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Plethora In Social Networks Are Mind Boggling

Last updated on January 8, 2019

Facebook & Twitter are the dominant gorillas on social network. Whole gaming networks and other apps have cropped up-to services the participants Facebook and Twitter.

A plethora of other structures, such as social brand engagement, social marketing networks, social intelligence, social scoring and social referrals are cropping up. Most of them are too new to discern which models will eventually survive.

However, in this clamor, one thing is abundantly clear - social networking itself is revolutionizing the way humans live, work, interact and govern. While the Arab Spring in Tunisia, Egypt and many other countries is now a fading memory, the role of social networks in creating impetus and sustaining momentum cannot be underestimated.

Social networks are popular but business networks are lucrative

In 5-Star Business Network book, our focus is on Business Networks. We will not spend much more time on the social networking phenomenon; powerful, diverse and exploding though it is. A far more powerful, diverse and well-established network exists in the business arena. Every business relies on a network of suppliers and customers to sustain its operation and place in modern society.

So powerful is this network, in fact, that the basis of competition has long ago shifted from competition among companies to competition about supply networks. 

business network

Market leaders network with suppliers and customers who are market leaders themselves in their own arena to co-create, design, produce, market, sell and service a whole range of products and associated services the customers take for granted each day.

The renewable energy field is not only growing rapidly but there are also different applications - ranging from geo-thermal to wind and solar energy, which are competing with each other, as well as the traditional sources of energy. In a rapidly shifting economic landscape, with the volatile pricing of coal and oil, the relative attractiveness of any one energy source not only depends on the technological superiority of the concept itself, but also on rapid deployment of technologies to demonstrate superior results in action.

In such a scenario, the challenge emerges: How to create a network of businesses with complementary capabilities that can bring in the required expertise in research and development and use it to co-create a product or technology, where each business also satisfied while optimizing it's resource usage in pursuit of it core mission. 

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About the author  Vivek Sood

I write about "The Supply Chain CEOs", "The 5-STAR Business Networks", and, how to "Unchain Your Corporation". In my work, I help create extraordinary corporate results using several 'unique' supply chain methodologies. Contact me for interesting, high impact projects, or, to get access to my IP for creating transformations using these methodologies.

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