Smart Business Networks

Smart Business network is a creative way of doing business establishing a strong link to achieve effective results better than the conventional business. The word smart has been coined to the terminology not only referring to the literal meaning of smartness but also indicates doing business with a technological approach to produce different and better outcomes.

This business methodology adopts strategy to enhance the utilization of communication technology and network systems. Smart Business network can be considered as the linking nodes comprising of organizational. These nodes are linked to each other using a latest communication technology creating lines between various nodes involved in the business. All the nodes connected are working towards a common target and endeavor to synchronies efforts to achieve the target of the smart business network.

Most important aspect of setting up this business is long lasting, always working together with an effective output to the organizational goals. The linking may be fully looped with all the nodes of the organization or it might adopt a hierarchical set up depending on the situation and best combination available. A chain in a network is connected exactly from one to another.

If there are suppliers in the network and certain nodes are earmarked as the customer to the supplier, then the concept of supply chain management is adopted. In general the customers are linked upwards towards the suppliers in the supply chain management. Smart business network is adaptable to situations, dynamic and has the ability to get linked easily and delinked quickly as possible.

Features of Smart Business Network

Presently smart business network is not a reality in the business world, researcher are maximizing their efforts to implement Smart business network. This business is a coordinated business with the features of alertness, vigorous established with adequate network structures and networking process. This business technology utilizes the benefits of innovative business to generate economic rents. The set up of Wal-Mart firm is an example describing some of the features of a small business network.

In this company they have incorporated Radio Frequency Identification (RFID) technology to track and trace their products Smart business network also has a unique business operating system which is responsible for coordinating the process among the nodes on network. The business has embedded logic of this operating system. Some of the manufacturing industries catching business process logic in the industry wide repositories which are shared via intranet and extranet of the company.

This business technology also offers the government to go for e-governance providing a user-friendly interface to both citizens as well as businessman. Transport and logistics companies have effective solution using smart business network to get quick online information on the product location and many more real-time information simplifying the business process. The other features of the smart business network include the following:-

(a) It comprises of qualified suppliers and customers
(b) Smartness of the business remains comparative, time-bound and suited to situation
(c) Competitive Business coping up with the changing trends to manage the opposition in the business.
(d) Linked nodes in the smart business network have compatible goals.
(e) Communicating in novel way.
(f) Sustainable for a longer period.
(g) Adopts coordinated business process

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