BSBTW4301 Networking Report: Analyzing Gymology's Open Day

This report identifies and analyzes networking opportunities for Gymology's open day, differentiating between formal and informal approaches. It explores the benefits of establishing both types of networks, detailing how to obtain specialist advice on contact development and identifying common bar...Read More

BSBTW4301 | AT4 Networking report template
AT4 Part B
Networking Report / Open Day
In relation to Gymology, identify four networking opportunities, considering the
objective of an open day. Include both formal and informal.
No. Formal or informal? Description of networking opportunity
1 Informal Conferences: It is the networking opportunity wherein
opinions as well as thoughts are exchanged or shared more
informally and readily. With this, Gymology is able to learn
new abilities while meeting with other professionals at other
places. For a person or representative of organisation,
talking to strangers without being awkward is way easier at
conferences so to interact with other professionals with the
aim of forming connections, seeking advice along with
developing healthy relationships.
2 Informal Informational interviews: It is organisation specific
networking opportunity that benefits the company and its
people. With this, Gymology has opportunity to learn more
about the company as potential clients so to make
connections.
3 Formal Mixers: The networking opportunity involve casual events in
variety of setting that comprises professional from distinct
background. In case with Gymology, the networking
opportunity helps in meeting with people that the company
may not have otherwise met.
4 Formal Roundtable events: The networking opportunity of
roundtable is beneficial for people and companies that are
looking to advance their knowledge through communication
with peers. In case with Gymology, the opportunity
contributes in creating ideas along with encouraging people
to share valuable knowledge with others. It provides with
new ideas while making new connections in meantime.
Describe the benefits of establishing both formal and informal networks.
Benefits of formal networks Benefits of informal networks
 Formal networking is about sharing
which forms trust that strengthens
business connections.
 Formal network is effective source
of getting fresh ideas and
perspectives about any situation or
event.
 Foster greater performances,
efficiency addition to innovation.
 Informal networking has powerful
positive influence on job satisfaction
and productivity.
 It assists in attaining business goals
through compensating formal
© 2021 Eduworks Resources
Modified by MCI Digital Design Management Consultancy International Pty Ltd 2016
Page
Issued April 2021 Level 4, 23 Hunter Street, Sydney NSW 2000
Version 1.0
ABN 58 103 488 482 T 1300 768 550 | F 9230 0940 | [e-mail]
Review May 2022

BSBTW4301 | AT4 Networking report template
Describe the benefits of establishing both formal and informal networks.
 Generates new business leads and
reduces chances of errors or
mistakes.
structure.
Describe how you would obtain specialist advice on how to develop the above
contacts.
Specialists advices about ways to develop contacts would be obtained through meeting
right people. It goes without saying that there is requirement for meeting right people to
develop trustful contacts. Moreover, decisions or taking assistance for developing contacts
needs to be balanced against what specialist brings to table. The quality of specialist is
used by Gymology has much to do with outcomes they receive. It is required to have
thoroughly explained kinds of contact a company need. Without the criterion, the special
advice will not have the potential for providing the company with anything that are more
than generic contacts.
Identify a minimum of three barriers to business relationships and explain how
these may be overcome.
Business relationships are termed as connections which exists among all enterprises
which engage in commerce. Some of barriers to business relationships along with ways to
overcome them are as follows:
Inadequate communication channel: It is barrier to business relationship as ineffective
communication is pairing wrong channel with wrong message. In case with the company,
the barrier could be overcome through making rational decision about direct channels and
more understandable message.
Language differences: In business relationships, differences in language is another
barrier. It is because multilingual professionals may struggle to understand and use certain
words when language they used for communicating is not primarily language. For
overcoming language differences, it is essential to urge other business professionals to
avoid idioms, jargons and colloquialisms that creates complexities in translating accurately.
Cultural barriers: Professionals from different businesses faces conflicting values addition
to ethnocentrism that severely damages business relationship and brand reputation left
unresolved. For overcoming the barrier, strategy include ensuring communication of brand
values clearly to all people, scheduling regular sensitivity training in order to encourage
open mindedness as well as mutual respect among members.
© 2021 Eduworks Resources
Modified by MCI Digital Design Management Consultancy International Pty Ltd 2016
Page
Issued April 2021 Level 4, 23 Hunter Street, Sydney NSW 2000
Version 1.0
ABN 58 103 488 482 T 1300 768 550 | F 9230 0940 | [e-mail]
Review May 2022

BSBTW4301 | AT4 Networking report template
Explain how you joined in one formal network association by describing the
professional development need and process you followed to join the network.
Subscription to free online industry magazines is the formal network association that is
joined with development need of developing new skill set, expanding professional network,
finding ways for deepening job satisfaction and consume media in the field. For joining the
network, I directly went to magazine website, further, there was the section of website
dedicated for subscriptions. An option appeared on corner of website as I browse.
Subscribe button was clicked and it took me to a page where I provide my information.
Describe how you participated in this formal network association; for example,
outline who you spoke to and what you discussed or the information that was
provided.
For participation in the formal network associations, that is subscription to free online
industry magazines, I spoke with the Online magazine makers and team of customer care
services of the association. With these people, information discussed was about how much
it will cost to obtain the subscription, time period to enjoy the services of the subscription,
in case, if the subscription gets expired, what will be the procedure to renew or update it
again as well as terms and conditions for getting the subscription.
© 2021 Eduworks Resources
Modified by MCI Digital Design Management Consultancy International Pty Ltd 2016
Page
Issued April 2021 Level 4, 23 Hunter Street, Sydney NSW 2000
Version 1.0
ABN 58 103 488 482 T 1300 768 550 | F 9230 0940 | [e-mail]
Review May 2022