2. What is networking?
‘an effective low-cost marketing method for developing sales opportunities and
contacts, based on referrals and introductions - either face-to-face at meetings and
gatherings, or by other contact methods such as phone, email, and increasingly social
and business networking websites.’- www.busisnessballs.com (2016)
‘Developing and using contacts made in business for purposes beyond the reason for
the initial contact.’ – www.entrepreneur.com (2016)
‘Creating a group of acquaintances and associates and keeping it active through regular
communication for mutual benefit. Networking is based on the question "How can I
help?" and not with "What can I get?“’- www.businessdictionary.com (2016)
3. Types of networking
1. Online Networking (social networking)
Social networking sites
E.g. Facebook, Twitter, Linkedin
2. Face-to-face Networking
Networking events
Specific for the type of business
E.g. exhibitions, seminars, training courses etc.
4. Online networking vs. face-to-face
networking
Advantages Disadvantages
Worldwide
connectivity
No face to face
communication
Commonality of
interests
Risk of fraud or
identity theft
Can be instant Wastes time
Free Invasion of
privacy
Faster news cycle Less personal
Online (social) Networking
Face-to-face Networking
Advantages Disadvantages
Can receive
honest feedback
Can be more
expensive
More personal Cannot ensure
contacts will be
made
Build meaningful
relationships
Limited to who
you connect with
Less
misunderstandin
gs
Takes more time
Body language
www.socialnetworking.lovetoknow.com
(2013) www.postplanner.com (2016)
5. Strong ties vs. weak ties (Granovetter,
1973)
The people who we are least connected to offer the best opportunities.
Granovetter believed that lots of small ‘weak’ ties offered a more useful purpose
than few ‘strong’ ties.
Weaker ties serve as ‘bridges’ to other networks that can create shorter and faster
paths of information – i.e they are the friend of a friend
They can mediate information between two groups, and have information that
close knitted groups will not have access to.
6. Why is networking important for
Simventure?
Simulation of a new business
No contacts
Increase the amount of customers the business has
Customers/promotion needed to raise profit
(www.ignitebusiness.org, 2014)
7. Questions
What are the two types of networking?
1. face-to-face and verbal networking
2. Online and social networking
3. Face-to-face and online networking
4. Face-to face and real life networking
Which of these is not an advantage of social networking?
1. Worldwide connectivity
2. Can be free
3. Can see people’s body language
4. Commonality of interests
What did Granovetter’s study look at?
1. Strong ties vs. weak ties
2. Strong bonds vs. weak bonds
3. Face-to-face vs. online networking
4. Exhibitions and seminars
8. References
Business balls, 2016. Business Networking [online]. Available at < http://www.businessballs.com/business-
networking.htm >[Accessed 1st February 2016]
Business dictionary, 2016. Networking [online]. Available at <
http://www.businessdictionary.com/definition/networking.html >[Accessed 1st February 2016]
Entrepreneur, 2016. Networking [online]. Available at <
http://www.entrepreneur.com/encyclopedia/networking >[Accessed 1st February 2016]
Granovetter, M., 1973. The Strength of Weak Ties. American Journal of Sociology. 78(6). 1360–1380.
Postplanner, 2016 Valuable benefits of face to face networking. Available at <
https://www.postplanner.com/valuable-benefits-of-face-to-face-networking/ > [Accessed 29th January
2016]
Social networking. Love to know, 2013 Advantages and disadvantages of social networking. Available at <
http://socialnetworking.lovetoknow.com/Advantages_and_Disadvantages_of_Social_Networking
>[Accessed 29th January 2016]
Davison, K.H, Maraist. C, Bing, N. M. (2011). Friend or Foe? The Promise and Pitfalls of Using Social
Networking Sites for HR Decisions. Journal of Business and Psychology. Vol. 26, No. 2. pp. 153-159
