Title: Effective long-term relationship management strategies to enhance value co-creation among business partners

Authors: Kanyarat Sukhawatthanakun

Addresses: Business Administration Department, Faculty of Liberal Arts and Management Sciences, Kasetsart University, Chalermphrakiat Sakon Nakhon Province Campus, Sakon Nakhon, Thailand

Abstract: Business circumstances change rapidly nowadays, so business goals cannot be achieved without business partners. Thus, this study investigated the factors involved in effective long-term relationship management to enhance value co-creation among business partners through four variable factor elements: organisational management, partner characteristics, resource sharing, and market orientation. The quantitative data was collected from 500 executives in Thailand's business sector using a questionnaire; the data was analysed through descriptive, inference, and multivariate statistics, CFA, S-CFA, and SEM using the techniques for cutting off variable factors. The hypothesis test results showed that the focus of businesses in the industrial sector and service-sector businesses concerning the factors involved statistically significant differences. The empirical results theoretically contribute to developing guidelines for long-term relationship management and have managerial implications for the value co-creation among business partners.

Keywords: business partner; long-term relationship management; partner characteristics; value co-creation; organisational management; resource sharing; market orientation; business sectors; Thailand; structural equation modelling.

DOI: 10.1504/JIBED.2023.132878

Journal for International Business and Entrepreneurship Development, 2023 Vol.15 No.2, pp.263 - 294

Received: 25 Feb 2023
Accepted: 31 May 2023
Published online: 13 Aug 2023 *

Full-text access for editors Full-text access for subscribers Purchase this article Comment on this article