Business, Management and Accounting
4 years ago

Trust and respect key to successful buyer-supplier relationships, study finds.

HAL (Le Centre pour la Communication Scientifique Directe)
Relational Adaptation in Buyer-Supplier Relationship Management: A Synthesis of Effects of Exchange Hazards, Relational Norms, and Legitimacymanagement
S. Sheng, Charles Wong, L. Lessassy, Kuei‐Kuei Lai, Tsz-Wing Leung, Yang Bao

Paper Summary

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The article explores how businesses can improve their relationships with suppliers by focusing on trust, respect, and specific investments. By studying a container port terminal operator, the researchers found that when suppliers invest in specific areas, deal with uncertainty well, and build trust and respect, they adapt better to the relationship. This means that investing in specific areas and building trust and respect are key for businesses to have successful partnerships with their suppliers.