Question

1. How might an organisation benefit from network relationships in terms of information that can be gathered and trends that can be identified? 100-120 words CHCPRP001

Answer 1

Networking is the process of intentionally meeting people, making contacts, and forming relationships in hopes of gaining access to such business-related benefits as career advice, job leads, business referrals, useful information and ideas, and emotional support. For example, a small business owner's network might include clients, vendors, fellow members of trade or professional associations, bankers, accountants, professors at a local business school, friends who are employed in similar industries, and other small business owners. Each person that a small business owner adds to his or her network is at the center of their own network, so in actuality the network is expanded considerably with every new member. Ideally, networks serve both social and business functions and are mutually beneficial for their members. The relationships formed in networking help people create a larger world for themselves, with a variety of new relationships, opportunities, and resources.

main benefits that accrue to those who practice effective networking: referrals, relationships, and leads. Referrals, which are particularly important in growing a small business, take many forms. For example, a satisfied client might suggest others who may need the company's products or services. Similarly, a network member who is familiar with the company's offerings might provide an endorsement or allow the small business owner to mention his or her name in marketing efforts. It is good networking practice and a matter of professional courtesy to thank the person who provided the referral and to keep them informed of the results of the new contact. In addition, it is important never to use someone as a referral without first securing their permission. If a referral does result in a new client relationship, care should be taken to provide the new client with the same level of product or service quality that was enjoyed by the one that gave the referral. Otherwise, the small business risks ruining both client relationships

Networking is the process of intentionally meeting people, making contacts, and forming relationships in hopes of gaining access to such business-related benefits as career advice, job leads, business referrals, useful information and ideas, and emotional support. For example, a small business owner's network might include clients, vendors, fellow members of trade or professional associations, bankers, accountants, professors at a local business school, friends who are employed in similar industries, and other small business owners. Each person that a small business owner adds to his or her network is at the center of their own network, so in actuality the network is expanded considerably with every new member. Ideally, networks serve both social and business functions and are mutually beneficial for their members. The relationships formed in networking help people create a larger world for themselves, with a variety of new relationships, opportunities, and resources.

In an article for the Training and Development Journal, Frank K. Sonnenberg identified three main benefits that accrue to those who practice effective networking: referrals, relationships, and leads. Referrals, which are particularly important in growing a small business, take many forms. For example, a satisfied client might suggest others who may need the company's products or services. Similarly, a network member who is familiar with the company's offerings might provide an endorsement or allow the small business owner to mention his or her name in marketing efforts. It is good networking practice and a matter of professional courtesy to thank the person who provided the referral and to keep them informed of the results of the new contact. In addition, it is important never to use someone as a referral without first securing their permission. If a referral does result in a new client relationship, care should be taken to provide the new client with the same level of product or service quality that was enjoyed by the one that gave the referral. Otherwise, the small business risks ruining both client relationships.

Another benefit of networking is establishing relationships, which can have a number of positive outcomes for small businesses. Forming a close relationship with a client, for example, might provide invaluable insight into their needs. In addition to giving the small business a good opportunity to promote or develop products and services to meet those needs, this insight might also help the small business owner to fix small problems before they escalate into large ones. The insights gained from one client can often be applied to other clients in order to improve those relationships. Close client relationships can also provide information about competitors, their relative strengths and weaknesses, and what it takes to stay ahead of them.

Finally, networking can be an excellent source of leads, whether on new business opportunities, new career options, or further networking possibilities. For example, the head of a construction company that is erecting an office building might share a network with an interior designer. When the building is close to completion, the head of the construction company might provide the interior designer with leads on the occupants of the building and their furnishing needs. In turn, the interior designer might alert a network contact who sells office supplies when the new occupants are preparing to move into the building.

Active networking is vital to career growth. Often confused with selling, networking is actually about building long-term relationships and a good reputation over time. It involves meeting and getting to know people who you can assist, and who can potentially help you in return.

Your network includes everyone from friends and family to work colleagues, business connections, your social network and members of groups to which you belong.

network can be an excellent source of new perspectives and ideas to help you in your role. Exchanging information on challenges, experiences and goals is a key benefit of networking because it allows you to gain new insights that you may not have otherwise thought of. Similarly, offering helpful ideas to a contact is an excellent way to build your reputation as an innovative thinker.

Networking assist healthcare professionals with completing their daily tasks such as teaching patients, monitoring their health, tracking their blood pressure and much more. ... However, privacy, security and reliability of exchanged information is extremely importantin improving the quality of patient care.