The aim of this paper is to contribute to the development of the concept of business networking. Recent literature associated with the IMP Group's research refers to business networking as the conscious attempts of an actor to change the structure or process of interactions within particular relationships or the wider network in which it operates. The paper draws on early research in marketing and distribution that contributed strongly to the IMP research theme and contrasts this research with the more recent managerial tradition in marketing research. The paper builds on this early research and that of the IMP Group to present a structure for the analysis of business networking. The paper illustrates this analysis with a case study and draws conclusions on the concept of business networking and on its practice.