Relational Capital of Enterprises: Identification of the Phenomenon

Anna Walecka ()
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Anna Walecka: Lodz University of Technology

A chapter in Eurasian Business Perspectives, 2018, pp 157-168 from Springer

Abstract: Abstract Today’s world is based on relationships. Every organization—being an open system—transfers tangible and intangible assets to its business environment. In order to stay in the market, it has to establish various business networks—with customers, suppliers or competitors since they are not interested in a one-off, accidental transaction, but in long-term cooperation based on trust. Maintaining good relationships with customers and contractors is a prerequisite for management rationality. Identifying the needs of contractors and customers is necessary for them to be addressed properly, and for the sound relationships to be established and maintained. Maintaining good mutual relationships between employees and customers allows, in turn, to better identify the needs and tastes of the latter to maximize their fulfilment. Good relationships foster understanding and cooperation between entities, they are a source of creativity, innovativeness and entrepreneurship, as well as of a broadly defined activity. This entails increased loyalty towards the company on the part of its contractors, as well as enhanced customer satisfaction. Due to that, the company has an opportunity to build a competitive advantage. This is a survey study. It discusses the literature on the relational capital of an enterprise.

Keywords: Relational capital enterprises; Intellectual capital (search for similar items in EconPapers)
Date: 2018
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Persistent link: https://EconPapers.repec.org/RePEc:spr:eurchp:978-3-319-67913-6_11

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DOI: 10.1007/978-3-319-67913-6_11

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