Increasing competitiveness of companies through business networking

Abstract

Intended purpose of this article is to clarify the possibility of a business networking, now mostly represented by clusters or virtual firms. Active exploitation of the possibilities offered by a business networking, leads to greater competitiveness of participating companies. Particularly targeting the possibility of innovation of products and processes within the networked environment, being built on a strategy of cooperation while maintaining competition of engaged companies. The article enhances importance of the necessary step by step procedure which should be followed and accrued benefits to individual member companies. The greatest potential for the exercise in this form of business is offered for small and medium enterprises which have limited resources, where through involvement in these business networks can help create its own influential market position.