Networking

Question 1

Networking

Answer 1

Process of developing mutually beneficial contacts through the exchange of information

Question 2

Network types of contacts

Answer 2

• Internal contacts
• External contacts

Question 3

Internal contacts include

Answer 3

• People that you interact with in the course of your work
• May also be internal stakeholders in the organization who share interest and can provide support

Question 4

External contacts

Answer 4

• People outside the organization that you work regularly
  
  • ExL suppliers, community contacts
• Colleagues in other companies
• Connections through professional associations

Question 5

When to start building a professional network

Answer 5

• As soon as you enter into a profession or join a new organization
• Goal is to have them when you need them, not after

Question 6

Balanced networks provide different types of value

Answer 6

• HR
  
  • Build and maintain your awareness of what is happening in the field.
• Career mentors or provide coaching on specific skills.
• Effective collaborators
  
  • Helping you come up with new ideas and working through possible problems.
  • They may think like you, but they may also complement your own cognitive style and life experiences.
• “Connectors” people who know everyone
  
  • Can increase the size and scope of your own network through introductions and referrals.
  • A vendor, for example, can be a connector, helping you to find qualified providers of other services and products.

Question 7

Effective networking requires

Answer 7

• Finding people who have something you would like to share
• Having something yourself that people would like to share
• Allocating time to make and maintain connections, even when you do not need support

Question 8

Steps to create a professional network

Answer 8

1. Be deliberate
2. Introduce yoursel
3. Make yourself more visible
4. Develop your own value
5. Do favors

Question 9

Be deliberate step in creating a professional network

Answer 9

• Determine who you want in your network
• They should merit the effort and time
• Consider areas of weakness you want to develop
• Identify business areas or groups that you want to know more or establish contacts

Question 10

Introduce yourself step in creating a professional network

Answer 10

In all social situations:

• Introduce yourself
• Ask about the other person’s work and life, listen, and remember.

Question 11

Make yourself more visible step in creating a professional network

Answer 11

• Attend conferences and workshops.
• Present at chapter meetings.
• Participate actively in meeting discussions.

Question 12

Develop your own value step in creating a professional network

Answer 12

• Work on becoming an expert in some area or on some topic.
• Don’t be modest about what you know or can do.

Question 13

Do favors step in creating a professional network

Answer 13

• Networking is bidirectional
  
  • Value flows to both ends of the connection.
• Look for opportunities when you can mentor and coach others.

Question 14

Shareholder concept

Answer 14

• Objective of a business is to create as much wealth as possible
• Wealth is returned to the shareholders in the business
• Managers’ objectives both short and long term should be maximized for a profit
• Recognizes the different types of value an organization creates.
• Each stakeholder defines the value it seeks from its perspective and pay prioritize some values over others

Question 15

HR stakeholders include

Answer 15

• External customers
• Internal customers
• Suppliers
• Communities, political groups, religious institutions, and governments

Question 16

External customers

Answer 16

• Those receiving or purchasing the organization’s products or services
• Those who seek a return on their investment in the organization

Question 17

Internal customers

Answer 17

• Senior management
• Board of directors
• Functional leaders
• Employees

Question 18

How HR can serve senior management needs

Answer 18

• Workforce capabilities and costs
• Identifying and mitigating HR risks
• Aligning workforce size and skill to achieve organizational effectiveness and efficiency

Question 19

How HR can support board of directors needs

Answer 19

• Attract senior management talent
• Support succession plans
• Develop competitive and compliant compensation plans
• Support ethical environment and governance system

Question 20

How HR can support functional leaders

Answer 20

Staffing, development and employee relations

Question 21

HR can support the communities by

Answer 21

• Sources of employment and neighborhood enrichment and stability
• Political groups seek support from the business community in making changes in laws and regulatons
• Religious institutions seek support for their community goals and benefit from improved employment opportunities and corporate volunteer programs
• Government value “good corporate citizens” that build communities, strengthen economies and support the rule of law

Question 22

How do stakeholder perspectives in global organizations change the stakeholder relationships in

Answer 22

• Customers’ expectations of services
• Differences in long-term relationships
• View of benefits (including work life balance)

Question 23

Effective relationships:

Answer 23

• Improve the quality of communication.
  
  • Get the information needed and opportunity to develop a broader perspective on an issue.
• Increase productivity
  
  • Supporting collaboration and enabling efficient resolution of disagreements.
• Create a positive work environment
  
  • Fulfilling human needs for socialization and attachment.

Question 24

What characterizes good working relationships

Answer 24

• Trust and openness
• They do not use their relationship to manipulate
• Are mutual - each side gains something

Question 25

How to develop effective working relationships

Answer 25

• Strive for diversity in the range of your relationship
• Invest time and energy in sustaining relationships
  
  • Even when you do not have a specific need to fulfill
• Develop an ease with “small talk” about non-work matters
• Talk about yourself without dominating the conversation
• Learn to ask about others without prying
• Be considerate of other’s time and obligations