Differences between Operational, Personal, and Strategic Networking
Describe the differencesbetween the three forms of networking
There are three different kinds of networking- operational networking, personal networking and strategic networking. While operational networking is done with people employed within the organization who will help the company accomplish its organizational objectives efficiently, personal networking is done usually with people outside the organization, who can help the company in its growth with proper referral and recommendation, regrading coaching or mentoring support. On the other hand, strategic networking helps an organization identify and form lateral as well as vertical relationship with other functional and different business unit managers who can help the company identify and solve future priorities and challenges.
2. What are the benefits of networking?
Networking is highly beneficial and facilitates business growth in more than one way. First of all, networking helps in referrals which can be later converted into potential clients by the organization. Next, it also helps in sharing knowledge and opinions, that offers a chance to avoid pitfalls in future, and develop opportunities for future business growth (Ahsbahs and Prediger 2014). Networking also helps in increasing business exposure, contributing to the brand value of a company.
3. What are ‘clusters’ and ‘’brokers’ within a network in any organisation?
The clusters are defined as the network of brokers, who help in offering direct assistance to the organizations seeking networking opportunities, and act as agents helping to generate networks. While they promote and design the networking strategy on the one hand, they also manage the organization’s funds for networks, providing regular feedback to each of the networking actors involved. In case, a broker or a particular networking connection fails, another networking broker in the cluster is connected to the client.
Why is it important to network outside your organisation?
It is highly recommended to form external networks, as networking outside the organization helps in developing the brand reputation of the company, making people aware of the company, and increasing client base. External networking is also important as it can help in forming relations, which can later be transformed into creative collaborations for future ventures. Advices from external business persons can be invaluable resources for chalking out relevant business strategies for future organizational growth.
5. What is an ‘elevator pitch’?
An elevator pitch is defined as a short and crisp summary of the job role, skills and expertise of a person, briefly communicating the personal brand of the employee, on meeting a potential employer, client or customer. The word ‘elevator’ is used in the phrase to suggest that the personal brand endorsing summary should be explained within the short time taken to complete an elevator ride.
Benefits of Networking
6. Give examples networking events in any industry?
There can be various kinds of networking in any industry, and a few examples of networking found in the Hospitality industry may include conferences, workshops and seminars, food events, and blogging.
Part B: Practical Activity related to networking
Write a list of people/ positions you network with (or should network with in the given timeframes:
Daily: Faculty at my college, University staffs and friends and create a profile on LinkedIn, to get the contacts and build rapport with the prospective employers of the job market.
I communicate with recent graduates, building connection with the staffs working at my college’s career services office.
Attend the alumni networking events arranged by my college.
I will need to apply for unpaid or paid internships offered by recognized employees.
Connect with the recognized companies over social networking sites, including Instagram, Pinterest, and Facebook.
Attend professional seminars and training programs, as well as apply for informational interview.
Internet Activity: Complete the steps below
- Go to linkedin.com
- If you are not a member, then join LinkedIn. If you are already a member, login to your account
- Go to ‘Interests’. then ‘Groups’
- Go to ‘Find a Group’ and type in any topic/industry that is of interest to you (for example: ‘hospitality’ or ‘engineering’ or ‘golf’
- Join any group
- Write the name of the group you joined here: ________________________________
- Seek a connection with your trainer through your ‘LinkedIn’ account
1. Explain the five types of relationship typologiesdefined by Alan Fowler in your own words
Alan Fowler has formulated five distinct forms of relationship typologies, out of which the first one is Ally, where the two organizations agreeing upon to form alliance have mutual benefits, and may agree to share expertise, skill and knowledge in lieu of little or no money. The next form of relational typology is the project funder where the engagement revolves around any form of negotiation on discrete projects. that can include any form of assistance in the project, ranging from fine detail of design, implementation, monitoring, to evaluation. The programme supporter is the next relational typology used by Fowler that can be used to demonstrate relationships between entities where the concern in mutual and the programme organized may be used to accomplish organizational goals and themes such as environment and gender equality (Fowler 2017). The institutional supporter is the fourth kind of relational typology that help in facilitating overall development and organizational viability of both the companies, right from the formulation of policies to managing employees and enhancing organizational sustainability. Lastly, in case of partnership, both the organizations offer mutual support for the overall well-being of the companies involved, while also sharing the risks and benefits involved in the process.
What is a partnership?
Partnership is defined as the relation of collaboration existing between two firms, that is based on common or at least complementary goals, and where the involved organizations are committed for a prolonged period of time, sharing risks and benefits.
Clusters and Brokers within a Network
What are the three partnership principles? Explain whyeach of the three are important?
The three common partnership principles are equity, transparency and mutual benefit. First of all, equity is an important principle in partnership, as the term ‘equity’ is used to denote the ownership right of the business partners. All the partners involved in the business must enjoy an equitable access to the basic rights, such as the right of ownership or right to annual profit, and it helps in creating a relation of mutual trust required for collaboration in business (Pillay et al. 2017). Transparency, the second principle is equally important as it builds trust and clearly communicated expectations of the business partners are rooted in the foundation of business integrity and trustworthiness amongst the partners. Mutual benefit is the third pillar of effective partnership relation, as it helps in ensuring that each business partner involved is able to extract some sort of return through investment in business. If all the partners are not receiving benefits, their engagement in the organization will decrease, which will threaten the future sustainability of the organization.
Describe any Three key characteristics of effective relationships in networking and partnerships
The three most important characteristics of effective relationship are as follows:
Good interpersonal relationship amongst the members
Long-term commitment based on mutual trust and dependence .
5. What are some of the barriers that can come in the way of a successful partnership?
There can be some potential barriers impeding effective partnership relation among organizations, and these may include poor staff morale of the employees of the organizations involved, lack of possibility of aligning managerial or financial perspectives of the organizations involved, sudden change in organizational structure and culture.
Explain emotional intelligence and its relationship to individual and team effectiveness within an organisation
Emotional intelligence is defined as the capability of an individual to recognize his own emotion as well of others, control them with self-restraint and employ the use of the emotional information to guide the thought process and behavioural pattern and to adapt to the professional environment. Emotional intelligence is highly an important issue that deserves much attention in managing individual and team performance. For example, self-regulation is an important skill and in case an employee does not possess, he may end up venting out his frustration with his boss on a subordinate employee, and end up destroying his morale (Goleman et al. 2013). Again, in absence of social skills, a team member may pass an undesirable comment on a co-worker who might be coming from a different ethnic group, and hence staying empathetic to the emotional needs of the co-workers is important.
Importance of Networking outside Your Organization
Explain organisational transformation and the management of the stages of change during a partnership formation
Organizational transformation can be defined as a form of drastic change being introduced in an organization in order to alter the way a business is done and to re-structure or re-engineer the organizational activity followed in a company. Since organizational transformation is an important feature of any organization setting up to enter partnership, it is important to manage it effectively. First of all, the changes should be identified and need to be communicated to the stakeholders, especially the employees and the shareholders. Each stakeholder must have a clear understanding of the reasons, scope and benefits involved behind the introduction of the organizational change. Next, the benefits of the company, in the form of better profitability and returns, must be communicated to the stakeholders and shared with them. If necessary, the employees can be trained via professional seminars and workshops, t eliminate the problem of resistance.
8. What are some of the steps you would take if there were a conflictwith a network partner?
If I would have conflict with my partner, I would primarily try to resolve the conflict internally as much as possible, and if mutual discussion fails to mediate, I will go for an ‘Active Listening’ interactive session with him, to comprehend his perspective, and explain mine. If still the problem remains unresolved, it would be better to seek help of a trained, professional mediator.
9. Explain the five types of conflict management strategiesin your own words
Accommodating strategy allows the other side the consent to do whatever it wants, while avoidance strategy implies to putting off the conflict for as long as possible. Again, collaborating strategy is a conflict management strategy where multiple perspectives are integrated to discover a solution, while compromising strategy requires both the sides give up elements of their own position. Lastly, in case of competition strategy, action is taken whereby one side clearly wins and the other side loses.
10. What stepscan you take to end a partnership that is not working well?
If I wish to peacefully finish the ties with my business partner, I will try to legally dissolve the partnership, taking help from a legal expert. Next, I will either buy out my business partner, or I will sell my business share. I will inform the state revenue office, as well as my prospective stakeholders about the dissolution of my partnership agreement with my previous business partner.
What is an 'Elevator Pitch'?
This assessment has TWO parts
Part A: Prepare for networking
- Describe your organization briefly? (Name of the organisation, when was it established, location, what does it do, what are its key products and services, who are its main customers, number of employees etc)
- The name of my organization is Sydney Plaza, a restaurant operating in the fast food industry of Australia, since the last two years. Established in the year of 2015 in Sydney, Sydney Plaza has been able to establish itself as one of the most recognized restaurants offering hamburgers, French fries, desserts and hot dogs to the native Australians as well as the international tourists. The restaurant
2. Complete the following quiz about your own networking skills and identify your strengths and weaknesses"
Networking Weaving Strengths: After having completed the test, I have realized that my major strengths in networking include my opportunity-exploring nature and my ability to form my own vision and work accordingly and my habit of not letting my ego interfere while I go on to discuss professional opportunities and form networks with people.
Areas for Strengthening Skills: After completing the test, I discovered that I am not strategic at all, and this can be a hurdle in the way of networking with people, as I might not be able to crack conversation with the right audience, who might be interested in my skills and competencies. The next area of identified weakness is my inability to identify patterns in networks, as I am often unable to understand who might be interested in buying my skills, or which workshop can be relevant and useful for my career.
Prepare an ‘elevator pitch’about yourself and your organization that you can use at professional networking events. (You can look at examples here: https://yourpersonalbrandname.com/elevator-pitch-examples/)
Write your own ‘elevator pitch’ below.
I am currently studying in college, while also working as a part-time Sales Head at Sydney Plaza. I am studying graduation in
Your trainer will set up a business-networking event during class time. It is COMPULSORY to attend the scheduled networking event in class.
- You will be representing your selected organization at the network meeting
- You will meet and greet other invited members
- During the formal part of the networking meeting, you will be required to introduce yourself and your organization to the whole group.
- After the formal introductions, you will be required to identify any ONE organization with which you can form a partnership in the future to grow your business further.
Your trainer will observe you during the role-play and write his/her comments about your participation below:
Trainer to complete this section:
Student name: _____________________________
Student ID: ________________________________
Date observed: _____________________________
Good introduction o Confident delivery o Good body language o Satisfactory overall
Trainer name: ______________________________
Trainer signature: ___________________________
Networking Events in Any Industry
The CEO of BM wants to see an improvement in BM’s customer service standards. The other Senior Executives include the Finance Manager and the Human Resources Manager. The senior executive have made a decision to partner with a training organisation to achieve its long term goals. The annual budget for this program is $20,000. The funding will be provided by BM
It is your responsibility to develop a learning program partnershipfor BM with ACTB, a registered training organisation in order to:
Based on the above scenario, respond to the following questions:
What is the mission of your organisation?
The mission of Sydney Plaza is to create a wide variety of local foreign food products, serve them in a brief time to the consumers, to have each of our customers being greeted and thanked for coming, and to create a workplace ambience where customer satisfaction is the last word.
What are the core values of your organisation?
The core values of Sydney Plaza are as follows:
- Mutual respect amongst all the employees, team members and customers
- Excellent quality of customer service
- Economic sustainability.
What are the strategic goals of your organisation?
The strategic goals of Sydney Plaza is to develop our brand identity so that the customers from different locations of Australia become aware of the quality service provided here, to increase traffic, and thereby to improve profit margin, so that there is at least a 15% rise in annual revenue by the year of 2018.
List at least three specific laws that your organisation must comply with:
The three specific laws that Sydney Plaza must abide by, are as follows:
- Queensland Food Safety Legislation, Food Regulation 2006
- Trade Practices 1974
- Meat Industry Act 1978
Read the ‘Checklist for setting up and maintaining the partnership’ on Page 16-18 of Reading 3(Partnerships: Frameworks for working together) to understand how you can develop a detailed plan for the above partnership between your workplace and ACTB. Answer the questions below:
What is the need for a partnership with ACTB?
BM will form partnership with the Australian College of Technology and Business because it will help BM to offer food products such as dry fruits, nuts and chips to the students during their lunch breaks, and will help the emerging retail store its brand value amongst a larger customer base. The benefit that ACTB will derive from this, is that it will be able to receive a good share of the profit earned by Sydney Plaza through sale of items at the ACTB premise.
What benefits will be gained for BM by this partnership?
BM will be able to increase its customer base and enhance brand image.
Practical Activity Related to Networking
What benefits will be there for ACTB?
ACTB will benefit from the share it will receive from the monthly revenue of BM.
Who should be involved in the discussions regarding forming a partnership between BM and ACTB?
The management authority of BM and ACTB will be primarily involved while forming partnership between the two organizations, and once the partnership deal is approved, the other stakeholders such as the employees and the shareholders will be involved.
List the responsibilities of ACTB in the partnership.
Help BM develop brand image at ACTB through advertising efforts such as pamphlets, brochures, etc.
Assist BM with the legislative requirements of entering into a partnership agreement in Australia (Fund 2010).
List the responsibilities of BM in the partnership
Ensure equitable share of profit with ACTB
Share relevant information about the daily sales
Stay jointly liable for the quality of retail service offered to the students of ACTB.
What is the function and nature of the partnership?
The nature of partnership entered between BM and ACTB is cross-sector partnership, where organizations from different sectors with divergent needs enter partnership agreement.
1. What are the benefits and outcomes for the target groups?
The target group, that is the students at ACTB will be able to gain easy and quick access to a variety of food products within the college campus only.
1. Setting up and maintaining the partnership
1. What is the vision and agreed goals for this partnership?
The vision of this partnership is to ensure that the students of ACTB are able to enjoy good quality food service within the campus and both ACTB and BM are able to enjoyer increased traffic and higher returns.
What skills and competencies will be needed to manage and support the partnership?
In order to manage the partnership, good customer care skill, soft skills especially effective communication skills and analytical skills will be required.
1. What is the recommended process for decision making?
The Democratic method of decision-making will be recommended as it will enable each partner enjoy the opportunity to ask questions, share concerns and present alternatives by casting votes, eliminating the possibility of partnership conflicts.
1. What processes can be used for performance monitoring?
A regular survey on the consumers (the students of ACTB) can be used to monitor performance.
1. Who will fund the program?
The management authority of both the companies concerned will fund the programme.
Develop a communication strategy for BM and ACTB
Regular interactive strategy at least once a week will be employed as a communication strategy.
1. Define ground rules between BM and ACTB
The ground rules of partnership will involve ensuring integrity in business, being transparent while sharing business relation, and communicating every aspect of the business condition to the other partner.
1. Develop an administration plan for this partnership to work effectively
- Communicate the shared vision over regular intervals
- Communicate the aims, purpose and benefits of the partnership at periodical intervals
- Create robust communication strategy. Gauge organizational performance
- Identify issues and resolve them.
Bikner-Ahsbahs, A. and Prediger, S., 2014. Networking as Research Practices: Methodological Lessons Learnt from the Case Studies. In Networking of Theories as a Research Practice in Mathematics Education (pp. 235-247). Springer International Publishing.
Fowler, C., 2017. Relational typologies, assemblage theory and early bronze age burials. Cambridge Archaeological Journal, 27(1), pp.95-109.
Fund, C.C., 2010. Partnerships: Frameworks for working together. Retrieved September, 12, p.2013.
Goleman, D., Boyatzis, R.E. and McKee, A., 2013. Primal leadership: Unleashing the power of emotional intelligence. Harvard Business Press.
Pillay, H., Flynn, M., Watters, J.J. and Hoff, L., 2017. Public-Private Partnership Principles Applied to Industry-School Partnership to Support Technical and Vocational Education. In Adult Education and Vocational Training in the Digital Age (pp. 18-36). IGI Global.
To export a reference to this article please select a referencing stye below:
My Assignment Help. (2022). Networking And Partnerships. Retrieved from https://myassignmenthelp.com/free-samples/bsb80615-graduate-diploma-of-management/the-benefits-of-networking-file-A9E7A4.html.
"Networking And Partnerships." My Assignment Help, 2022, https://myassignmenthelp.com/free-samples/bsb80615-graduate-diploma-of-management/the-benefits-of-networking-file-A9E7A4.html.
My Assignment Help (2022) Networking And Partnerships [Online]. Available from: https://myassignmenthelp.com/free-samples/bsb80615-graduate-diploma-of-management/the-benefits-of-networking-file-A9E7A4.html
[Accessed 30 November 2023].
My Assignment Help. 'Networking And Partnerships' (My Assignment Help, 2022) <https://myassignmenthelp.com/free-samples/bsb80615-graduate-diploma-of-management/the-benefits-of-networking-file-A9E7A4.html> accessed 30 November 2023.
My Assignment Help. Networking And Partnerships [Internet]. My Assignment Help. 2022 [cited 30 November 2023]. Available from: https://myassignmenthelp.com/free-samples/bsb80615-graduate-diploma-of-management/the-benefits-of-networking-file-A9E7A4.html.