BUSINESS NETWORKING

Networking Opportunities

[Writer's initials]

Networking Opportunities

Part-1

Business Idea

Business idea can be defined as a concept of making money through a product or service. The business idea selected for this assignment is based on the establishment of IT Company ABC Systems, that offers its services to various businesses. It is also significant to know that IT Company will provide solutions to other businesses in relation to the computerisation of their human resource, manufacturing, production or supply chain processes. There is no doubt about the fact that Information Technology has played a major role not only in benefiting the businesses but is also an important tool to compete in today's rapidly changing business environment (Kohli & Devaraj, 2004).

There is no doubt about the fact that emergence of new technologies has opened new doors of opportunities and doing business in a radically different way (Manzoor, 2012). This suggests that Information and Communication Technologies (ICT) has proved to be a vital resource to create business value. It would be fair to say that Information Systems has the capability to renovate the nature of products, processes, companies, industries, and even competitive environment of the industry. In fact, Information Systems can be seen as major source to provide strategic tools to any organisation (Buhails, 2004).

The ABC Systems believes that success of any organisation depends not only on the sales of their core products but it actually lies in the environment and activities behind the increased sales (Belanger & Slyke, 2011). In other words, organisations need to focus on productive activities that play a major role in enhancing efficiency as well as revenue. ABC Systems recognises the importance of business networks and intends to build its own network in order to explore further business opportunities.

Since ABC System is a high-tech company and understands the role of social networking websites, the company will ensure its presence on various social networking website including LinkedIn, Ecademy, FaceBook and Twitter. This will also save the cost of building networks for a company that is new in the market (Townsend, 2011). In addition, as far as physical networks are concerned, ABC considers its business partners and their partners as first layer of access to the business communities. It is also important to discuss that ABC Systems will participate in various business events not only to introduce its products to other companies but enhancing business ties with other companies will be an added motive participating in behind such events.

Likewise, it is essential for ABC Systems to identify the groups and other networks that share similar interest as this ensures the possibility of effective network. ABC Systems, in this regard, has identified some organisations that do not run any IT business but express significant interest in the use and implementation of information technology. For example, there are some companies that are interested in developing awareness of office automation through implementation of IS systems or ERPs (Enterprise Resource Planning(s)). The biggest opportunity of building networks with such groups is that ABC Systems will be able to collect new ...