Social Functions

Social Functions 

A crucial factor contributing to the occurrence of networking opportunities was based on attendance at social functions such as conferences. Conferences are identified as an effective mechanism in terms of getting to meet potential customers, keeping up to date with the latest developments and analyzing competitors’ activities. In the early stages of new firm creation, information networks represent an important resource for the entrepreneurial firm.Effective information networks enrich the entrepreneur’s environment, there by enhancing the other networks and processes in which the entrepreneur engages.The information-seeking behavior undertaken by the entrepreneur is very personal and is primarily a social encounter.The entrepreneur will rely on any informal contacts made throughout his/her personal life as well as business career.