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Business Networks Or Social Networks – Which Do You Prefer?

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Business Networks Or Social Networks

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Business Networks Or Social Networks – Which Do You Prefer?

Learn All About Business Networks Or Social Networks

LinkedIn is a business network that allows you to socialise.

Facebook is a social network that is trying to commercialise.

Both are digital networks that allow you to do certain things and not do other things.

Besides these, there are real world business networks made up of businesses who trade with each other on regular basis – sometimes for decades.

Many of these real world business networks are very tightly knit eco-systems where trust, co-operation and accepted rules of conduct make it very easy and cost effective to do business.

Imagine a world where every time a business had to buy raw material or other supplies from another business they had to go through the full due diligence process of establishing mutual trust, understanding and rules of the deal.

The Story Of Business Networks Or Social Networks

Commerce would come to a stand-still in such a world.

Now try and imagine the value of these hidden business networks that we just take for granted.

We assume that the coffee we buy from Starbucks in the morning somehow gets grown, picked, sorted, transported, roasted, ground and brewed to arrive in the cup.

The vast business network that silently works behind-the-scenes to make this morning cuppa possible – just in the coffee industry – is worth nearly $24 Billion and employs more than 35 Million people.

In the retail sector, the business network is worth more than $1.5 Trillion. The number of people employed in this sector globally is impossible to count because in many countries the retail trade is so fragmented.

Automotive industry – the second largest such network on the planet – is estimated to be worth close to $1.3 Trillion. In fact just the top 6 commercial networks on the planet are estimated to be worth nearly $4 Trillion.

Given their enormity, it is a wonder that these business networks are neither well understood, not well managed.

5-Star Business Networks Or Social Networks

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While each business network has a vague understanding of the ‘rules of engagement’ for players within the network, there is no common understanding of these across the board.

The key question is that while the rules of engagement on LinkedIn or Facebook or other social networks are relatively clear and easy to follow – are there some guidelines which can help businesses navigate the world of hidden business networks successfully?

In other words – are there ways businesses can engage in networking with each other that produce superior results?

That is an interesting question that I answer in my book THE 5-STAR BUSINESS NETWORK.

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Copyright - These concepts, frameworks and ideas are copyright of GLOBAL SUPPLY CHAIN GROUP from the time of their creation. Do NOT copy these without permission and proper attribution.

Notes:

1. These ideas and concepts will be usually expressed by our thought leaders in multiple forums - conferences, speeches, books, reports, workshops, webinars, videos and training. You may have heard us say the same thing before.

2. The date shown above the article refers to the day when this article was updated. This blog post or article may have been written anytime prior to that date.

3. All anecdotes are based on true stories to highlight the key points of the article - some details are changed to protect identification of the parties involved.

4. You are encouraged to comment below - your real identity and email will not be revealed when your comment is displayed. Insightful comments will be featured, and will win a copy of one of our books. Please keep the comments relevant, decorous and respectful of everyone. All comments represent opinions of the commentators.

Our Quick Notes On Five Flows Of Supply Chain Management

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Table of Contents

ABOUT THE PRINCIPAL AUTHOR

Today, Vivek and his partners are among 20-30 people on the planet earth who have this deep understanding of supply chain systems, practices and tools. CEOs, COOs, executives and Boards call them in most challenging situations once they know the full potential of supply chain based transformations. Following are key milestones in Vivek's journey:

  • Started in 1983 as a merchant navy cadet at 18 years age, worked his way to qualify as a Captain – qualified to take command of any merchant ship, worldwide.
  • Earned a top tier MBA from UNSW at the top of his class.
  • Joined highly regarded strategy consulting firm Booz Allen & Hamilton, consulting to the CEOs, Boards and senior management of global corporations within Australia.
  • To learn and specialise in supply chain – against all odds, sought out the co-inventor of supply chain in Germany and convinced him to be a partner in his firm, GLOBAL SUPPLY CHAIN GROUP, launched in January 2000.
  • More than 500 successful blue chip projects with high impact business transformations in large corporations using the full power of SUPPLY CHAIN MANAGEMENT.
  • 4 Seminal and path breaking business books IN SUPPLY CHAIN MANAGEMENT – these are available in bookstores and universities and libraries worldwide.

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WHAT OTHERS ARE SAYING

Our Clients say it better than we ever could:

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OUR CLIENTS

Our Clients come from a variety of industries – yet they have a common element. They rarely rest on their laurels, and are always looking to do better.

OUR PROJECTS - EFFECTIVE TRANSFORMATIONS

In the last 20 years we have completed more than 500 projects. Click below to see a sample of our projects.

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Our Books

5.0
5/5

THE 5-STAR BUSINESS NETWORK

If you are deeply passionate about the world of business and supply chain networks as I am, and enjoy digging answers to critical questions that will help build and steer your business with wisdom, then join me. This book is a journey of exploration through the world of business networks that run along the veins of today’s commercial world.

4.3
4.3/5

OUTPERFORM OUTSOURCE OUTPROFIT

The trend of outsourcing continues to grow unabated with the whole gamut of services, from simple to mission-critical tasks. There is not a single company on earth that does not outsource anything. It is not just about cost arbitrage, it is also a finer expression of division of labour at the organisational level. Like all leverage, outsourcing is a double-edged sword too. On one hand, it allows you to do more, faster. On the other hand, if it goes bad, it can easily kill your business. If you do not believe that is possible – you can google the Fox Meyer saga from the 90s and see for yourself.

4.3
4.3/5

UNCHAIN YOUR CORPORATION

Businesses Are Chained By Unseen Chains. If You Are Looking For Ways To “Unchain Your Corporation” A Successful Business Transformation Is Required.

Successful Business Transformations Are Difficult, Yet Rewarding.

Business Transformation Is Fast Becoming A Question Of Survival In The Modern Globalised Era.

Modern Supply Chains Integrate Businesses And Economies Faster By Systematic Information Sharing From Internal And External Sources.

Companies Can Multiply Profits By Progressively Ramping Up Cohesion And Collaboration Of All Moving Parts In B2B Network To Achieve Tighter Integration.

4.3
4.3/5

GREEN SUPPLY CHAIN – AN ACTION MANIFESTO

It is generally accepted that environmental consciousness is now changing to environmental proactiveness as organizations are discovering that it makes good commercial sense.

Boards are asking the management to review their policies related to environmental norms, not only to bolster their corporate social responsibility aims, but also because consumers are asking for greener supply chains

It is also widely agreed that consumers will increasingly prefer to buy more and even pay more for products or services provided in an environmentally sound manner.

FOR SENIOR EXECUTIVES AND DIRECTORS

YOUR HIGHEST VALUE ADDED IN YOUR COMPANY

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