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  • Business networking is a socioeconomic business activity by which groups of like-minded businesspeople recognize, create, or act upon business opportunities. A business network is a type of business social network whose reason for existing is business networking activity. There are several prominent business networking organizations that create models of business networking activity that, when followed, allow the business person to build new business relationships and generate business opportunities at the same time. A professional network service is an implementation of information technology in support of business networking. Many business people contend business networking is a more cost-effective method of generating new business than advertising or public relations efforts. This is because business networking is a low-cost activity that involves more personal commitment than company money. Country-specific examples of informal networking are guanxi in China, blat in Russia, Good ol' boy network in America, and Old boy network in the UK.

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