Strategic Market Relationships: From Strategy to Implementation

Strategic Market Relationships: From Strategy to Implementation

Strategic Market Relationships: From Strategy to Implementation

Strategic Market Relationships: From Strategy to Implementation

Synopsis

Strategic Market Relationships, 2nd Edition develops the reader's understanding of the nature, relevance and importance of creating and sustaining relationships as a strategic resource. It takes a managerial perspective to the study of relationships, from strategy to implementation. The first edition was the first text that comprehensively addressed relationships as a strategic issue, and considering relationships as strategic and as a basis for competition is central to this book. In a nutshell, strategic market relationships is the process of analyzing, formulating and implementing a relationship strategy for an organisation.

The new edition is being totally restructured in the light of teaching experience with the book and new research since it was published. Most of the existing content will still be there but presented in a new logic.

  • Continues to map relationships from strategy to implementation
  • Text more clearly divided into strategy and implementation parts
  • Continues to focus on close relationships and on the management of relationships
  • Continues with introductory case illustration and end of chapter teaching cases with many new ones
  • All chapter updated with new research since the last publication
  • Revamped chapter on relationship planning including a stronger focus on strategic choice and relationship development
  • New chapter on relationship types/archetypes to develop on the theme of classification and the management of specific relationships
  • New chapter on organizing relationships
  • New chapter on people and relationships
  • E-relationship chapter integrated into chapter on communication and dialogue in a relationship
  • New chapter on channel relationships
  • Chapter on relationship performance restructured around costs and value.
  • Ethics and researching relationships expanded in the conclusion chapter

Excerpt

Relationships between businesses have always been part of our economic landscape. Relationships are becoming increasingly intensive owing to the interconnected nature of the global economy. An economic shock in one part of the world can spill over into the rest of the world because of the criss-cross connectivity of firms and finance on a global basis. Strategic alliances, joint ventures and research and development cooperation are commonplace in industries as diverse as electronic communications and hospitality. The power and prevalence of relationships means that they are at the centre of decisionmaking in organisations. Deciding on the extent of cooperation has become a major strategic issue. Cooperating to compete is not only a feature of decisions concerning competitor and customer interaction but also the supply chain, and managed relationships with other stakeholders such as employees, financial markets, government and interest groups. Even if a firm does not want to use relationships as a strategy for competing, it still has to consider the complexity and connectedness of the market spaces in which it operates.

Organisations have to manage multiple and overlapping relationships. The multiplicity of networks in which any firm finds itself requires a different strategic perspective. No one firm has all the knowledge and resources it needs to compete within its own control. Companies that can combine resources across organisations and accelerate learning across organisational boundaries are likely to have a winning strategy for the future. The disaggregation of the hierarchical organisation into a network of interdependent organisations has already happened. The challenge is how to hone our skills to manage this network and the wide variety of relationships in it. Close strategic market relationships require a managerial approach that seeks collaboration rather than confrontation, joint involvement rather than unilateral action and an acknowledgment of interdependence rather than independence. We believe that these relationships are complex but can be managed. This managerial activity is the focus of the text.

This text comprehensively addresses relationships as a strategic issue. It maps relationship choices from strategy to implementation. The text is divided into two equal parts, strategy and implementation. Considering relationships as strategic and as a basis for competition is central to this book. Strategic market relationships involve analysing, formulating and implementing a relationship strategy for an organisation. Ignoring relationships as a strategic issue would be a blind spot – missing a key economic reality.

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