Professional Behaviour - Networkof Support Stakeholders

Case study

Thabo has recently opened a new IT business and is unsure whether it will survive. A friend and fellow business owner advises him to join a professional network, such as BNI Professionals or SAPNA in South Africa, as professional networks are a valuable tool for learning and meeting other professionals.

Thabo contacts BNI Professionals for information on how to join and becomes a member the following week. He is glad he followed his friend's advice, as BNI Professionals also offers ongoing training for its members to help build their networking skills, with the broader aim of empowering people to grow their businesses. Thabo feels more confident in his business with the new knowledge and skills he has acquired, and is reassured knowing that, should he encounter a problem, he can turn to the network for advice and guidance.

What is a stakeholder?

To understand what a stakeholder network is, we first need to understand what a stakeholder is. A stakeholder can be defined as any person or organisation that is affected by, or can affect, a project, strategy or organisation.

Maintaining a good relationship with stakeholders is extremely important, especially with regard to support and funding. Stakeholders usually want an individual or organisation to succeed, for a range of reasons, and the key to building strong stakeholder relationships is a well-developed communication plan.

So what is a stakeholder network?

Simply put, a stakeholder network refers to a group of people (professionals) or systems (organisations) that share a common interest or work towards a common goal. An important purpose of such networks is to address local and global issues, including matters relating to security, health, education and sustainability.

Purpose of stakeholder networks

As noted above, a key purpose of stakeholder networks is to help address issues of concern, whether local or global. Networking gives professionals and businesses access to information on topics such as grant funding, training, advice, policy updates and investment initiatives. An easy and effective way to build your network is by attending networking events, workshops or seminars, many of which are free.

Benefits of building a good network

- A network allows a person to market their services more widely.

- Networks are often viewed favourably as a route to funding for businesses.

- Networks are a good way to stay up to date with current affairs.

- Having a network makes it easier to attract new employees and learn new skills.

- Networks provide information about possible job opportunities.

- A strong network increases the potential to learn and innovate, as the input of others can help generate solutions to business or social issues.

- Being part of a network allows members to build trust and understanding with one another, and creates a sense of purpose and identity.

- As networks grow over time, they can increase their collective knowledge, capability and governance structures, enabling them to tackle broader issues of concern.

How to build a stakeholder network

1. Understand the issues and map the network. First, identify and define the problem or issue and determine whether you need input from others. If so, develop a stakeholder network map - a tool used to identify people or organisations with a "stake" or interest in the issue. Mapping makes existing stakeholder relationships visible, showing what is needed around an issue and which stakeholders can assist with each aspect. This, in turn, helps you understand the depth and value of each relationship, and which parts of the network need to be strengthened over time. Once the map is complete, reach out to well-connected people who have an interest or stake in the issue, and ask for their input: Does the issue matter to them? What outcome are they hoping for? Would they be willing to help form a network to find possible solutions?

2. Build relationships and connections. At this point, you and a few others will start to form the core of the developing network. Your role is to connect with others who share an interest in the issue, share information, and encourage open dialogue. This stage is important, as it builds stronger relationships between stakeholders and establishes the level of commitment to finding solutions.

3. Establish goals and ground rules. Once stakeholders are willing to meet, the first meeting should cover: the goals and objectives of the group; principles for how members conduct themselves and deal with one another; the responsibilities and roles of members within the network; methods of communication; and the network's learning agenda - a list of questions set by the organisation or team to determine what it needs to learn before starting a project, ranging from a new skill to additional training that better equips team members.

Conclusion

Given the purpose and benefits associated with networking, it is worth individuals - and new businesses in particular - becoming part of a network. Beyond the advantages of greater exposure for products and services, individuals and companies gain the added benefit of potential access to funding, as well as exposure to new information and learning opportunities.