Alumni new turn out to be an especially effective and kind of social network. With mushrooming educational centres around the globe, one way to stand out from domestic and international competition is by promoting its brand and institutes alumni are its best option connecting alumni networks for business always work.
Several examinations are performed between companies where the company’s manager and investor had gone to the same college with the Companies where there is no previous connection between officials and the investors. Result revealed story connection In stockholders and returns where there is a previous connection manager placed more concentrated bets and financial managers also performed better than those companies who don’t have any college or school connection.Stronger the connection higher the investment and return.
Now companies are finding investors for companies with their alumni to make better investment option. Companies that choose to connect with their alumni have outperformed the other non connected companies by 7% a year.
In 2000 in Canada these alumni connections got that dampen after coming of a fair disclosure regulation. It mandated equal opportunities rather than selective choice between investor and CEOs. However there were no such rules in the USA, China, Hong Kong and many more.The purpose of an association is to foster a spirit of loyalty and to promote the general welfare of your organization. Alumni associations exist to support the parent organization’s goals, and to strengthen the ties between alumni, the community, and the parent organization.
Power of alumni in education system:
1) Fund-raising – A strong alumni association can be one of the biggest benefactors of an institution that can contribute towards various developmental activities of the institution.
(2) Placements – thealumninetwork of a college is one of the biggest sources of placement opportunities to the students.
Alumni associations often provide a wealth of career services to help former students find job opportunities and improve their chances of landing a job offer. Career fairs, for example, bring together employers from around the area, and sometimes further, so that graduates can meet company representatives face-to-face.
Alumni network is a kind of social connection through this means they select individuals or groups from their old school batch and people with whom interest aligned closely. It also provides in-depth knowledge of the person with whom we are going to make a better deal. They better understand each other and establish common interest. These all factors make them potential partners and reliable business associates.