Strategic Networks in Business Development: A Comprehensive Study

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STRATEGIC NETWORK

Contents
Introduction.................................................................................................................................................3
Written Questions Assessment Task 1.........................................................................................................4
1. What is a strategic network?................................................................................................................4
2. In order to establish strategic network connections the value and likely outcomes from participation
in networks should be identified. What are the personal and organisational benefits to be gained from
strategic networking?...............................................................................................................................4
3. Think about strategic networks you may belong to now, have belonged to in the past, or would like
to belong to. Choose two of these; one informal, one formal, and describe the scope of the network and
the value in belonging to this network. Consider the members of the network and the pros and cons in
terms of value..........................................................................................................................................5
4. What methods can be used to research and assess the value of strategic networks?............................5
5. Outline strategies and methods that can be used to maintain and expand strategic networks..............5
6. In implementing a value network approach what is meant by ‘relationship management?..................6
7. Outline strategies and methods that can be used to establish new network links to key internal and
external stakeholders...............................................................................................................................6
8. Identify the characteristics of a strong working network relationship. How are strong working
relationships developed and maintained among network members?........................................................6
10. Outline the principles of interpersonal, group and inter-agency communication as they relate to the
different public and business sectors.......................................................................................................7
11. Strategic networks provide valuable information. Discuss how interaction and consultation with
key stakeholders and networks can assist in business planning...............................................................7
12. What factors contribute to the development of conflicts in strategic networks? Outline effective
methods of conflict resolution appropriate for use within strategic networks..........................................7
13. How can networks be evaluated and improved in their ability to deliver beneficial outcomes for all
network members?...................................................................................................................................8
Project Assessment Task 2..........................................................................................................................8
Full description of the strategic network and its characteristics...............................................................8
Key features of the strategic network – members’/key stakeholders – needs, expectation and roles –
purpose – formal or informal...................................................................................................................9
Benefits to members – advantages – disadvantages – strategic value......................................................9
Communication channels used – frequency of contact..........................................................................10
Strategies employed by members – value and effectiveness..................................................................10
The measure of strategic network strength............................................................................................10

Benefits gained from the strategic network – outline examples of gains and degree of value...............10
Conflict within the network – sub-groups – responding to diversity in the group.................................11
The application of legislation, regulations and policies impacting on the network................................11
Legislation and regulation.....................................................................................................................11
Applying procedures relating to OHS and environment in the context of the strategic network............11
Case Study Assessment Task 3..................................................................................................................11
Outline how these requirements impact on the strategic network environments. In your response
address the following types of legislation:.............................................................................................11
Commonwealth Human Rights and Equal Opportunity.....................................................................11
Commonwealth Racial Discrimination..............................................................................................11
Commonwealth Sex Discrimination..................................................................................................12
Commonwealth Disability Discrimination Act..................................................................................12
Commonwealth Work Health and Safety Act:...................................................................................12
Relevant State/Territory legislation:..................................................................................................12
Describe the appropriate protocols and channels of communication within your network. What
principles apply to interpersonal, group and inter-agency communication?..........................................13
Formal communication channel.........................................................................................................13
Informal communication channel......................................................................................................13
Unofficial communication channel....................................................................................................13
Outline the range of communication methods used within your network. Methods you might consider
include consultation; liaison; negotiation; building influence and reputation; transparency..................15
Face to face communication..............................................................................................................15
Written communication.....................................................................................................................15
Two-way communication..................................................................................................................15
Social media communication.............................................................................................................15
Audio and video communication.......................................................................................................16
Does your network have a conflict or the potential for conflict? What are the likely causes of conflict
and what strategies will you use to resolve any conflicts?.....................................................................17
Causes of conflicts.............................................................................................................................17
Evaluate the effectiveness of the network and identify opportunities to act upon and improve
communication processes to achieve mutually beneficial outcomes......................................................19
Conclusion.................................................................................................................................................20
References.................................................................................................................................................20

Introduction
This report has discussed the network strategically in an organization with many more
organizations. This helps in leading the chain of the organization to work together. Network
strategy can be defined as to create the strategic connectivity by their trust, building linkage
between the two stakeholder and unusual bedfellows. This research discussed the three part of
assessment such as writing assessment, project assessment and portfolio assessment. These
assessments describe the features, role, methods, characteristics, functions, advantages and
disadvantages of the network strategy. This research helps to make the relationship with the
other organizations. It works on management approaches to build relationships with other
people. Also, this research analyzes how effective communication can work in strategy
management etcetera (Win et al., 2018).

Written Questions Assessment Task 1
1. What is a strategic network?
This is the type of network which is essential for the business development, personal growth and
knowledge exchange. The strategic network considers the approach towards the own network to
integrate tool and networking concept for the professional goals and business services. This
strategy can enable the executions, planning, skills and monitor actions. This helps in creating
multiple networks through the trust and linkage between the unusual bedfellows and key
stakeholder. This can also help in making the different networks to understand network
development and strategy development (Smith et al., 2019).
2. In order to establish strategic network connections the value and likely outcomes from
participation in networks should be identified. What are the personal and organisational
benefits to be gained from strategic networking?
This is to establish a network to make participation in the other network. A network is a group of
people who cooperate with another network. Its purpose is to help the other network together.
The importance of networking is to taking advantage of the valuable network and recognizing
with their goals (Strano et al., 2019).
This is related to the participation of another network which helps to build their relationship to
another network. By participation in the workplace can help to discuss their concern and develop
the solution to the work together (Lee et al., 2018).
Personal benefits
 It helps to maintain a good reputation
 It provides the opportunity to work together
 To reach their goals
 It can create a sense of blogging
 Strong relationship
Organizational benefits
 Creation of increased/referrals business
 Provides opportunities
 Help to makes connections
 To give advice
 Raising the business profile
 It can help to increase confidence
 Makes good friendship

3. Think about strategic networks you may belong to now, have belonged to in the past, or
would like to belong to. Choose two of these; one informal, one formal, and describe the
scope of the network and the value in belonging to this network. Consider the members of
the network and the pros and cons in terms of value.
The strategic network can help to work formally or informally with their scope and network. It
can be expanded with the networks' strategies by making the work formally and informally
(Kininmonth et al., 2019).
There are many scopes of the network as followed:
 To identify the work priority and work volume that must be undertaken by the networks.
 To establish the entered or exited markets.
 This is to set the market strategy with the profit of the new market and existed market
 To execute the sourcing, manufacturing, organizational structure, sales and technologies
etcetera.
4. What methods can be used to research and assess the value of strategic networks?
The strategic network is the type of network to maintain the relationship between the two
organizations. It helps to make the work together. Basically, there are two types of value of
strategic networks such as external value network and internal value network (Sharma et
al.2019).
The external network consists of those people and other interactions which help to work outside
the business organizations. It includes the users, customers, business partners, suppliers, and
intermediaries’ etcetera (Zee et al., 2018).
The internal network is the combinations of relationships and processes inside the business. It is
to consider creating effective relationships between the conducting roles within the
organizations. This is not limited to the business; also it exists with two or more people work
together by creating anything such as civil services, educations.
5. Outline strategies and methods that can be used to maintain and expand strategic
networks.
There are many methods and strategies to maintain the strategic network which can help to
maintain the two organisations by these points.
 This help in keeping the record of the network which is very essential for the future
aspects
 To get in touch with the social media that will always make you get in touch
 In organizations, these contacts are not the friend and they will be tough in your
professional career only
 To catch up with their closest ones
 To help them out quickly
 Always remember the ‘pleases’ and ‘thank you’.

There are also five strategies which can help to expand the business organization as followed:
 To attend target networking events
 Helps to reach out to a stranger
 It helps to volunteer
 Social media connection
6. In implementing a value network approach what is meant by ‘relationship management?
Value network approach can be defined as the set of connection between the individual and
organizations to interact with each other by the benefits of the entire group. It helps to sell and
buy a product to share information. By the value network approach, it helps to recognize the
customer relationships and deployed the customer relationships management to maintain
customer relationships better and also to build a relationship. The very important issues are to
maintain the recognition of customer and their management strategies. To implement the value
network approach to maintain the customer relationship with their design and suitable marketing
program to allocate and path appropriate with each other.
7. Outline strategies and methods that can be used to establish new network links to key
internal and external stakeholders
A stakeholder can be defined as a person who can lose or gain the outcomes of the planning
process, projects and programme. This helps in identifying the methods and strategies to
establish the network with the external and internal stakeholder. A stakeholder can help to
identify the target pull and group together with the possible information.
Internal stakeholder includes management and employees.
External stakeholder includes the competitor, customer and supplier.
The internal stakeholder is those whole can participate in the funding, coordination, resourcing
and publications by the strategy from the well being and local health partnerships.
External stakeholders are those who are engaged in contributions with their experience and
views in addressing the problems that are important for the service users, patients and employees
(Bekaii et al., 2018).
8. Identify the characteristics of a strong working network relationship. How are strong
working relationships developed and maintained among network members?
There are many characters which can help to make strong network relationships by these points:
 Networks are widely inclusive
 Network are highly managed
 It is beneficial for learning and sharing information.
 Realistic time delivery
 It delivered the successful outcomes

To develop and maintain a strong network through these points:
It demonstrates the respects, trust and mutual support
 Easy to use of technology
 To receive and get the support
 Good communication with network member of clear channel
 Commitments towards the improvement of the member understanding
10. Outline the principles of interpersonal, group and inter-agency communication as they
relate to the different public and business sectors.
According to the public sector, the principle of inter-agency, groups and interpersonal
communication are based on the professional code of the conduct the public service value by the
network strategies. It basically includes the serving the community, remaining apolitical,
professional and prompt manner towards the demonstration and continuous improvement of
integrity. In the business sector, the behaviour is relevant to professionalism. It includes the
inter-agency and interpersonal connections for the commercial interest and cultural with the
industry (Fan et al., 2019).
11. Strategic networks provide valuable information. Discuss how interaction and
consultation with key stakeholders and networks can assist in business planning.
In according to the strategic network provides valuable information to enable organization
effectively by predicting the risks and future trends with their competitive and changes.
The interaction between the networks and stakeholders can manage the business with their ideas
and innovation. A good strategy and planning for the organization can be beneficial for the
organization.
 This is to identify the different stakeholders by analyzing the stakeholder and expectations
review of interest and influence.
 To develop the communication strategy
 Perform changes or risk impact analysis
 Evaluate and execute the success plans
12. What factors contribute to the development of conflicts in strategic networks? Outline
effective methods of conflict resolution appropriate for use within strategic networks.
There are many factors which conflict towards the development of the conflict in the strategic
network as followed:
 By defining the conflict
 By the managerial grid
 By the leadership style
The effective methods to conflict the resolution appropriately by the strategic network as:

 To addressed the problem privately
 Decide, breathe and pause on the next steps
 Make the most appropriate medium to define the network
 Active listening technique
13. How can networks be evaluated and improved in their ability to deliver beneficial
outcomes for all network members?
A network is the set of group of the member to connect with each other. This network can help to
evaluate the strategy of business organization to work well and appropriate for the organization.
All the network members are connected with others by some methods which help to connect
with their personal and financial conditions.
Project Assessment Task 2
Full description of the strategic network and its characteristics
The strategic network is the network which can help to connect with a different network.
Network strategies consist of a personal network. Operational network and strategic network.
Personal network
It is the network as a large extent, discretionary link to another network in the workplace where
something is common. It is the potential network. The personal network consists of different
types of skills such as potential interest, oriented toward cultural interest.
Oriented network
This network required good working relationships with other people who can help do different
jobs. This includes the number and breadth of people such as operational unit, internal player,
distribution and customer connection.
Strategic network
It helps in making the successful leadership transition requires to work in the operational
networks. It mainly focused on the operational network.
Key features of the strategic network – members’/key stakeholders – needs, expectation
and roles – purpose – formal or informal
Features
 Critical reflection
 Power of a simple message

 Sense of reality
 Listening of balanced stakeholder
 Deployment energetic
There are two types of member’s stakeholder such as internal stakeholder and external
stakeholder.
Needs: it has the need to make strong relationships, build their career, enhance the opportunity
etcetera.
Exception: The expectation of the network strategies is to make the relationship longer with the
other organizations (Hasan et al., 2019).
Role:
The role is to focus on the outcomes, collaborations, communication, commitment etcetera.
Purpose: The purpose of this network to collaborate with other people.
Benefits to members – advantages – disadvantages – strategic value
Advantages
 It helps in creating a better future
 Helps in identifying the different strategic function
 Helps to make the better decision
 Business longevity
 Avoiding the competitive convergence
 Financial benefits
Disadvantages
 This is a time-consuming process
 Complex process
 Proper planning is required
 This has a very tough implementation
Communication channels used – frequency of contact
There are two types of a communication channel to communicate with the stakeholder such s
formal and informal methods:
There are three types of formal methods of communication
 Meeting
 Email/Newsletter/ Posters

 Conference calls
There are three types of informal methods of communication
 Sporting event
 Voice mail
 Lunch meeting
Strategies employed by members – value and effectiveness
This helps to analysis the value member network analysis with their contribution of the network
by value networks maps, formal report and analytics.
This analysis the different types of strategy effectiveness such as develop the measurable
strategies, measuring the variable by implementing, evaluating the continuous performance
etcetera.
The measure of strategic network strength
It can measure the strategic network strength with different strategy plans. There are some
factors which can analysis of strategic network strength.
 Outcomes measure
 Project measure
 Quality measure
 Efficiency measure
Benefits gained from the strategic network – outline examples of gains and degree of value
This has gained the benefits from the strategy network which helps to increase the relationships
of the many organizations. This helps in financial benefits, non-financial benefits and closing
thoughts. Its degree of value is to achieve the value streaming network. This has gained
relationships with the people, build a career, improving the service quality with the other
network. Also, it is beneficial to the organization to build a relationship with the other
organizations.
Conflict within the network – sub-groups – responding to diversity in the group
This has conflict in the network to measure the leadership style, managerial grid and defining the
grid. There are many sub-groups of the network strategy which can directly lead the other
strategy.

The application of legislation, regulations and policies impacting on the network
Legislation and regulation
 Low impact facilities
 Process objection
 Notifying occupiers and landowners
 Greater the impact on the other work
Applying procedures relating to OHS and environment in the context of the strategic
network
This is to analyses the occupation health and safety (OHS) which consist of legislation,
enforcement and compliance, Capacity building, effectiveness evaluating and taking action
against the emerging and existing risks.
Case Study Assessment Task 3
Outline how these requirements impact on the strategic network environments. In your
response address the following types of legislation:
Commonwealth Human Rights and Equal Opportunity Act: For the improved work culture
and to provide equal opportunity to everyone this act was introduced so that human rights can be
saved. This act helps in providing equal human rights within an organization so that all the
employees can be saved from the inhuman acts in an organization. This act was failed in
providing the freedom of the information for the better growth of personal as well as
organizational growth. The organization must provide equal human rights to its employees so
that discriminations can be eliminated. Bayside Call Centre provides all the human rights to its
employee for improving the work culture (McDonald & Charlesworth, 2019).
Commonwealth Racial Discrimination Act/s: This act eliminates the discrimination based on
the color, language, and area of leaving which is considered against human laws. To eliminate
the racial discrimination in Bayside Call Centre, the organization recruit the employee who
deserves through the unbiased selection procedure. Top level management of Bayside Call
Centre makes all the strategies and plans for the growth of the organization as well as individual
so that the employees could be provided with appropriate resources according to their skill and
talent not on their color and language (Iacono, et. al., 2019).