The Interaction of Enterprises: Relational Approach
Interactions among economic entities are an integral part of any type of business. Business partnerships arise in the networking and result from a special type of relationship. Such a relationship involves professional qualities and mutual responsibility and forms in the presence of trust, which can be considered one of the most important network standards. Aim. The objective of the article is to demonstrate the necessity of using a relational approach in a business management, because this can serve as a factor of competitive advantage that will provide a significant increase in profits. Results. This article discusses the economic content of the category “trust” and identifies the methods of its formation in the interactions between business structures. The author introduces the concept of “quality of interaction between economic entities”, which is based on the trust between partners and serves as the foundation of an interaction’s efficiency. Such interactions generate stable and long-term partnerships and are a source of relational rents and competitive advantages for business structures.