Entrepreneurship Coursework Example | Topics and Well Written Essays - 1500 words

Entrepreneurship - Coursework Example In such a way, the following analysis will seek to engage the reader with some of the reasons for why networking is such an integral aspect and should be appreciated to a more definitive level and degree. Firstly, the most obvious reason for why networking is ultimately important has to do with the overall level of connections that an individual can build within the business community. These connections have a clear linkage to the way in which consumers and producers can be linked. One does not need to delve too deeply into existing literature to find the way in which value chain management and the relationship between producers and suppliers must be delineated in order to come to an appreciation for the fact that these connections are an invaluable compote of seeking to further the business profitability and continued survival of a given entrepreneur/business entity. Ultimately, the goal of these connections, brought about might networking, is to create a series of friendships and a t least acquaintance with stakeholders within a variety of different fields. It must not be understood that networking is done solely as a means of benefiting the bottom line. Oftentimes, networking has the tangential benefit of allowing the individual entrepreneur to come to a more full and well nuanced knowledge of existing best practices within a given field. Through such a knowledge of best practices, the entrepreneur can then apply these best practices, changing them as he/she feels fit, to more appropriately embodied the goals and visions of their respective business entity. Within such a way, the entrepreneur becomes less insular and can rely upon the best practices of different individuals in different fields as a means of benefiting their own business. All too often, producers and entrepreneurs are caught in the unenlightened frame of mind that they are in a game against the world. Within such an unenlightened standpoint, the entrepreneur does not wish to accept the best pr actices for business approach that many other individuals that they might network with have utilized to a great level of success. However, a brief and cursory analysis of the existing business environment notices that many of the most successful and multinational firms have sought to engage best practices in other tangentially related businesses as a means of benefiting their own bottom line and approach to the consumer. Moreover, one can see an example of the importance that networking can have with respect to the way in which network theory, a sociological construct, delineates the way in which this can and should occur within the realm of both business and interpersonal interaction. As such, network theory denotes that the greater the level of connections that can be made the greater the empathy and synergy that can be developed within each of these relationships/networks. As such, using the case of a large multinational firm such as Apple, one can readily denote the fact that ne twork theory is definitively in use and applied across the board with regard to the way in which business interactions and needs fulfillment takes place. Finally, seeking to forge these networks can result in lasting friendships and network relationships which encourage business to grow beyond the market constraints. For instance, if a given supplier has formed a