What Is Social Networking and Why Should You Care?

Juliette Powell

The new order favors those who network, create buzz, and promote their brand. Even if the bubble bursts—and we predict it will—the power of social media to transform our businesses and society will only grow

—Newsweek

From MySpace to Facebook and LinkedIn to Webkinz, social networks are all over news headlines and everyone is talking about them. The question is: What are they, and why do they matter? And, more importantly, how do they apply to you and your business?

The concept of a social network goes back long before the Internet (or for that matter, the personal computer) was ever invented. It refers to a community in which individuals are somehow connected—through friendship, ...