Business networking as a Prt of The Credential Research Unit

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Business networking is one of the Credential IV Research Units for Business Administration at North Metropolitan Tafe. The course plays an important role in learning the capabilities that are important to the managerial and administrative procedures of the Workplace. This research would concentrate on market networking, the building of confidence in negotiations and the qualification of successful negotiations. It will also address the creation of support networks and a reflection on company networking.
Defining networking
Business networking is the manner in which business and personal relationships are leveraged to allow a business to provide a new business supply (Österle, Fleisch and Alt 271). In business, networking is more than meeting up with people at networking function-shaking hands and collecting a bunch of cards. It requires individuals to be proactive. According to Ford and Mouzas (433), business networking is the conscious attempt of actors to change the process of interactions in a network where they operate. Business network networking is a marketing tool that is developed for sales opportunities and contacts such as introductions and referrals. It is a significant cost-effective tool where sales are developed in a meeting, through phones, email and face to face techniques.
Creating Trust
The ability to build and sustain a strong network is hugely determined by the trust; therefore, trust is a crucial element in networking. Some important skills and techniques can be used to build trust in networking. Firstly, individuals need to be assertive and confident. There is need for individuals to act warmly and act competently when negotiating with parties. Additionally, factors like gratitude, loyalty, reliability, interests, affirmative, and empathy help individuals to build trust in negotiations.
Description of the Qualification
Multiple skills will be learned from the program. Key includes administrative skills, which is critical in ensuring that various processes in an organization are undertaken most efficiently. Another course in the program includes the coordination of various resources in the organization. The various units to be undertaken in the program would be vital in the execution of various business activities as an administrator.
Main Support Network
The main support networks I have created are peer-to-peer support, authority network, and business networks. The two support networks are very critical for me as they promote my education and my career path. Peer to peer network is a source of motivation for me and provides a means for overcoming challenges in learning. The business network and the authority are like my mentors. I source out techniques that are crucial for building a successful career path.
I created the peer network through socialization on social media and in informal gathering while I created the business network through formal business meetings. Through groups' discussions among other interactions, my peer network will benefit from me, excellent performance and acquisition of excellent skills will be useful to the business network as I can make a good employee to them. I will maintain a good record of my network, stay active on social media and keep in touch with my friends.
Networking Reflection
Networking is a fascinating course that all individual taking business courses need to take. At first, I felt networking is something straightforward and easy to achieve. I felt like networking would easily make individual make sales and make more profits by increasing the marketing. Unfortunately, I was surprised that networking requires skills and individuals need to employ the skills and tactics during negotiations. In fact building, a network is not as easy for anyone. I read a lot of material on the internet, and I learned the many techniques that can be used in building a network such as seeking referrals, using testimonials, participating in business meetings, using blogs and being social.
The hardest part of the networking strategy is learning to be social. It takes a lot of effort for a partly introverted person to be social to get the courage to talk to freely and confidently to new people. However, I had to be social for the success of negotiation process and building a network. I did a lot of practice negotiation, I build my confidence and assertiveness and being social became part me eventually.
Positive outcome in a negotiation is one that leads to a win-win situation. In this case, I researched a lot about individuals I was going to negotiate with, I prepared my thoughts and what I would discuss, and I would set my objectives of building the network. All through negotiations I ensured that there was value for both me and the other party and thus the development of a win-win situation. The fact that I had learned to be social made the negotiations process easier for me. Socialization boosted my confidence and ensuring the attainment of value in the negotiations.
The easiest ways to collect feedback for the evaluation of the networking process is by using contact forms and email and the use of surveys. The use of email is very candid and valuable in the collection of feedback from a customer while surveys can be challenging when selecting the most important questions out of the many that could be used.
There are several policies that an individual needs to consider during negotiations and when building networks. The policies include abiding by the codes of conduct such as respect, integrity, humanity, the privacy of individuals, and courtesy. When negotiation, it is critical to respect the confidentiality of the information acquired as well as act honestly and with loyalty.

Works Cited
Ford, David, and Stefanos Mouzas. "The theory and practice of business networking." Industrial Marketing Management 42.3 (2013): 433-442.
Österle, Hubert, Elgar Fleisch, and Rainer Alt. Business networking: shaping collaboration between enterprises. Springer Science & Business Media, 2011.

October 20, 2021

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