Obviously, business networks have tremendously changed through the ages. The world has become global and business networks have kept expanding over the years and centuries. In fact, business networks used to be very small, even non-existent a few centuries ago. In former societies, businesses were not as developed as they are nowadays and we can say the same for the networks. When talking about “business” started to become relevant in organizations, it was still on the premises step and “network” was still an anachronism. Enterprises and businesses were first limited to a few numbers of transactions and very few interactions. At that time, interactions only linked two people or not much more. Over the centuries, businesses started to expand and transactions were more and more numerous. Besides, more transactions involve more interactions between businesses and the people who are part of it. This is how business network appeared.
What is a business network then?
Relationships are built between companies. They can share resources, knowledge or even other relationships. Companies have to build a cooperative network in order to face competition, and not to be left behind on their market. In fact, business network is the first key step, which can help your business achieve good results and success. No business can be successful without an efficient and well-managed business network. Entrepreneurs used not to think (and some still don’t) about their network. When implementing a business, people focus on what they will sell, for what price, etc. However, the first thing they should think about is their network, especially in today’s society. In effect, business networks have become crucial for companies. Moreover, that is not all; we are now living in a global business world, and companies must think consequently. Nowadays, companies interact all over the world and that is the reason why business networks become global. In fact, they have to become global. Considering globalization, it is impossible for a company to success in a global market, without building global relationships. Competitors would be so far before you that it would not be possible ever to catch up. This global business world pushes managers and directors to think quickly and make decisions faster than they used to.
Why does it have to be global?
In today’s globalized world, companies have to deal with global issues, global customers, and global suppliers. Thus, a global business network is essential but it is even unwitting. Companies can also not be realizing their network is becoming global. However, if their network does not become global, they will certainly realize it, so fast will be their failure. Therefore, global markets involve global business networks that will provide your business partners all over the world and numerous opportunities for improvement and success. Group actions often provide better results than one actor alone. Consequently, global business networks will provide your company with more resources and more know-how to lead your business to success. Through a global business network, your company will benefit from “multi-system” interests that will help create more value than one company alone. To conclude, your global business network is the key to many issues you could encounter and you must do whatever it takes to expand it the more you can. The most important and effective your global network, the more successful your business. We have entered into the era of Global Business Networks. Nowadays, this is the most important thing you should think about for your business. It is more important than you business infrastructure that is rigid and fixed. Your business network, on the other hand, is evolutionary, flexible and revenue accruing, and more than that if it is a global one. You can learn more about the importance of Global Business Networks today by reading Vivek Sood’s book, The 5-STAR Business Network (http://bit.ly/5-STARBN), which will give you an amazing overview of the insights of his work. by Anais Lelong