Small World Networks

From Wikipedia, the free, on-line encyclopedia:

In mathematics and physics, a small-world network is a type of mathematical graph in which most nodes are not neighbors of one another, but most nodes can be reached from every other by a small number of hops or steps. A small world network, where nodes represent people and [links] connect people [who] know each other, captures the small world phenomenon of strangers being linked by a mutual acquaintance.

Network analysis gives entrepreneurs a rich set of powerful tools to use to analyze their social capital and talk and think about their customers. For example, if your customers make up a small world network, it means that you may have to promote your product differently than if your market were all 1st level connections. Anyone interested in this should read the entire Wikipedia article and follow the links.

If something I write resonates with you, post a comment. Entrepreneurship informs all of my professional activities. For entrepreneurial real estate go to www.yourstopforrealestate.com/blog and for entrepreneurial writing, go to www.kearneymusicschoolmurders.blogspot.com

Social Network Theory

From Wikipedia, the free, on-line encyclopedia:

A social network is a social structure made of nodes (which are generally individuals or organizations) that are [linked] by one or more specific types of interdependency, such as values, visions, ideas, financial exchange, friendship, kinship, dislike, conflict or trade...

Social network analysis views social relationships in terms of nodes and [links]. Nodes are the individual actors within the networks, and [links]. [Links] are the relationships between the actors. There can be many kinds of [links] between the nodes. Research in a number of academic fields has shown that social networks operate on many levels, from families up to the level of nations, and play a critical role in determining the way problems are solved, organizations are run, and the degree to which individuals succeed in achieving their goals.

In its simplest form, a social network is a map of all of the relevant [links] between the nodes being studied. The network can also be used to determine the social capital of individual actors. These concepts are often displayed in a social network diagram [called a graph], where nodes are the points and [links] are the lines.

This concept is crucial for entrepreneurs. Their entreprises consist of them and their connections. Networks provide the social capital the entrepeneur needs to succeed. Customers buy and are influenced by their social networks. Social networks provide opportunities and information which the entrepreneur needs to succeed. Social network analysis provides a very rich set of tools by which the entrepreneur can analyze his or her social capital and manipulate their networks in order to manage risk and increase the odds of success. Note in the above quote I have substituted the work "link" for "tie." And if this interests you read the entire Wikipedia article and follow the links adn references. I assure you that you don't have enough hours to get your mind around all the stuff that's been written on Social Network Analysis.

Entrepreneurship informs everything I do. If it does this for you to, post a comment. For entrepreneurial real estate go to www.yourstopforrealestate.com/blog and for entrepreneurial writing to www.kearneymusicschoolmurders.blogspot.com

Networks

A network is one of the most elegant concepts ever conceived. A network is simply a set of nodes and links. It's as simple as that. Nodes and links. Nodes are points and links are the relationships which tie the nodes together. Entrepreneurs have to deal with many different kinds of networks: social networks, computer networks, electronic networks, road systems, and so forth. There is an immense body of literature analyzing networks stemming from social psychology, mathematics, and other fields. We'll try to sort it all out as we go forward.

Entrepreneurship informs all my other activities. If you read something interesting, post a comment. For my real estate blog, go to www.yourstopforrealestate.com/blog and for my writing blog, to www.kearneymusicschoolmurders.blotspot.com.