The paper 'The Business Networks Available for the Organization' is a great example of a business assignment. Networking has become an important way of building and developing a successful business. Today, individuals and forms build networks to help attract new sales leads, enhance positive relations with the existing contacts. In other words, networking is regarded as the most cost-effective way of marketing. Townsend notes that, if done well, networking can have a positive impact on the organization (6). Boroondara Business Network (Melbourne) is one of the business networks available for the organization.
The network provides individuals and firms with the opportunity to meet, share ideas and market themselves and products. The contact with the Boroondara Business Network was created through mobile phone contact, email, website, and monthly meeting. Nevertheless, to develop an effective network and contact, people involved in the development network and contacts meet regularly to enable them to know each other, advertise themselves to new members, and appreciate other individuals that are part of the network. Additionally, members of the network must share information and experiences professionally.
Networking StrategiesBelow are some of the networking strategies that I could use in developing new networks and contacts. Knowing what to offer to the networkSetting goals and prioritiesDistributing materialsSelling to individualsMaintain regular contactsKeeping trackHow the above-listed strategies will help promote an organization and its objectivesKnowing what to offer to the networkBecause networking as give and take activity, it is critical for anyone who intends to participate in a networking activity to offer others in the network. This is important in networking because if one focuses on what he/she has to offer to others than what he/she is to gain, the networking is destined to succeed. Setting goals and prioritiesTo have a successful network, an organization needs to understand what it intends to achieve from the news to establish its priorities.
Setting priorities will help an organization focus on what it wants to achieve instead of getting overtaken by other unnecessary issues. Distribute materialsTo have successful networking, an organization should ensure that it gains visibility and awareness as much as possible. This requires advertising the business or brand to help create awareness of the organization's services or products.
This can be done by issuing business cards, brochures, calendars, and DVDs, among others. Selling to individuals Selling to certain persons is important because it makes an individual or organization become known. This is important because it can help a great deal if the individual to whom one is selling has wide connections. This can benefit an individual and the organization through referral. Keeping regular contactsAfter developing networks and contacts, it is important to build a lasting relationship to ensure success. Fortunately, the best way to maintain contacts and networks is to maintain regular contact.
Keeping trackLastly, having a successful network and contact requires one to keep track of the people they have met, understand what they are up to, and share information with them to enhance growth and development. Interpersonal Skills required developing network contacts effectivelyActive listeningGetting involvedPositive attitudeEmbracing differences in opinions Embracing cultural diversityBeing respectfulSeeking clarificationAssisting othersDescription of how information in new contacts should be shared, recorded, and communicated with other people in the companyThere are various ways through which the information in new contacts can be shared, recorded, and communicated with others in the company.
These include written reports, sharing in a meeting, sharing through oral presentation, putting the information in the company database, emailing to everyone, or sharing it at a function. Importance of sharing new contact information with people in your company and its benefit to the companySharing new contact information with new people in the company is important because it enhances a company’ s competitive advantage. Secondly, sharing information is important because it promotes teamwork, which is critical for successfully working together. Thirdly, communication between persons and teams is fundamental for organizational success.
Lastly, sharing information enhances the level of trust and respect, which promotes teamwork and success. There are, however, many benefits that the organization will derive from sharing new contact information in the company. These include enhancing the penetration of the company brand into the existing market; makes it easy for the company to open a new market; enables the application of new technology; and create a chance for the development of new services or products. Lists of networks that I could participate in to build and maintain personal knowledge and skills. NetworksName Date Cost ObjectivesBoroondara Business Network (Melbourne) June 2015 Free Assist people in starting a business or growing their business with ideas on how to go about it to ensure success. Roosters and Feather Dusters (Melbourne) May 2015 Free Provides business people, company managers, and employees with a platform where they can connect, build relationships, and share business ideasNetworking Chats (Brisbane) March 2015 free Provides business entrepreneurs with a platform to connect with small business persons and share ideas and knowledge through relationship building. The kinds of professional contacts/relationships that I haveThe most important contacts/relationships that I have include social networking friends on Facebook, LinkedIn, and Twitter, loyal customers, and company suppliers. Why these relationships/contacts are importantSocial networking group: this contact is important because it allows me to keep in touch with the group, participate in online activities, and welcome new members to the contact.
Loyal customers: loyal customers are important because they keep the organization abreast of new events and promotions and ensure that a company has a market for its services and products. Company suppliers: suppliers ensure that the company does not fall short of supplies.
The challenge I have experienced in keeping a professional relationship healthy and how I overcome the problem. The greatest challenge has been to do with misunderstanding in the group. Despite the challenge, I have always addressed it by advising members of the group to be positive, real, show appreciation for each other, be reliable, and embrace cultural differences. Action plan for managing business relationships effectively. Below are the steps that, if followed appropriately, can help build business relationships and resolve conflicts: Each member of the group must understand his goals and limitsKnow what other members needMake your position knownSeek support from other members of the groupJot them downKeep good relationshipsPart 3: Promote the relationship 3.1.
Below is how I will promote and present my interests at a networking event: Create a webpage, start a blog, sign to popular social media networks, have my profile on the company’ s website, as well as through presentation before an audience. 3.2. The following is how I can use my presentation skills, personal appearance, and body language to promote myself and ILSC.
Firstly, I will ensure that I understand the audience that I am supposed to address in terms of their native language, gender, level of education, religion, age, occupation, and expectations. Secondly, I will ensure that I arrive early enough. Thirdly, I will ensure that I am neatly dressed in the right attire for the occasion to make me feel good and boost my confidence. Fourthly, I will ensure that I greet everyone by shaking their right hands while all other things, such as a glass of water, are kept on the left.
Lastly, I will ensure that the name tag is placed on the right side of my chest. 3.3. The two communication barriers I might experience at the networking event include noise and lack of attention. Noise may come from external sources, such as moving vehicles or people shouting that makes hearing difficult. I would overcome this barrier by choosing a quiet room free of noise. Lack of attention may be a communication barrier as some people may not listen to what is being said or decide to engage in sideshows.
I would overcome this barrier by advising everyone in the networking event to pay attention to what the speaker has to say all the time. 3.4. The two ways that I can get feedback on my communication and networking skills to include surveys and focus groups. 3.5. The feedbacks gotten from the surveys and focus groups can act as an invaluable way of improving my promotional activities. The information obtained from these sources will point to my strengths and weaknesses, thereby improving my weaknesses in performance networking. 3.6.
Below is a summary of how I made contacts, developed rapport, and built trust with the new contacts: Firstly, I showed appreciation to the contacts. Secondly, I made known the actions of the group that contributed to my wellbeing. Additionally, I made know the needs of mine that were actually met by such actions, enabling me to establish a good relationship with others. However, as much as some of my needs were not met, I did not show hunger or disappointment as networking is a continuous process.
ReferencesTownsend, Heather. The Financial Times Guide to Business Networking: How to Use the Power of Online and Offline Networking for Business Success. New York, NY: Pearson Education Limited, 2014. Print.