Building An Effective Network: Where Should You Invest And How?

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Executive Summary

Networks and networking are a hot topic in business today. Innovative electronic networking tools such as LinkedIn, Facebook and Xing as well as more traditional networks such as alumni and industry associations are being used by executives to gain competitive advantage. Academic research and management journals suggest that your effectiveness may suffer if you don't get it right. In a previous Perspectives for Managers papers that individuals might create their own "Networking balance sheets", as a way of understanding the assets, liabilities and equity in their networks and networking abilities. But, a balance sheet is a snapshot at a moment in time, and this doesn't tell you what you should do to increase the value in the future.

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