Assessment 1
As it has been observed that a good product that can fulfill the need of a customer is no longer enough to make the product famous among the desired audience group. Making a good product is one thing and its promotion via different networking media so that the desired audience has the idea about the product is became very necessary in today’s time to make sure that the product gets good value in terms of profit. The different media which can be used for product or service promotion could be as follows bulletin boards, communication-based on the face to face interaction, communication-based on virtual interaction, and lastly mailing these are some basic types of strategic networking ideas for the promotion of the desired product among the audience of choice. Strategic networking solves or is based on the three basic concepts that are having purpose second target and lastly the plan. The purpose is what the desired goal is that has to be fulfilled based on it the right strategic networking could be used, second, comes the target the service or the product which has been developed or has to be promoted contains what kind of audience because knowing this will lead to the third point plan which depends on the type of the customer you are having (Connelly, et al., 2020).
Among the many kinds of different network marketing, the top 3 among all of these have been described below based on the different needs and it has been found that this is the most frequent one which is used in many different kinds of purposes regarding the product and the services.
1 Casual contact networking – As from the name it has been clear that it is based on less interaction but all the necessary ideas and important discussion has been done at the time of the meeting it could be done every month based on the need.
2 Social media networks – One of the most powerful types of strategic networking is the social media network because of the amount of attention that could be gathered with very little effort and that makes it more usable and practical.
3 strong contact networks – In comparison with the causal interaction network it is based on more frequent interaction with the audience example every week.
Different types of strategic networking and their key features have been explained below:
As has already been discussed above that there is a different kind of strategic networking but the top 3 among all of these have been discussed below based on their practical use in real life and these are:
1 Casual contact network – It happened every month or as per the need.
2 social media networks – It covers a large group audience in a very short period
3 strong contact networks – The best part about it is that it occurs more frequently so any kind of update or new information could be easily and quickly passed to the desired audience (Drake, 2017).
The most likely stakeholders which are both internal and external for the types of strategic networking have been explained below:
The stakeholders which are involved in different strategic networking are generally the same as stakeholders are those persons who are having some sort of involvement and interest in the firm which is influenced by its success and failure. The most common type of stakeholders that is being used in the above-described strategic networking is the employee and the staff member. And all of the audience which is involved or being targeted for the desired product or service to advertise are the main stakeholders and they come in the category of the external stakeholders and the workers at the facility would be considered as the internal stakeholders (Kahle, et al., 2018).
The strategic values and the likelihood of the company involves are as follows:
The most basic benefit that any firm will directly get from this area is the base of the customer which are the potential candidates among all and not only that strategic marketing also helps in the promotion of the brand.
Specific benefits and values for the organization are as follows:
certainty from the analyzed data, having answers on what-if scenarios, chances of collaboration getting high by the significant amount and from the strategic networking point of view is very positive and good, and last but not least value chain practice.
The most common types of items that can be used for communication are as follows:
To solve the purpose there are many kinds of communication technology that could be used but among all, some of the most efficient ways of communication methods have been described below:
1 E-mail – This is being used for communication purposes for a very long time as it is the formal and also the fastest way of communication.
2 Meetings – Talking about the ideas and concepts which are required to discuss among the audience and staff on the spot makes it a more practical way of communication and effective also.
3 Forum – Fill up with the most important information only that needs to be passed on to the other desired target making it also one of the most useful ways of communication.
The common risk that could be involved in an organization or the adverse publicity is as follows:
In any organization multiple risks could be involved while completing the desired goal:
1 Technology risk – It is consisting of the failure of invaluable and important instruments which could lead to failure or delay in any kind of objective that the company has to be achieved.
2 Communication risk – While handling the business at a big level it includes different sorts of communication so that there is a connection between the different staff members which is necessary for the accomplishment of the work and getting any kind of interruption in communication could lead to project failure.
3 Operational risk – when multiple items get malfunction in the organization such as the IT system, issues in human resources, and lastly the financial risk which involves most value and combining all of this will lead to a negative result.
Code of conduct or related information requirement are as follows written below:
The code of conduct is included to make sure that the main objective doesn’t get violated by any means and the main code of conduct that has been required for the strategic networking involves miscommunication avoidance so that the misguidance could be avoided as passing the mis information would lead to any kind of mission or task failure.
Assessment 2
Part A
Reference document
Aim and objective
Strategic networking solves or is based on the three basic concepts that are having purpose second target and lastly the plan. The purpose is what the desired goal is that has to be fulfilled based on it the right strategic networking could be used, second, comes the target the service or the product which has been developed or has to be promoted contains what kind of audience because knowing this will lead to the third point plan which depends on the type of the customer you are having.
So, the main points which are involved in the are as follows:
1 Purpose – that has to be described based on the required audience
2 Target – it is based on the purpose which is needed to be fulfilled.
3 Plan – this is based on the target so that the plan could lead to the right result (Porter, & Woo, 2015).
Overview of the suggested and chosen network strategy
The chosen strategic network for the purpose has importance because of the feature that it has in its social strategic network one of the most powerful types of strategic networking is the social media network because of the amount of attention that could be gathered with very little effort and that makes it more usable and practical.
Considering all the point which has been described above make it more suitable for the desired purpose.
Strategic values
The most basic strategic values which are involved in networking are as follows:
1 It acts as a knowledge provider which will lead to better planning and exhibition of the idea on the ground level.
2 Serving the purpose of having a different perspective on an issue to solve can lead to better results in the objectives.
3 The best thing about it is the amount of knowledge exchange that occurs in every type of networking have in it.
Key stakeholders
Stakeholders are those people who have a direct and indirect influence on the objective of the firm and do have an interest in the firm the stakeholders could be anyone such as staff members, different employees who are working at the place, and the targeted customers who are the key stakeholder in it.
stakeholders which are involved in different strategic networking are generally the same as stakeholders are those persons who are having some sort of involvement and interest in the firm which is influenced by its success and failure.
The most common type of stakeholders that is being used in the above-described strategic networking is the employee and the staff member. And all of the audience which is involved or being targeted for the desired product or service to advertise are the main stakeholders and they come in the category of the external stakeholders and the workers at the facility would be considered as the internal stakeholders.
Communication method and strategies
Network marketing helps in covering a large group of potential customers that is by advertising the product by different means and not only that the most important thing that it includes is communication as it is only can possible by the right communication strategy otherwise the whole plan can go wrong and the product or service can be a big failure.
To solve the purpose there are many kinds of communication technology that could be used but among all, some of the most efficient ways of communication methods are as follows E-mail – This is being used for communication purposes for a very long time as it is the formal and also the fastest way of communication, Meetings – Talking about the ideas and concepts which are required to discuss among the audience and staff on the spot makes it a more practical way of communication and effective also, Forum – Fill up with the most important information only that needs to be passed on to the other desired target making it also one of the most useful ways of communication (Milovanović, et al., 2016).
Legal and policy requirements
The policy and procedures which have been included in every organization are for making the work environment favorable and the required objective could be done in the given time frame so that the company will have a positive result.
code of conduct is included to make sure that the main objective doesn’t get violated by any means and the main code of conduct that has been required for the strategic networking involves miscommunication avoidance so that the misguidance could be avoided as passing the mis information would lead to any kind of mission or task failure.
To avoid such scenarios and to gain overall growth there must be legal policies so that there is no wrong path could be chosen by any of the members in the workplace.
Part B
The code of conduct for strategic networking is as follows:
The code of conduct plays a very vital role in any kind of firm as it sets rules and regulations for others to follow so that the main objective of the firm could be achieved in the given time or deadline this is why it became very important to set rules and regulations right.
Roleplay
Operational manager: met a new friend at the group which I have joined recently.
Group member: the group that I have joined is about strategic networking which contains three types of top networking that is social, casual, and social networking.
Operational manager: joining a group that has better growth opportunities and that will lead to a better perspective on the knowledge that has been involved.
Group member: yes, you are right, as observing the success stories of those who are already achieved some goals will provide us a better knowledge.
Operational manager: yes, and to increase the reach and to maintain the networking inviting others is the only option, and discussing the important topic so that the main goal could be achieved.
Group member: yes, indeed to increase the reach it is important to invite the other people to make sure that the big area could be covered.
Operational manager: basic things which are required and things that will gain by it consultation, negotiation, and knowledge sharing among the different minds.
Group member: misguidance could lead to a chaotic situation.
Operational manager: yes, there are need to avoid such things to happen there is a need for policies and procedures.
Group member: yes, when multiple people get involved there is a chance of a chaotic situation it will be appreciable to work against it and to maintain harmony in the place.
Operational manager: after getting in contact with lots of different minds it has been observed that there is much more knowledge and upgradation that has been required for the overall growth and one must always do things as per the time.
Group member: yes, indeed you have highlighted the right path to move on not only that but having mutual goals or similar will also provide the right direction to move in and to get the desired goal always (Acute, et al., 2017).
Part C
Reflection paper based on the experience gained by the strategic network
Getting in-depth knowledge about strategic networking has provided me with the proper knowledge that is required to understand the concept better and not only that different viewpoint on the subject has let the in-depth knowledge about how a good product alone is not enough which there is proper networking for promotion is required so that the desired customer get awarded about it.
Previous thoughts on relevance and efficacy of strategic network
Before the thought was more about making a good product that can fulfill the desired need of customers from every point of view but after getting the idea from the strategic network it has provided a different viewpoint to look at such as the proper marketing and connection is far more important than making a good product.
Changes in perception after changing the actual network
Changes are required in any organization to make sure that sustainability could be maintained not only continuous improvement is also the golden key. Keep on improving with time is required the most.
Always moving forward and making necessary changes in the current work whether it is strategic networking or else continuous improvement is needed the most for the growth of any business.
Assessment task
Portfolio
Example of strategic network
There are many kinds of strategic networking out there to solve the purpose of networking but the top 3 among all of them are listed below:
1 social strategic network
2 casual contact strategic network
3 strong contact strategic network
Efficacy of virtual communities
Virtual communities are being developed more rapidly nowadays because of the feature that it offers which are as follows:
1 flexible as the time dependency gets reduced on using it.
2 professional development with the discussion among the different minds.
3 knowledge management tools that increase understanding and lead to a better collaboration of team members.
Legislation based related to online or internet-based communications.
Online safety bill 2021. This act provides safety to those who are using online media for communication
A formal informal communication channel that can be used in any industry and sector
Formal communication is mostly official communication and grapevine communication is known as an informal way of communication. Formal communication involves topics regarding the workplace and the type of informal communication are gossip, cluster, and single stand.
Diversity, gender, and disability issues.
There is much diversity in the discussion activity based on different minds there are too many solutions and approaches for the problem and that has provided a larger picture for everyone to look oat
There is gender equality as everyone is having the right to put their point in front of the audience and can convey their message to them.
Communication method.
the different communication methods that are being used are as follows
1 verbal communication\
2 non-verbal communication
3 written communication
4 listening
5 visual communication
Five conflict resolution techniques
1 collaborating
2 competing
3 avoiding
4 accommodating
5 compromising.
References
Acute, M., Morissette, M., & Tsouros, A. (2017). City diplomacy: Towards more strategic networking? Learning with WHO healthy cities. Global Policy, 8(1), 14-22.
Connelly, S., Bryant, M., & Sharp, L. (2020). Creating legitimacy for citizen initiatives: Representation, identity, and strategic networking. Planning Theory & Practice, 21(3), 392-409.
Drake, K. (2017). The power of networking. Nursing Management, 48(9), 56.
Kahle, J., Risch, K., Wanke, A., & Lang, D. J. (2018). Strategic networking for sustainability: Lessons learned from two case studies in higher education. Sustainability, 10(12), 4646.
Krželj-Čolović, Z., Vrdoljak Raguž, I., & Beran, I. M. (2016). Strategic networking in hospitality industry. In Neostrategic Management (pp. 27-43). Springer, Cham.
Miller, N. J., Besser, T. L., & Malshe, A. (2015). Small Business Strategic Networking: Impacts and Outcomes. In Marketing, Technology and Customer Commitment in the New Economy (pp. 47-48). Springer, Cham.
Milovanović, B. M., Primorac, D., & Kozina, G. (2016). TWO-DIMENSIONAL ANALYSIS OF THE INFLUENCE OF STRATEGIC NETWORKING ON ENTREPRENEURIAL ORIENTATION AND BUSINESS PERFORMANCE AMONG SMEs. Technical vjesnik/Technical Gazette, 23(1).
Porter, C. M., & Woo, S. E. (2015). Untangling the networking phenomenon: A dynamic psychological perspective on how and why people network. Journal of Management, 41(5), 1477-1500.