“Businesses are built on relationships.” What do you think this statement means? What are the implications for managing the external environment? Utilizing at least three sources in your initial post, explain what this means to you and what can impact those relationships?
please with apa and citation and examples
answer-
This statement means that if we build relationships then would help us to achieve our objectives. these relationships could be either internally or externally. we can make professional relationship in both internal like employees, top management, workers and externally like customers, suppliers, government etc.
these relationships has impact on our business's goals and objectives because if we make good relationships with external stakeholders like suppliers then we would have good quality supplies for manufacturing and with customers we would have the loyalty of them.
Organizations depend on their environment and their stakeholders as a source of inputs and a recipient of outputs. Good relationships can lead to organizational outcomes such as improved predictability of environmental changes, more successful innovations, greater degrees of trust among stakeholders, and greater flexibility in acting to reduce the impact of change. In addition, relationship management (Freeland, John G,2003)and maintaining good relationships have been proven by many researchers to have an effect on organizational performance. High- performing companies tend to consider the interests of all major stakeholder groups as they make decisions.
for example- If you provide timely payment to your suppliers then your supplier may provide supplies on credit in future.
or If you provide exceptional customer service after the purchase then customer may purchase your product again and again.
Having good relationships with your stakeholders can help the company reach their goals.
references- book- Relationship management: developing relationship parameters critical to the effective management of relationships between public relations consultants and their clients, 2005
Freeland, John G., ed. The Ultimate CRM Handbook. New
York: McGraw-Hill, 2003
*hope above answer would help you.good luck.
Bull, Christopher. "Strategic Issues in Customer Relationship
Management (CRM) Implementation." Business Process Management
Journal 9, no. 5 (2003): 592–602.
“Businesses are built on relationships.” What do you think this statement means? What are the implications...
(Management Class) “Businesses are built on relationships.” What do you think this statement means? What are the implications for managing the external environment?
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