Assessment 3: Impact of B2B Networking on Australian Businesses

This report is an individual reflective journal assessing the impact of business-to-business (B2B) networking on business innovation and performance in Australia. The student analyzes the benefits of B2B networking, including enhanced market share, profitability, and innovativeness, and the importance of strong business relationships. The journal explores the learning process, from initial research to practical application, and discusses the usefulness of this knowledge for future career development, including organizing seminars and contributing to organizational performance. The report also addresses potential negative aspects of B2B networking, such as resistance to change and contract breaches, while providing solutions to mitigate these issues. The student evaluates their learning, emphasizing the significance of B2B networking for gaining a competitive advantage and the importance of research in solving both internal and external problems. The report concludes with a reflection on the research plan and its application in the future, along with a comprehensive list of references, including books and journals, that support the analysis and findings.

Impact of business to
business networking on
business innovations and
performance in Australia

Table of Contents
ASSESSMENT 3: Individual Reflective Journal............................................................................1
Question 1: Evaluation of my effectiveness and usefulness of the learning experience........1
Question 2: What is the usefulness of this learning process in my future life.......................1
Question 3: What have happened in my learning process......................................................2
Question 4: Evaluation of my learning...................................................................................3
Question 5 Explanation of my learning process.....................................................................4
Question 6 How this research plan will be applied in the future............................................4
REFERENCES................................................................................................................................5

ASSESSMENT 3: Individual Reflective Journal
Question 1: Evaluation of my effectiveness and usefulness of the learning experience
From the literature review and research proposal which is based on the topic “Impact of
Business to business networking on the business performance and innovation in Australia” I
have learned that the organisation is able to enhance their performance when they are dealing
and making contract with the different organisation in Australia. They have started thinking
innovative ideas by which they can grab large market share and increase their profitability. From
my learning, I can analyse that it is very useful for different organisation and their employees to
know the importance of business to business transaction and networking in order to improve
their performance, profitability, market share and innovativeness. Large organisation are trying
to create effective and strong contract with the small organisation in order to make selling and
purchasing of goods and services, and exchange of information and ideas this help them to
improve their performance.
As per my learning I can say that this strategy is very effective for the company to reduce
their risk with that they can improve their performance. If the goods are kept at the warehouse of
the firm, then there is large chance that the products will spoil and if it is distributed to the other
companies, then risk is shared to that venture and they are only responsible for both of the
activities that are selling of products and spoiled of goods. I learn the effectiveness, significance
and usefulness of business to business transaction and networking to enhance the innovativeness
of different firms. As per my opinion, company should implement different strategies with that
they should also learn the importance and execution of business to business networking for
sharing the information, goods and services in order to improve performance and innovation. I
value the experience I have got from the deep study on this topic. I have aquired deep knowledge
about business to business networking and how information, ideas, products and services is
shared with that I have learned how this strategy is used to enhance firm's performance and
innovation.
Question 2: What is the usefulness of this learning process in my future life.
This topic have given me deep knowledge and understanding about the business to
business networking, different activities involved in B to B networking. It also given me
effective knowledge how that task is implemented to improve performance of organisation in
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order to gain competitive advantage. With this knowledge, I can score good marks in my
examination. As it has given me practical knowledge and application, I can make effective
understanding in the mind of examiner about the topic. I can organise different programs for the
students in university, where I can explain the significance of business to business networking
for the large scale organisation and make clear understanding to the student that what are the
different task and process involved in B to B networking. And how that task add value in order
to improve productivity, performance, profitability and innovativeness of the organisation. The
program will be more interactive as different students will ask several questions and I will be
providing them answer and with the help that interactive program I can get more deep
understand and knowledge about the topic.
After completion of my studies, I am going to join any big organisation and with the help
of my knowledge about this topic, I can improve performance of that company. If the
performance of the venture will enhance, the firm will appreciate my work and serve me
additional incentive or promote me at higher level. With this appreciation I can achieve objective
of my life. There are some negative aspects of business to business networking such as it resist
organisation for change which will result in firm's death with that if the company made some
small mistake will breach in contract and it will spoil networking with the different companies. I
have also learned that how these problems can be solved in the future life in order to gain the
highest performance. The learning process starts with understanding business to business
transaction, further I learned how information and ideas is communicated and then how business
can develop their effective network with the other organisation. This process have served me
step by step learning which can effectively applied in my future life.
Question 3: What have happened in my learning process.
The learning process have started with creating aim and objective of the topic where I
have learned how aim is created and how that aim is divided into several objective. Further, then
I have learned how research question is made with the help of objective. Then I have written
proper literature review, where I have learned how content is critically analysed with the help of,
what the different authors have said about the topic. In literature review I have considered
different articles, books and journal with that I have learned how that content is mould in order
to give significance and proper research to the topic. From the different article I have read that
what is basic meaning of business to business networking, how the information and ideas are
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communicated with the help of effective network and how different organisation can transfer
their goods and services.
With that I have read that how different activities of B to B networking can be
implemented in the different companies in order to improve their profitability, productivity,
performance and innovativeness. While doing literature review and research proposal I have
seen the practical application of this strategy in the real environment of firms. With that I came
to know that this activity have several advantages but it also has disadvantages with that several
organisations is suffering very badly when they have executed business to business networking
in their firm. I have also seen the key reason, why they have failed and the reason behind is
improper planning or ineffective implementation. With that business to business networking also
resist change in the organisations. So the companies should consider the disadvantages of B to B
networking, if they want that it enhance performance and innovativeness.
Question 4: Evaluation of my learning
From this research project I have learned several aspects of the topic that are what is
business to business networking, different operation of B to B networking, how information is
conveyed through different network and how organisation can implement business to business in
effective way so that they can consider several disadvantages and take care of them that they do
not become barrier in implementation. With this knowledge I have learned that business to
business networking have become a prime source of gaining the highest performance and
innovation. Many private and public sector organisation hare highly dependent on the innovation
in order to gain competitive advantage. In order to deliver right innovation at the right time in
order to enhance their performance. And the organisations have to made continuous interaction
with the other companies with that they have to analyse their customer, stakeholders and
workers. I have evaluated that in the today's scenario gaining competitive advantage through
innovation have become necessary and innovation is gained through business to business
networking. I have analysed that business research is very significant with in the firm or to solve
the external problems. Research helps the company to solve the existing decision making
problems, which make the firm more profitable and solve that problems at the immediate
concern. More of the organisation gather information and ideas in order to make effective
decision and that can come through the contract with the different companies or from the
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business to business networking. Research need proper time, money and efforts in order to
collect data so that different organisation can implement their strategies in effective way.
Question 5 Explanation of my learning process
I the assignment 1, there is literature review and in the assignment 2 there is research
proposal. There are several reasons for writing literature review by me, that are it helps me
identify the gap in the current knowledge and experience. I help me to save my time for doing
the research on that topic at which research is being already done. It allows me to show that I am
building the foundation of existing ideas and knowledge that is to carry forward the research
where the other research have stopped. It helps me to identify the other people who are working
on the same topic and who have already made the research and to get in touch with that people
so that I can have deep knowledge and understanding about the topic. And to identify the
importance of the topic in the future with that it also helps me to find the opposing views. The
key reason behind writing the research proposal is to make the document which cover my area of
study and what I have planned for research project.
Question 6 How this research plan will be applied in the future
As this literature review and research proposal have given me the deep understand about
the topic. If I organise any seminar on business to business networking. This information and
understanding help me to make that seminar interacting with that I can share my research with
other people. At the time of working in any large organisation, I can help them that hoe B to B
networking can be applied and how they can enhance their performance and innovation. With
that this research also support other future research on the same topic.
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REFERENCES
Books and Journal
Agyapong, A. and Acquaah, M., 2016. The Direct and Indirect Effects of Innovative Capability
on Firm Performance: Evidence from Micro and Small Family Businesses in Ghana. In
Family Businesses in Sub-Saharan Africa. Palgrave Macmillan US.
Bassot, B., 2016. The reflective journal. Palgrave Macmillan.
Bruno, A. and Dell’Aversana, G., 2017. Reflective practicum in higher education: the influence
of the learning environment on the quality of learning. Assessment & Evaluation in Higher
Education. pp.1-14.
Gordon, S. P., 2016. Expanding our horizons: Alternative approaches to practitioner research.
Journal of Practitioner Research. 1(1). p.2.
Lee, C. and Sardeshmukh, S.R., 2016. Innovation, entrepreneurship, and restaurant performance:
a higher-order structural model. Tourism Management. 53. pp.215-228.
Ogasavara, M. H. and Barin Cruz, L., 2016. Experience, resources and export market
performance: The pivotal role of international business network ties. International
Marketing Review. 33(6). pp.867-893.
Reynolds, M., 2017. Organizing reflection. Routledge.
Schaltegger, S. and Wagner, M. eds., 2017. Managing the business case for sustainability: The
integration of social, environmental and economic performance. Routledge.
Vicary, S. and Hicks, S., 2017. A reflective journal as learning process and contribution to
quality and validity in interpretative phenomenological analysis. Qualitative Social Work.
16(4). pp.550-565.
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