Question

1. What are Network externalities? How do they play a role in Networking Effects?

2. Provide three examples of Networking either by specific industry or company and provide examples. Consider interlocking contracts as an option. Be creative.

3. Given that Networking can and does really impact company profitability, how have you integrated Networking in your own education and career path? Provide 3 examples of how you have been or plan to Network.

Answer 1

Ans 1: The Network externality is one kind of result which has been explained in economics and business that an extra utilization of goods has on merit of that particular goods to others. If there is a network effect, the product worth will be developing depending on others utilizing it , one of the example is telephone for a large number of utilizing people are there.

Ans 2:A NETWORK means a group of computers ,servers,and other network devices which help in sharing the date and the most important example is internet which is having the ability to millions and millions of people in the world.some of the examples of network devices are smartphones,routers,modems,hubs and webcams.some of the network configurations are start topology,ring topology and tree topology.

The Network topology explains connection of connected devices in the form of a graph. Commonly the devices are shown as vertices and connections are shown as edges,this helps to explain the connections of every devices is in which order and hierarchy.

Ans 3: The interactions always increases both professional and personal growth. if there is a good contacts, then our businesses can be developed in a greater level. The networking is a method of utilizing online platforms to make connections with customers, strangers and different dealers in the field of business. With the help of Networking lots of people from variety of backgrounds can be engage in the same programs and make a great fame for different projects of the company.

Other than the networking methods like instagram, facebook, whatsapp there are many other networking resources which can unite the population: tinder, sound cloud, kik etc..,These all can unite the people having same interest.The starting from a school, getting a job,getting married, building a family and forming good friends in a strange place are good examples of networking.

The Web is packed with a lots of platforms that gives a perfect tool for making business networks. The small business social network have the ability to bring this small business to a wider area than we expected. one of the best equipment for making a business social network is Ning.

Thanks...