Business Relationships

Business Relationships

Business Relationships Jonathan Poland

Business relationships are the connections, interactions, and communications between a company and its stakeholders. These relationships can have value for the company, known as relational capital. In general, a company with positive relationships with its stakeholders is more valuable than a company with negative relationships and a poor reputation among its stakeholders. The following are the basic types of business relationship.

Employee Relations
The relationships between a firm and its employees including formal communications, controls, policies and informal elements such as organization culture. Employee relations is important to productivity, creativity and retention of talent. Relationships with employees also has repercussions for public relations as employees represent your firm and are a source of information for all stakeholders.

  • Employee Motivation
  • Employee Satisfaction
  • Employer Branding
  • Human Resources
  • Internal Branding
  • Leadership
  • Onboarding
  • Organizational Culture

Customer Relationships
Customer relationships encompass all interactions between your employees and your customers and all communications with customers. This includes any customer facing function such as sales, customer service and promotion.

  • Customer Is Always Right
  • Customer Loyalty
  • Customer Recovery
  • Customer Service
  • Personal Selling
  • Sales
  • Single Point Of Contact

Customer Experience
Customer experience is the end-to-end set of interactions between a customer and your brand. This is an expansive concept that includes the usability of your products and brand perceptions.

  • Brand Image
  • Customer Expectations
  • Design
  • Moment Of Truth
  • Perceived Value
  • Quality
  • Usability

Lead Users
Lead users are customers who you engage to improve your designs, marketing and customer experience. Firms may partner with customers who are influencers in a culture or industry. Alternatively, a firm may openly partner with all customers such that all customers have an opportunity to influence products and services.

  • Brand Culture
  • Customer Interviews
  • Market Research
  • Naive Design
  • Test Marketing
  • User Story
  • Voice Of The Customer

Developing, improving and leveraging partnerships with other businesses in areas such as promotion, distribution, supply chain, outsourcing and research & development. This includes the end-to-end process of building a productive and positive relationship with partners and managing their performance.

  • Distribution
  • Outsourcing
  • Partner Risk
  • Performance Management
  • Strategic Partners
  • Supply Chain Management
  • Value Added Resellers

Investor Relations
The process of raising capital for your business and managing relationships with investors, creditors and regulators. Effectively communicating information about the position, performance, risks and opportunities of your firm can influence your cost of capital and access to funding. As such, this is a key responsibility of executive management.

  • Compliance
  • Cost Of Capital
  • Fiduciary Duty
  • Insider Information
  • Refinancing Risk
  • Risk

Public Relations
Public relations is the top level function in an organization for managing communications and relationships with all stakeholders including investors, employees, customers, partners, governments, communities, media representatives and industry influencers. This is often focused on your most important communications such as news, crisis communications and product releases.

  • Communication
  • Corporate Identity
  • Corporate Reputation
  • Extended Producer Responsibility
  • Integrated Marketing Communications
  • Reputational Risk
  • Sustainability
Learn More
What is Force Majeure? Jonathan Poland

What is Force Majeure?

Force majeure refers to circumstances beyond the control of a party that prevent them from fulfilling their obligations under a…

Segregation of Duties Jonathan Poland

Segregation of Duties

Segregation of duties is a principle in internal control that aims to reduce the risk of fraud or errors by…

Contract Awards Calendar 150 150 Jonathan Poland

Contract Awards Calendar

Governments around the world typically follow a structured and organized process for awarding contracts to suppliers, contractors, and service providers.…

Business Strategy Examples Jonathan Poland

Business Strategy Examples

A business strategy refers to a long-term plan that outlines the future direction of a company and how it will…

Quality Requirements Jonathan Poland

Quality Requirements

Quality requirements refer to the specific standards that a product, service, process, or environment must meet in order to be…

Cross Sellilng Jonathan Poland

Cross Sellilng

Cross-selling is the practice of selling additional products or services to existing customers. In a single transaction, this might involve…

Drip Marketing Jonathan Poland

Drip Marketing

Drip marketing, also known as drip campaigns, is a strategy that involves sending targeted and personalized marketing messages to a…

Risk-Reward Ratio Jonathan Poland

Risk-Reward Ratio

The risk-reward ratio is a measure that compares the potential for losses to the potential for gains for a particular…

Business Environment Jonathan Poland

Business Environment

The business environment refers to the external factors and conditions that can affect a company’s operations and performance. It includes…

Content Database

Search over 1,000 posts on topics across
business, finance, and capital markets.

Time To Value Jonathan Poland

Time To Value

Overview Time to Value (TTV) is a business concept that refers to the period it takes for a customer to…

Environmental Challenges Jonathan Poland

Environmental Challenges

Environmental issues are detrimental changes to the Earth’s natural surroundings that negatively impact the current quality of life for individuals…

Market Fit Jonathan Poland

Market Fit

Market fit refers to the extent to which a product or service meets the needs and preferences of a target…

Joint Ventures Jonathan Poland

Joint Ventures

A joint venture is a business venture or partnership between two or more parties. It is a collaborative effort in…

Sales Quota Jonathan Poland

Sales Quota

A sales quota is a target for the revenue or units sold that a sales department, team, or individual is…

Business Risk Jonathan Poland

Business Risk

A business risk is a potential event or situation that could negatively impact an organization’s ability to achieve its objectives.…

External Risk Jonathan Poland

External Risk

An external risk is a type of risk that is outside of your control and cannot be influenced or managed…

Product Launch Jonathan Poland

Product Launch

Product launch refers to the introduction of a new or updated product to a specific market. This is an important…

Leadership Development Jonathan Poland

Leadership Development

Leadership development is the process of helping employees develop the necessary skills and competencies to take on leadership roles within…