MANAGING BUSINESS RELATIONSHIPS Revision Lecture Revision 20121

EXAM STRUCTURE 2 Hours 6 Questions ◦ Broad themes ◦ Linked to sequence of lectures – and lecturers ◦ FULL CHOICE OF QUESTIONS (since 2011) ◦ 40 minutes per question (but not really) ◦ 800-1,000 words PER QUESTION ◦ Law of diminishing returns – 3 questions at 55% is better than 2 questions at 65% + 1 at 20% (50%)...so time management is key Revision 2012

BASICS 20 Credit Unit = 200 Hours’ Effort Essential Reading is ESSENTIAL – including supplementary materials in Unit Handbook and Reading Packs. Familiarity with all case studies and seminar content (even if you didn’t present) Theory, theory, theory – MUST be evaluated and/or applied (not described) Past papers are in your Unit Handbook – with more on the Library website. Sample answers ARE NOT available Revision 2012

EXAM PRINCIPLES ANSWER EXACTLY the question set A RANGE OF THEORIES is essential ◦ waffle will NOT pass ◦ do NOT simply describe theory REAL LIFE EXAMPLES are needed – find your own or from lectures/seminars CONCLUSIONS ARE ESSENTIAL - not a summary of what you’ve already said WRITE IT DOWN - we make no assumptions WRITE CLEARLY AND AS LEGIBLY AS POSSIBLE. DON’T WASTE TIME e.g. rewriting the question Revision 2012

5 Key words Identify key elements of the K approach to V. Evaluate 2 criticisms of the K approach Identify and discuss Model J. Using examples how Model J might be relevant in work organisations

9061 Revision 2012 MBR DIAMOND (© Karas 2009) ‘the total interconnectedness of all things” TrustEthics Transaction Costing External Stakeholders Marketplace Stakeholders Internal Stakeholders 6

9061 Revision 2012 THEMES (applied to all ‘topics’) Trust Development Levels Ethics Individual Organisational Transaction Costing Cost benefit “Make or buy” Prisoner’s dilemma 7

STAKEHOLDER GROUPS (Greenley 1989) Internal Owners Decision-makers Employees & Reps Marketplace Customers Competitors Suppliers External Government, political groups, etc Revision 2012

MBR AND MARKETPLACE STAKEHOLDERS Collaboration and Alliances Inter-organisational relationships - a current phenomenon Forms/types of collaboration Developing relationships (I’s and We’s) Problems/issues Relationship Marketing Development of RM Stages of relationship Relationship loyalty Acquisition vs. Retention...’leaky bucket.’ Revision 2012

MBR AND INTERNAL STAKEHOLDERS Leadership Types/Styles Traditional Approaches ◦ Trait ◦ Behavioural ◦ Contingency Transactional/Transformational Contemporary Approaches Power Sources of power Powerlessness Political behaviour Revision 2012

FURTHER QUESTIONS? Should be asked in your scheduled Revision Seminar in Week 11 IF YOU MISSED A LECTURE you will need to catch up by independent reading Questions re. reading/lecture/seminar content should have been asked in the requisite seminars. Tutors will not offer/provide additional tuition/guidance (except for scheduled revision classes.) Tutors will NOT review student’s self-test/practice exam answers Revision 2012

Enduring themes: stakeholders, trust & power A bye-gone age but... The ‘new’ organisation 9061 Revision