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To examine how relations with social groups, including shareholders, customers, employees and vendors among other stakeholders are pivotal to generating wealth and optimising long‐term shareholder value.

The paper explores the values intrinsic in stakeholder relations and examines why it should be included in the core of evaluation, auditing and management of organisations to create wealth, value and corporate profit.

The concept of organisations with values that extend from physical assets, intellectual property, process, know‐how, knowledge brand and reputation attributes is understood as being part of the value of companies. Stakeholder relationships are intangible assets and there is a significant body of opinion that identifies intangible assets as a major driver in the global economy, corporate survival and success. There is a pivotal management role in relationship management which is the lever by which value from intangibles is optimised.

Describes how, for companies in the twenty‐first century, the creation of value increasingly depends on intangible assets such as knowledge, systems, data, intellectual property, brands and market relationships. This opens up a new area of public relations practice whereby public relations managers take responsibility for the creation of value through relationships throughout organisations.

Managers and academics alike focus on value creation in business relationships. This paper adds to existing literature by analyzing functions of business relationships and their impact on value perception. Applying a customer perspective, direct relationship functions are concerned about payment, quality, and volume. Indirect functions include innovation, access, and scouting. Furthermore, trust and number of alternative suppliers are included in the study. The empirical results illustrate the important role of direct and indirect functions for value creation. Understanding these functions is instrumental for driving customer value, both for the supplier and the seller. Direct functions do have a much stronger impact on value than indirect functions that still do have a significant impact. Thus, increasing direct function fulfillment is much more effective in order to gain key supplier status than relying only on indirect functions. But indirect functions may offer ample differentiation opportunities. Being a strong driver of relationship value, trust is also driven by function fulfillment. Thus, relationship value depends on rational elements (functions) and social elements (trust). Availability of alternative suppliers increases the importance of relationship function fulfillment on customer value and customer trust. In highly competitive markets, suppliers need clear understanding and communication of relationship value in order to succeed.

Companies in all industries are searching for new sources of competitive advantage since the competition in their marketplace is becoming increasingly intensive. The resource-based view of the firm explains the sources of sustainable competitive advantages. From a resource-based view perspective, relational based assets (i.e., the assets resulting from firm contacts in the marketplace) enable competitive advantage. The relational based assets examined in this work are brand image and corporate reputation, as components of brand equity, and customer value. This paper explores how they create value. Despite the relatively large amount of literature describing the benefits of firms in having strong brand equity and delivering customer value, no research validated the linkage of brand equity components, brand image, and corporate reputation, simultaneously in the customer value–customer loyalty chain. This work presents a model of testing these relationships in consumer goods, in a business-to-business context. The results demonstrate the differential roles of brand image and corporate reputation on perceived quality, customer value, and customer loyalty. Brand image influences the perception of quality of the products and the additional services, whereas corporate reputation actions beyond brand image, estimating the customer value and customer loyalty. The effects of corporate reputation are also validated on different samples. The results demonstrate the importance of managing brand equity facets, brand image, and corporate reputation since their differential impacts on perceived quality, customer value, and customer loyalty. The results also demonstrate that companies should not limit to invest only in brand image. Maintaining and enhancing corporate reputation can have a stronger impact on customer value and customer loyalty, and can create differential competitive advantage.

The emerging focus on relationships as strategic assets has encouraged scholars to reexamine their potential for creating value for the firm and its shareholders. This article resolves some of the ambiguity regarding the way firms can understand and measure the value of a business relationship as an asset. Using a value‐based construct to assist in conceptualizing the worth of a business relationship, the article reviews several approaches available to marketers for comprehending value in a business‐marketing context and delineates when and why specific value approaches and metrics can be most appropriately applied. Implications for research and practice are discussed, with the goal of providing initial guidance to managers on measuring and managing strategic relationships as assets.

The purpose of this paper is to specify and test factors surrounding relationship strength between buyers and suppliers in a global, business‐to‐business (B2B) services context. In so doing, the paper helps extend relationship marketing theories to this under‐researched domain.

A literature review, along with results of field interviews and surveys, provide a conceptual framework for the relationship strength formation process in the context of multi‐cultures. The research then tests a model of hypothesized relationships using structural equation modeling.

The paper confirms the influence of perceived value, switching costs and relationship quality (satisfaction, trust and affective commitment) on relationship strength. As predicted, relationship quality mediates the influence that perceived value has on relationship strength. Switching costs further mediate the influence that relationship quality has on relationship strength which, in turn, influences substitution scarcity. No support, however, was offered for the proposed moderating influence that national culture (as measured by a buyer's country masculinity and individualism) has on quality/strength linkages and value/strength linkages.

The sample of buyers in 42 countries includes a higher share of buyers from individualist than collective countries. Consequently, a more balanced cultural sample may have supported the otherwise rejected proposition that culture has a moderating impact on relationship building.

The study provides managerially relevant (“actionable”) results which may help buyers execute customer retention strategies that lead to higher customer profitability.

This study adds to the limited literature on building B2B service relationships in a global context. The paper seeks to provide a balanced account of the social and economic aspects of relationship strength formation.

The purpose of this paper is to investigate the characteristics of actors that allow them to relate to others actors in the system through shared intentionality (orientation) and the nature of the A4A relationship and the results that such interactions bring to the emergent system based on this shared purpose (finality).

The topic is approached by theoretical analysis and conceptual development of three integrative frameworks: the sociological perspective, service-dominant logic and a particular perspective of system thinking: the viable system approach (vSa).

The A4A relationships involve value co-creation based on actors integrating their resources and acting with intentionality to obtain value by providing benefits to other parties and by belonging to the emergent viable system; actor acts for other actors directly involved in the relationship generating positive effects for the whole system in which it is contextualized.

Future empirical research might better support findings.

Many social implications deriving from an augmented role of actors engaged within social relationships in co-creation exchanges. From the title of the paper A4A over on the manuscript describes numerous social inferences of actors in co-creation.

A4A is a relationship formed by actors that interact for the benefit of the whole system in which are involved. They find own benefit from the benefit created for the system in which they live and act. In A4A relationships the value of the single actor comes from the participation to the viability of the whole system.

Interfirm relationships create value, but buyers and suppliers can appropriate this value in different amounts. Using the relational-view of strategy, the purpose of this paper is to explain value creation and determine the portion of that value appropriated by each organization.

The data source was a survey with 166 respondents covering two industries. The authors used confirmatory factor analysis to validate construct measurement and structural equation modeling to test the hypotheses. A parallel qualitative investigation composed of 31 interviews assisted in interpreting the findings.

Based on the relational view of strategy, the authors found support for only two of the four hypotheses that sought to explain value creation. This result calls into question the applicability of this theory to contexts other than the automotive industry, in which it was developed. Only a joint construct combining Relational Governance and Resource Complementarity had a significant effect on relational value creation. With respect to value appropriation, although both buyers and suppliers captured part of the relational value created, the buyers tended to receive the great majority of this value.

The focussed context of this study (Brazilian companies in the personal care/cosmetics and food/beverage industries) limits its generalizability but provides deeper insight into the interpretation of its results.

Both buyers and suppliers can benefit from collaborative relationships, but buyers appear to capture a larger share, forcing suppliers to continuously seek new sources of value.

This paper bridges the gap between the buyer-supplier literature and the definition of competitive advantage as value creation found in the strategic management literature. This study proposes and tests an integrative definition of the relational value that is created and appropriated in a dyad.

Buyer-supplier, Relational-view of strategy, Value creation and appropriation

Research paper

Objetivo

Las relaciones entre empresas generan valor, pero los compradores y proveedores puede apropiarse de este valor en cantidades diferentes. Usando una perspectiva relacional (relational-view) de la estrategia, este articulo explica la creación de valor y determina la proporción de ese valor asignado por cada organización.

Nuestra fuente de datos fue una encuesta con 166 respuestas abarcando dos industrias. Usamos el Análisis Factorial Confirmatorio para validar los factores construidos y modelos de ecuaciones estructurales para evaluar las hipótesis. Una investigación cualitativa paralela compuesta por 31 entrevistas ayudó a interpretar los hallazgos.

Basados en la perspectiva relacional de la estrategia, encontramos respaldo sólo para dos de las cuatros hipótesis que buscaban explicar la creación del valor. Este resultado invita a preguntar la aplicabilidad de esta teoría a contextos más allá de la industria automotriz, en donde se desarrolló. Solo un factor conjunto que combina la Gobernanza Relacional y Complementariedad de Recursos tuvo un efecto significativo en la Creación De Valor Relacional. En cuanto a la apropiación de valor, aunque ambos compradores y proveedores capturan parte del valor relacional creado, los vendedores tendieron a recibir la gran mayoría de este valor.

El contexto en el cual se focalizó este estudio (Empresas Brasileñas de cosméticos y cuidado personal e industrias de comidas/bebidas) limita su generalización pero provee un conocimiento más profundos a la interpretación de sus resultados.

Ambos, compradores y proveedores pueden beneficiarse de una relacion de colaboración, pero los compradores parecen capturar una mayor proporción, forzando a los proveedores a continuamente buscar nuevas fuentes de valor.

Este articulo acerca la brecha entre la literatura del comprador y proveedor y la definición de la ventaja competitiva como creación de valor hallada en la literatura de estrategia de administración. Este estudio propone y prueba una definición integradora del valor relacional que es creado y apropiado en la díada.

Trabajo de investigación

Objetivo

As relações entre empresas criam valor, mas os compradores e fornecedores podem apropriar-se deste valor em quantidades diferentes. Usando a Visão Relacional da Estratégia, este artigo explica a criação de valor e determina a proporção deste valor apropriado por cada organização.

A base de dados foi uma survey respondida por 166 empresas de dois setores industriais. Foi utilizada uma Análise Fatorial Confirmatória para avaliação dos constructos e Modelagem de Equações Estruturais para teste de hipóteses. Uma pesquisa qualitativa paralela composta de 31 entrevistas ajudou a interpretar os resultados.

Baseado na Visão Relacional da Estratégia, foram confirmadas apenas duas das quatro hipóteses que buscavam explicar a criação de valor. Este resultado questiona assim a aplicabilidade desta teoria a outros setores que não a indústria automobilística, no qual esta abordagem originalmente foi desenvolvida. Somente um construto resultante da combinação dos construtos de Governança Relacional e de Complementaridade de Recursos teve um efeito significativo na criação de Valor Relacional. Quanto à apropriação de valor, embora compradores e fornecedores capturam parte do valor relacional criado, os compradores tendem a ficar com maior parte deste valor.

O foco desta pesquisa (empresas brasileiras dos setores de alimentos, bebidas e higiene pessoal) limita a sua generalização, embora forneça um conhecimento mais profundo à interpretação dos resultados.

Tanto compradores e fornecedores podem se beneficiar de uma relação de colaboração, mas os compradores parecem capturar uma maior proporção forçando os fornecedores a continuamente buscar novas fontes de valor.

Este artigo preenche uma lacuna na literatura de comprador-fornecedor e a definição da vantagem competitiva como resultado do valor. Esta pesquisa se propõe a testar uma definição integrada do valor relacional criado e apropriado dentro de uma díade.

Trabalhos de pesquisa

The purpose of this study is to examine the relation between relationship value and relationship quality in the business relationship between customers and facility management (FM) suppliers. To investigate the relationship value in outsourced FM services, the customer’s perspective is used to identify the dimensions and drivers of relationship value.

A three-stage research design was used. The first stage was a thorough literature review, followed by expert interviews with six senior managers from the customer side, together with workshop and discussion with FM academics. In the third stage, quantitative data were gathered in a survey of 60 senior managers whose companies outsourced FM services.

Findings show that relationship value is an antecedent to relationship quality of the business relationship in the context of FM. In all, 9 dimensions and 34 drivers of relationship value were identified, and a framework of relationship value for FM was established and measured. The sacrifice dimension correlates positively with relationship value, which contrasts with previous studies of relationship value in the context of business markets.

A framework of relationship value has been established for further in-depth investigation. There are limitations related to the sampling procedure: qualitative research selected large-sized organizations; the relationship value was only studied within the customer–FM supplier dyad; and a static view of customers’ perceived value from the relationship with their FM suppliers.

The study provides a set of value dimensions and drivers for customers to assess how a FM supplier adds value in a relationship, and for FM suppliers to improve their services.

This research narrowed the gap in relationship-value studies in FM. The findings can contribute to traditional theory that customer value can be the add-on between benefits (“what you get”) and sacrifices (“what you give”), rather than just a trade-off between these two dimensions.

The purpose of this paper is to explore value formation in the customer-bank relationship outside the line of visibility of service encounters. The customer's own context has been overlooked by the bank marketing literature as it is traditionally focused on value created by the service process and outcome.

Positioned within the customer dominant logic, a netnography was conducted to explore how bank relationships are realised in customers’ own contexts and experiences. A total of 579 postings from discussions of retail banking in 18 online communities were collected and analysed.

The study uncovered four factors of invisible bank service value experienced by customers: shared moral value, responsibility value, relationship value, and heritage value.

The study conceptualises bank service value as realised in the customers’ own contexts and thus highlights previously hidden sources of value in banking. The findings can be used for further conceptualisations of the customer dominant value formation of bank services.

The netnographic method illustrates how naturalistic data about customers’ retail bank experiences can be retrieved unobtrusively. The findings help bank management to understand what comprises customer value beyond the service encounter.

The paper contributes to the research in service marketing and bank marketing in three ways: first, a methodological contribution is the introduction of a netnographic approach to bank service value research. Second, a theoretical contribution is the uncovering of invisible value formation in the customer-bank relationship. Third, the paper uses the customer dominant logic in a banking context, thus providing insights into how banks are involved in the customer's own life.

This study aims to systematically review the literature on the use of customer value for the evaluation of inter-organizational performance, with a wide perspective embracing different contexts and settings.

Searching within the Scopus and ISI Web of Science databases, a systematic literature review has been conducted analyzing 41 papers published between 1991 and 2020.

Categorization of customer value and inter-organizational performance measures were developed and the main differences among different settings were discussed.

The results presented in this study may be helpful for practitioners and managers who, in the completion of their activities, have to maintain strong and frequent relationships with other organizations. In fact, practitioners and managers interested in enhancing customer value and measuring inter-organizational performance may find an innovative perspective linking the two dimensions. They could find the categorizations presented in this study as a starting point for developing a performance evaluation framework suitable for evaluating their present business relationships. In fact, the categorizations provide a panorama of how scholars have measured until now inter-organizational performance through customer value, and therefore, they could choose the measures more appropriate for their situation.

No systematic literature review of the use of customer value for assessing inter-organizational performance has previously been undertaken, especially considering different settings.