations focused on enterprise and economic development typically organize networking events. Among such associations are chambers of commerce in locations seeking economic development. Beyond chambers of commerce and other local area networking organizations are national and sub-national associations.

The following quote from a the website of a location marketing consultant specializing in economic development and tourism serves to emphasize how important networking is to business decision makers, such as those among core users of The Network:

Since 1996, over 50 percent of corporate executives have ranked “dialogue with industry peers,” as the leading source of information influencing executive perceptions of a community’s business climate. (source of quote).


related: industry; association; location marketing; executive; business climate

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Within the following quote is the suggestion that the value of events for business networking is related to size. The quote refers to networking events of the now defunct International Development Research Council, the preeminent association of the type dedicated to enterprise and economic development.

IDRC was organized as an association of corporate real estate executives. Its original purpose was to facilitate dialogue among industry peers as well as build and maintain working relationships with economic developers positioned as location data suppliers.

The quote from a 2002 Site Selection.com document:

Networking events should be far smaller and more intimate than the large, often unwieldy conferences that now typify many industry associations.

Note: the source document of the above quote is no longer available online. The website was that of Site Selection Magazine which at the time the official publication of IDRC.

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FYI: definition of business networking event for business development define business networking event for business development definition of business networking events for business development define business networking events for business development define networking as a marketing method definition of networking as a marketing method

 

Economic Development Services, Inc. / copyrights and all rights reserved / 12/20/2012