Needless to say, other building blocks like trust and commitment are obviously enhancing customer relationships. Another worth mentioning is that, due to the complexity of B2B interaction with a large amount of individual connections and multiple communication channels, it is important to figure out how knowledge is shared and the outcome of interactions (Ballantyne 2004, 119). Another factor supporting in building customer relationship is customer interaction, as Ramani and Kumar (2008, 27) reflected relationship as a result of people interaction. The two scholars defined customer interaction as ‘a firm’s ability to interact with its individual
It’s also allow the firms to measure how important it. Complementary products are its own products. This knowledge allows the firms to develop strategies to reduce its exposure to risks associated with price changes by other firms such as rise in the price of complementary or a fall in price of substitution. So, the firm always try to reduce risk including adopting Alliance and collusion strategies. Joint alliance with competitors can also take place, such as Cigarette Company combining with other company to create nicotine gum and patches.
Employee commitment has become a prominent topic of interest for workplace and organizational researchers and psychologists in recent years. Irefin & Mechanic (2014) conducted a research piece on the “Effect of Employee Commitment on Organizational Performance in Coca Cola Nigeria Limited Maiduguri, Borno State. This paper aimed to examine the level of employee commitment to a particular company, in this case Coca Cola, and investigate would these levels influence organizational performance and employee turnover while also analysing dimensions of employee commitment. The Cambridge English dictionary defined commitment in the terms of a “willingness to give time and energy to something that you believe in, or a promise or firm decision to do
Perhaps most important is the effect of rivalry on innovation and competitiveness. It has an especially powerful stimulation effect on geographically proximate firms as competition between these organizations becomes more personal; instead of competing for market share, proximate firms also compete for the same customers, the same workforce and the same scarce resources. However, this stiff competition also forces rivals to move beyond these sources of competitive advantage and to focus on those that are more sustainable and create an inimitable and specialized set of advantages within a region. (Porter M. E., 1990, p. 232) One can see that these characteristics reflect those of clusters. As such, all firms within the cluster will aim to be market leaders through constant innovations and more productive uses of factor resources, as this is the only way to win the desired customers, workers and resources.
The points in time at which companies trust each other cannot be quantified or measured in a formulaic manner that everyone can follow as a guideline, which is quite important for the furthering of the comprehension of dyadic trust. We found this topic quite important and relevant to the business world, but also to our personal lives. In the business world, it is incredibly valuable to be trusting and trustworthy; trust is what can keep a company going. It is also important to be able to trust and be trustworthy as an individual so that it can be used in one’s personal life and work life. In the future, more research should be done in regards to mutual and asymmetric trust, as those are the types of trust that have the least supported results and the ones that businesses have the most to learn from.
In this critical review, I will be commenting on three main ways by which management can secure employee commitment. The first way is to improve communication. As stated earlier, communication is one of the key factors that affect employee commitment within an organisation. If managers begin to pay more attention to employees, supervise them, take keen interest in the welfare of the employees and encourage them to air their ideas and give them feedback, there will be a sense of belongingness and willingness from employees to give out their best performance and there is a very high possibility this will lead to management securing commitment from the employees within the organisation. To further buttress the point using Elton mayo’s (1880-1949) human relation theories, he concluded in the Hawthorne effect that “when management communicates effectively with employees and take interest in their work, commitment is improved.” (Stimpson.P, 2010).
The study show on how organizational commitment may influence on retention, attendance and job productivity. According to McNeese-Smith (1995) if employees are morally committed to an organization, the increasing of like hood of retention, consistent attendance, and increased productivity can be expected. In addition, the studies also identify on organizational commitment that could interact with job satisfaction to affect turnover intention among employees. Organizational commitment is an attachment with organization (Mathieu, 1990). In simpler words, job satisfaction is linked to the job; organizational commitment emphasizes links to the organization (Lim, 2007).
Affective commitment is the employees’ feelings toward joining the organization, continuous commitment is employees’ perceptions of costs if leaving the organization and normative commitment is employees' perceptions of their duties and promises toward the organization. According to Bratton and Gold (2010) employee commitment is relative to the workers’ attachment to or participation in the organizations in which they employed. Employee commitment is significant since it determines whether employees are likely to leave their jobs or im- prove performance. Numerous studies have related to employee commitment. According to Meyer and Allen (1991), organizational commitment construct includes elements of desires, needs, and obligations are represented in the three components of organizational commitment.
Competition can also create undue stress that may actually prove to be counterproductive to some worker's efforts (Lewis, 2014). However, while there may be drawbacks to competition, there are benefits as well. Competition is the critical driver of performance and innovation. One of the main advantages of competition in the workplace is that it can create an environment where employees push each other to exceed their normal limits, which can result in increased production, both at an individual level and among the entire workforce as a whole. It can also pave the way for self-improvement.
Todeva and Knok (2005) noted that when one party involved in cooperation have short term orientations and the other have long term orientations, the cooperation’s may never materialized. The purpose of cooperation’s are usually defeated when both parties have a different styles and values. Fall in Trust: This is the expectation that an actor’s involve in cooperation can be relied on to fulfil obligations. However, low trust may result in withholding information, desiring to win conflicts, relying on past history for decision‐making, maintaining the status quo and resisting change and valuing independence, all which are also barriers to SMEs effective collaborations and