Expanding Business Networks and Connections
Marc Amorantoa and Patricia Ngsuyb
a BS Advertising Management, College of Business,
De La Salle University, Manila
b BS Management of Financial Institutions, College of Business,
De La Salle University, Manila
Abstract. This document contains the networks and connections of businesses. The document focuses on the different networks and connections of three types of business namely a corporation, a franchise business, and an online business. The purpose of this research is to compare the different types of networks and connections of each type of business, to show their similarities and differences, and to know how these networks and connections help in expanding the business. This paper also includes the factors and strategies businesses take into consideration for their plans of expansion.
Keywords. Business, networks, connections, expansion.
Business is and will always play an important role in every country. What makes it important is that it is already a part of people’s everyday lives. Business provides goods, services, and jobs. In other words, it satisfies the needs and wants of every human. The UN Global Compact (2010:5) argues that business, as the world’s main source of economic growth, is at the heart of virtually any widespread improvements in living standards (Hoye, 2010). Without businesses, everyone would have to be an expert in all aspects of life which is impossible to do. Countries would also be at stand still and would have no progress at all. In short, we would not have the life we are enjoying right now without the presence of these businesses.
In the past, businesses started out as humble barter trades that slowly expanded as people explored and discovered new lands. Communication and transporting of goods and services were a great challenge. This comes to show that running a business back in the day was definitely not an easy task. But today, businesses have definitely evolved and improved from what it was and a lot of them are venturing into different business networks and connections.
Numerous references have talked about business networks and connections or are related to the topic and the effects of having these in sustaining and developing a business. Ritter, Wilkinson, and Johnston (2004) suggest that firms should not be seen in isolation but as being connected in business systems. Hall, Daneke, and Lenox (2010) state that sustainable development has emerged as an increasingly influential concept in managerial and academic settings and the term sustainability has become a mainstay of corporate strategy.
Business Networking is a very important aspect that businesses need to maintain substantial growth and harbor strong relationships. We are presently living in the information age. All this information is available and accessible to everyone in the world. Business has definitely changed the way people live their lives. Since it has been established for a long time, it has become flexible and adaptive to the changes that we humans have been making. Our advancing technology has made networking easier for businesses to manage. Alt, Fleisch, and Werle (2000) state that networkability is the internal and external ability to cooperate as well as the ability to rapidly and efficiently establish, conduct, and develop IT-supported business relationships. Networking is built on relationships between the actors and organisations of business. Holmlund and Tornroos (no date) state that a relationship is defined as an interdependent process of continuous interaction and exchange between at least two actors in a business network context. 6, Goodwin, Peck, and Freeman (2006) state that a network is any moderately stable pattern of ties and links between organisations or between organisations and individuals, where those ties represent some...
References: Ritter, T., Wilkinson, I., & Johnston, W. (2004). Managing in complex business networks. North-Holland Publishing, 33(3), 175-183. Retrieved from http://www.sciencedirect.com
Hall, J., Daneke, G., & Lenox, M. (2010). Sustainable development and entrepreneurship: past contributions and future directions. Elsevier, 25(5), 439-448. Retrieved from http://faculty.darden.virginia.edu
6, P., Goodwin, N., Peck, E., & Freeman, T. (2006). Managing networks of twenty-first century organisations. New York, New York: Palgrave Macmillan.
Malerba, F., & Vonortas, N. (Ed.). (2009). Innovation networks in industries. Massachusetts, USA: Edward Elgar Publishing.
Pranevics, J. (2010). Business development strategy of the Nasdaq OMX Riga. Master’s thesis, Riga Business School.
Dumlao, D. (2013, January 21). Yao thrift bank plans to expand network to 100. Philippine Daily Inquirer.
Alt, R., Fleisch, E., & Werle, O. (2000, July).
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