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Managing and measuring relational equity in the network economy

Managing and measuring relational equity in the network economy The Internet is emerging as a powerful connecting force, allowing firms to serve customers, collaborate with partners and suppliers, and empower employees more effectively than ever before. In the network economy, relationships with key stakeholders are becoming valuable assets of the firm, but few firms manage relationships effectively. The authors propose that firms need to take a more holistic approach to understanding where their relational equity resides and how it should be managed and measured. They also propose that relational equity is not limited to relationships with customers but also includes relationships with partners, suppliers, and employees. Effective management of relational equity requires firms to think in an integrative manner along several dimensions: strategy, process, technology, organization design, and metrics. The authors develop conceptual frameworks for each of these dimensions. Taken together, these frameworks offer a conceptual foundation for research and managerial practice on managing relational equity. http://www.deepdyve.com/assets/images/DeepDyve-Logo-lg.png Journal of the Academy of Marketing Science Springer Journals

Managing and measuring relational equity in the network economy

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References (54)

Publisher
Springer Journals
Copyright
Copyright © Academy of Marketing Science 2002
Subject
Economics / Management Science; Business/Management Science, general; Marketing; Social Sciences, general
ISSN
0092-0703
eISSN
1552-7824
DOI
10.1177/009207002236908
Publisher site
See Article on Publisher Site

Abstract

The Internet is emerging as a powerful connecting force, allowing firms to serve customers, collaborate with partners and suppliers, and empower employees more effectively than ever before. In the network economy, relationships with key stakeholders are becoming valuable assets of the firm, but few firms manage relationships effectively. The authors propose that firms need to take a more holistic approach to understanding where their relational equity resides and how it should be managed and measured. They also propose that relational equity is not limited to relationships with customers but also includes relationships with partners, suppliers, and employees. Effective management of relational equity requires firms to think in an integrative manner along several dimensions: strategy, process, technology, organization design, and metrics. The authors develop conceptual frameworks for each of these dimensions. Taken together, these frameworks offer a conceptual foundation for research and managerial practice on managing relational equity.

Journal

Journal of the Academy of Marketing Science – Springer Journals

Published: Sep 1, 2002

Keywords: Customer Relationship Management; Intangible Asset; Balance Scorecard; Network Economy; Relational Equity

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