What's what in finances: Networking

Exchange of information and ideas among people with a common profession or special interest, usually in an informal social setting.

Networking is the process of establishing a mutually beneficial relationship with other business people and potential clients or customers.

Networking is used by professionals to expand their circles of acquaintances, to find out about job opportunities in their fields, and to increase their awareness of news and trends in their fields or in the greater world.

People generally join networking groups based on a single common point of interest that all members share. The most obvious is a professional affiliation, such as stockbrokers, but some people find effective networking opportunities in a college alumni group, a church or synagogue social group, or a private club.

Another term related to networking is outsourcing.

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