Vaccine diplomacy will earn China friends and money

2021 ◽  
Keyword(s):  
Business Relationships ◽  
Pharmaceutical Sector ◽  
The West ◽  
Content Type ◽  
Quality Scale ◽  
New Business

Significance Beijing has promised to donate millions of doses to other countries and committed to selling hundreds of millions. Impacts China’s attempts to develop its pharmaceutical sector will benefit from overseas publicity, experience and new business relationships. Vaccine deals and donations will not necessarily involve direct political quid pro quos; Beijing stands to gain in other ways too. China’s ability to offer vaccines confers a huge advantage in its campaign to make Taiwan’s few remaining diplomatic partners abandon it. India’s halting of vaccine exports will increase demand for supplies from China. In the medium and long term, the West could still outclass China in the quality, scale and generosity of its donations.

Building a new resilience

2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Peter Buell Hirsch
Keyword(s):  
Cyber Security ◽  
Design Methodology ◽  
Business Leaders ◽  
Human Potential ◽  
Global Business ◽  
Content Type ◽  
Business System ◽  
New Business ◽  
Practical Implications

Purpose The purpose of the viewpoint is to examine the various ways in which the pandemic has exposed structural vulnerabilities in global business infrastructures that have long existed and been long ignored. It urges business leaders not to return to a “new normal” but make fundamental changes to ensure that their businesses are truly resilient and can withstand future threats more effectively. Design/methodology/approach The viewpoint looks at the various kinds of vulnerability to which businesses are exposed – such as supply chain, human capital, cyber security and climate change – and proposes ways to ensure that businesses, as well as shareholders and government entities work together to build true resilience. Findings At its core, the viewpoint exposes the various ways in which businesses have turned a blind eye to vulnerabilities that have always lurked just below the surface and suggests. The argument is that to secure the long-term future of our global business system, we can no longer remain oblivious to fundamental weaknesses in our infrastructures. Research limitations/implications The viewpoint looks selectively at the available data and is, therefore, by definition, subjective and non-comprehensive. Practical implications If businesses and shareholders truly take the recommendations of this viewpoint to heart, we can build a more resilient future through long-term investments in risk management infrastructures of all kinds that will secure a more prosperous and stable future. Social implications Developing a more resilient and stable global business infrastructure will help reduce the business volatility deriving from last minute responses to predictable threats. This will, in turn, help provide more stable, fulfilling employment, especially in developing countries that will act as a fly wheel for the secure development of human potential around the world. Originality/value While there has been much speculation of what the “new business normal” will look like once the pandemic has been conquered, this is, the author believes, the first piece to look concretely on how we can not only “build back better” but build back more soundly for the long term.

scholarly journals Maintaining business relationships: resilience through institutional work

2019 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Ilkka Tapani Ojansivu ◽  
Jan Hermes
Keyword(s):  
Relationship Maintenance ◽  
Historical Case Study ◽  
Business Relationships ◽  
Business Relationship ◽  
Historical Case ◽  
Content Type ◽  
Codes Of Practice ◽  
The Relationship ◽  
Over Time

Purpose Business relationships are considered long-term and stable. Furthermore, over time, business relationships are expected to become and remain “institutionalized”. The undertone is that this process is deterministic and inevitable. While the authors do not question the long-term nature of business relationships, they argue that the process of “institutionalization” requires more construct clarity. Consequently, they ask the following: What is the source of resilience in business relationships, and how are these relationships maintained over time? Design/methodology/approach To unravel these questions, the authors conducted an historical case study of a business relationship between a government buyer and a software seller extending over two decades. Findings The authors found that while the network around the business relationship is crumbling and all odds are in favor of relationship dissolution, the active maintenance work of key individuals in the relationship prevented detrimental effects and resulted in not only its continuation but also an increased degree of institutionalization. Research limitations/implications The authors contribute to the Industrial Network approach (INA) by providing a non-deterministic approach to the typically taken-for-granted end phase of business relationships. Practical implications The findings illustrate that the process of institutionalization is manageable but requires hard work, highlighting managers as the principle vehicle of relationship maintenance. Originality/value The authors provide construct clarity around the process of “institutionalization”. In fact, they regard the process as reverse compared to the early interpretation in the INA literature in which a business relationship is assumed to start as a “clean slate” and then begins to represent the industry codes of practice over time. They found that “institutionalization” implies that a business relationship is no longer compared with nor is comparable to the institutional prescriptions; in contrast, the relationship has established its own rules and norms, which have been taken for granted by the buyer and seller organization.

Belarus will contest gas price as Russia's charms fade

2016 ◽  
Keyword(s):  
Human Rights ◽  
Energy Security ◽  
Lower Price ◽  
The West ◽  
Content Type ◽  
Term Energy ◽  
The Government ◽  
Gas Price

Subject Arguments about gas prices as a reflection of deteriorating relations. Significance Attempts by the Belarusian government to secure a lower price for gas imported from Russia have political undertones. The government is cautiously distancing itself from Moscow while signalling an openness to improved ties with the West. A long-term energy security programme adopted in December 2015 sets out steps towards diversifying fuel imports and would, if successful, undermine Russia's role as monopoly supplier. Impacts Reduced economic reliance on Russia is likely to be accompanied by greater political frictions. A worsening relationship could prompt Moscow to consider covertly undermining the Belarusian leadership. The government is unlikely to institute democratic and human rights reforms. This reluctance to change will be a constraint on closer EU ties.

Product importance and complexity as determinants of adaptation processes in business relationships

2014 ◽  
Vol 29 (1) ◽  
pp. 75-87 ◽  
Author(s):  
Cristina Sales Baptista
Keyword(s):  
Adaptive Behavior ◽  
Real Life ◽  
Mining Industry ◽  
Business Relationships ◽  
Related Factors ◽  
Capital Equipment ◽  
Content Type ◽  
Study Approach ◽  
Adaptation Processes

Purpose – The aim of this paper is to characterize adaptation processes in business relationships. The nature of adaptive behavior is described by outlining activities and events in these relationships. The role of perceived product importance and complexity in the character of the adaptations processes is sought. Design/methodology/approach – A case study approach is adopted and two long-term relationships between buyers and sellers of capital equipment in the mining industry are investigated. Perspectives from both sides of the dyad (buyer and seller) were attained through in-depth interviews. Findings – Findings show that supplier-based adaptations occur more frequently than customer-based adaptations. The market antecedents of concentration and resource dependency are identified as drivers of adaptive behavior. Furthermore, product importance and complexity are key drivers to adaptation processes and the development of long-term relationships. Supplier's brand name and the choice of a direct channel strategy are identified as indicators of long-term commitment to the market. Moreover, two-task related factors were extremely relevant as selection criteria for capital equipment: the functional suitability and the degree of standardization/customization of the equipment. Research limitations/implications – The findings are specific to the market environment and recommendations are given for the realm of the mining industry. Multi-case studies in multi-contexts should be conducted to enable generalization and potential theory-building. Practical implications – A number of important managerial implications for buyers and sellers of capital equipment in the mining industry are given. Originality/value – This paper contributes to knowledge by providing rich descriptions of adaptation processes. This real life evidence enables the identification of major drivers of adaptive behavior and, consequently, the development of long-term successful relationships.

Israeli coalition will prove unstable in the long term

2020 ◽  
Keyword(s):  
West Bank ◽  
The West ◽  
Health Crisis ◽  
Content Type ◽  
The Way

Significance It requires new legislation and changes to existing laws to establish and run the new government, including a mechanism to rotate the premiership between the pair. Many of the stipulations aim to provide guarantees, given the imbalance of power between Netanyahu and Gantz in the legislature, with the latter having split his own party by entering unity negotiations. Impacts The agreement paves the way for annexations of areas of the West Bank from July. The deal may yet be scuppered, and fresh elections called, if Netanyahu is forced from office because of his criminal indictments. Breaking conventions to offer key committee posts to the opposition may become contentious once the health crisis passes.

Value of initial relationships in new business start-ups

2020 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Jose Novais Santos ◽  
Joao Mota
Keyword(s):  
New Ventures ◽  
Customer Relationships ◽  
Value Functions ◽  
Business Relationships ◽  
Business Network ◽  
Content Type ◽  
Customer Base ◽  
New Business ◽  
Start Ups ◽  
Over Time

Purpose Several studies have focussed on new ventures and the development of their first business relationships. However, the understanding of the value functions and involvement in those relationships remain inadequate. The purpose of this paper is to explore the relating process of a new venture by combining the value function framework and the notion of the degrees of involvement in business relationships. Design/methodology/approach The authors rely on two exploratory longitudinal case studies that focus on two start-ups. In both cases, the evolution of initial relationships with suppliers and customers over a period of time are studied. Findings The process of relating can occur through a diversity of business relationships manifested in both their value functions and their degree of involvement. The combination of value functions is not stable over time nor is the degree of involvement in business relationships. Moreover, specific interdependencies emerge between the value functions in the customer base and the supplier base of the new ventures over time. Originality/value This paper is among the few that explore the emergence of new ventures by considering both suppliers and customer relationships. From a business network perspective, the paper also shows that combining value functions and degrees of involvement provides a better understanding of the role of relationship diversity in the process of becoming a node in the business network.

Discovering the collective entrepreneurial opportunities through spatial relationships

IMP Journal ◽  
2018 ◽  
Vol 12 (2) ◽  
pp. 276-295 ◽  
Author(s):  
Chiara Cantù
Keyword(s):  
Digital Fabrication ◽  
Business Relationships ◽  
Content Type ◽  
Study Approach ◽  
Business Partners ◽  
Entrepreneurial Opportunities ◽  
Start Up ◽  
New Business ◽  
Start Ups

Purpose Even if in a traditional perspective the discovery and the exploitation of opportunities are associated to the entrepreneur’s capabilities, a relational perspective is required to better analyze the phenomenon of starting up a new venture. The growing attention to interaction with the external environment has been emerging as a precondition of the entrepreneurial processes as it creates the knowledge and the experience necessary to perceive the opportunity. The entrepreneurial opportunities are created through joint acts with others through social relationships. Shifting the attention from social to business relationships, the main aim of this paper is to investigate the discovery and the exploitation of collective entrepreneurial opportunities in starting up new business. In particular, the purpose of this paper is to analyze the role of relational proximity in the entrepreneurial journey considered as an emergent process of transforming potentiality into actuality. Design/methodology/approach The paper applied a qualitative methodology (Dubois and Araujo, 2004) and a case study approach (Barrat et al., 2011). The case concerns the dyadic spin-off relationship between the innovative start up, ShapeMode (the generated firm), and the Milan FabLab (the generating firm) located in Lombardy Region (Italy). Findings The emerging of collective entrepreneurial opportunities could be analyzed at two levels: the first one concerns the dyadic spin-off relationship, while the second one is founded on the business relationships that the start-up can activate with the business partners of the generating firm. The collective entrepreneurial opportunities are positive influenced by jointness of the actors and their co-evolution, founded on the shared values and goals. Research limitations/implications Although the case study approach allowed the researcher to gain detailed information about the spin-off relationship, this effort does not measure the performance outcomes of the relationships and actions that were taken to improve the competitiveness of the start-up. Future studies would benefit from a large-scale questionnaire given to the members of the start-up and to the actors of its Entrepreneurial Network, so to analyze all of its performance implications for the start-up and the network as a whole. In addition, it could be of interest for future research to investigate the effects of collective entrepreneurial opportunities in order to examine this topic more deeply. Practical implications From a managerial point of view, even if the growing number of start-ups has been associated to a temporary phenomenon, the development of new ventures is now consolidated. A new managerial approach is required to promote the birth and the growth of the start-ups. The development of a new venture requires to shift the attention from the collection of financial resources to the exploitation of entrepreneurial opportunities generated by interconnected business relationships. In this way a relevant attention should be recognized to the new role of organizations that can be considered as facilitators of business relationships, such as the FabLab. This paper sheds light on the relevance of the strategic networking that sustains the generation of collective entrepreneurial opportunities. The networking involves actors that belong to different geographic area and different countries but that are focused on the same business dream related to the exploitation of potentialities of digital fabrication. The policymakers should recognize the role of the FabLab as facilitator of knowledge diffusion concerning digital fabrication. Originality/value The entrepreneurial opportunities such as the starting up of a new business and its evolution, are enacted, discovered and exploited through interconnected business relationships. In particular the main entrepreneurial opportunities are generated by the activation of business relationships with new business actors. Focusing on the dyadic spin-off relationship, the exploitation of collective entrepreneurial opportunities depends on the sharing of third actors. The business partners of the generating actor (FabLab) became business partners of the generated actor (start-up). The evolution of the generating firm (FabLab) influenced the birth and the evolution of the generated firms (start-up). The dyadic relationship allows the generated firm to discover entrepreneurial opportunities and to exploit them, accessing to the business partners of the generating firm. The effectiveness of the spin-off relationship sustains the replication of the model of new firm generation, that could benefit from the relationships of the two actors of the dyad. Moreover the strong relationships are founded on relational proximity that is characterized by the sharing of values, vision and business dreams.

scholarly journals Open-mindedness and adaptive business style

2019 ◽  
Vol 36 (3) ◽  
pp. 365-390
Author(s):  
Gro Alteren ◽  
Ana Alina Tudoran
Keyword(s):  
Design Methodology ◽  
Total Population ◽  
Trust Building ◽  
Business Relationships ◽  
Export Markets ◽  
Content Type ◽  
New Business ◽  
High Level ◽  
Practical Implications

Purpose The purpose of this paper is to investigate the role of relational competences, such as open-mindedness and the ability to adapt business style, in developing trustworthy relationships through communication in the export markets in different cultural contexts. Design/methodology/approach The analysis is performed on survey-based data from a sample consisting of 39.9 percent of the total population of Norwegian seafood companies involved in exporting, including 108 business relationships. Findings The findings reveal that adaptive business style and communication mediate the overall effect of open-mindedness on trust building between partners in the export markets. The adaptive business style fully explains the effect of open-mindedness on communication. Open-minded persons are better prepared to achieve communication on a high level because they are more likely to adapt to a new business style. Performing adaptive business style improves communication, particularly when the importer belongs to a dissimilar culture. For trust building, communication is equally important, irrespective of cultural differences. Practical implications Exporter should aim at recruiting open-minded people because they have the advantage that they are capable of performing a variety of negotiation styles and business approaches, depending on the situation. Originality/value This paper develops a model that integrates key constructs from the relational paradigm with constructs rooted in different research streams, extending our knowledge regarding salespeople competences that are important in order to develop business relationships in export markets.

Retooling business relationships

2017 ◽  
Vol 33 (7) ◽  
pp. 35-37
Keyword(s):  
Design Methodology ◽  
Reading Time ◽  
Global Market ◽  
Business Relationships ◽  
Business Network ◽  
Strong Argument ◽  
Content Type ◽  
Pertinent Information ◽  
Practical Implications

Purpose This paper aims to review the latest management developments across the globe and pinpoint practical implications from cutting-edge research and case studies. Design/methodology/approach This briefing is prepared by an independent writer who adds their own impartial comments and places the articles in context. Findings Strategies are often seen as something enacted by a particular firm upon others, often with the goal of “winning”. Yet the global and connected nature of business at present means that such selfish pursuits often undermine the ability of a firm to survive and profit in the long term. As such, strategy can be viewed as something that exists within a business network, one built up of business relationships. Firms can work together to achieve individual goals but without harming each other. Rarely can firms act alone in the global market, often relying on others to provide resources. Because of this, there is a strong argument for considering business relationships as another, perhaps the most important, resource that a firm has. Strategy tools can be used within a firm to boost the nature of these business relationships, ultimately improving and securing a network of firms who all profit from each other’s success. Practical implications The paper provides strategic insights and practical thinking that have influenced some of the world’s leading organizations. Originality/value The briefing saves busy executives and researchers hours of reading time by selecting only the very best, most pertinent information and presenting it in a condensed and easy-to-digest format.

Focusing megaproject strategies on sustainable best value of stakeholders

2017 ◽  
Vol 7 (4) ◽  
pp. 441-455 ◽  
Author(s):  
Mohan Kumaraswamy ◽  
Kelwin Kar Wai Wong ◽  
Jacky Chung
Keyword(s):  
Built Environment ◽  
Stakeholder Involvement ◽  
Adverse Outcomes ◽  
Content Type ◽  
Common Value ◽  
Planning And Design ◽  
Best Value ◽  
New Business

Purpose Most megaprojects focus on overcoming current infrastructure capacity problems or opening up new business opportunities, while a few may be inspired by iconic-symbolic or socio-political drivers. Also, many megaprojects may be seen to focus on benefitting proximate stakeholders in the short-medium term. A case is made here, for aligning the immediate expectations from a megaproject with a parallel focus on the best overall value for all, including long-term stakeholders, thereby also targeting more meaningful and sustainable contributions to the built environment. The paper aims to discuss these issues. Design/methodology/approach This paper draws together and synergises relevant findings from two completed PhD projects and another research project in Hong Kong. Additionally, a focused literature survey and a case study, also contribute to the development of the proposed concepts and strategies. This is therefore a hybrid between a “review” paper and a “conceptual” paper where a suite of significant improvements to current practice are conceptualised and proposed, based on logical integration of relevant findings from the above three research projects, literature review and case study. Findings Inadequate stakeholder engagement has led to many process disruptions and adverse outcomes in recent megaprojects. A structured approach focusing throughout on common overall value from the outset is proposed to achieve better and more sustainable megaproject outcomes. Specific recommendations include: aligning megaproject stakeholder objectives with regional or even national needs and targeting co-creation of common value through early stakeholder involvement in planning and design of built infrastructure megaprojects. Originality/value The increasing number, scale and complexity of megaprojects has amplified their impact on the built environment and its sustainability, hence the imperative to incorporate sustainability considerations, so as to formulate and manage megaprojects better. The proposed approaches in this paper can help revamp megaproject strategies towards such sustainable outcomes.

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