Kusni o a, Dana; Du iso a, Ma ia; Bubeliny, Oli e
A icle
Enhancing s akeholde alue: Manage ial ac i i ies in he
alue c ea ion p ocess o supplie s and buye . E idence
om Slo ak en e p ises
Adminis a i e Sciences
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MDPI – Mul idisciplina y Digi al Publishing Ins i u e, Basel
Sugges ed Ci a ion: Kusni o a, Dana; Du iso a, Ma ia; Bubeliny, Oli e (2024) : Enhancing
s akeholde alue: Manage ial ac i i ies in he alue c ea ion p ocess o supplie s and buye .
E idence om Slo ak en e p ises, Adminis a i e Sciences, ISSN 2076-3387, MDPI, Basel, Vol. 14,
Iss. 8, pp. 1-25,
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Ci a ion: Kusni o a, Dana, Ma ia
Du iso a, and Oli e Bubeliny. 2024.
Enhancing S akeholde Value:
Manage ial Ac i i ies in he Value
C ea ion P ocess o Supplie s and
Buye —E idence om Slo ak
En e p ises. Adminis a i e Sciences 14:
186. h ps://doi.o g/10.3390/
admsci14080186
Recei ed: 8 July 2024
Re ised: 11 Augus 2024
Accep ed: 16 Augus 2024
Published: 20 Augus 2024
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adminis a i e
sciences
Sys ema ic Re iew
Enhancing S akeholde Value: Manage ial Ac i i ies in he Value
C ea ion P ocess o Supplie s and Buye —E idence om
Slo ak En e p ises
Dana Kusni o a 1,* , Ma ia Du iso a 1and Oli e Bubeliny 2,*
1Depa men o Mac o and Mic oeconomics, Facul y o Managemen Science and In o ma ics,
Uni e si y o Zilina, 010 26 Zilina, Slo akia; [email p o ec ed]
2
Depa men o Managemen Theo ies, Facul y o Managemen Science and In o ma ics,
Uni e si y o Zilina,
010 26 Zilina, Slo akia
*Co espondence: [email p o ec ed] (D.K.); oli e [email p o ec ed] (O.B.)
Abs ac : The pape aims o iden i y, cha ac e ize, and de e mine he me hod o manage ial ac i i ies
in he alue c ea ion p ocess o buye s and supplie s wi h he subsequen de e mina ion o hei sig-
ni icance. The s udy employs a hyb id me hodology combining heo e ical and empi ical app oaches.
The heo e ical amewo k was de eloped h ough a sys ema ic e iew o con empo a y li e a u e,
leading o he c ea ion o a p ocedu al model o e ec i e alue c ea ion in B2B en i onmen s. This
model ou lines key manage ial ac i i ies, including he di e si ica ion o supplie s and buye s, se-
cu ing communica ion channels, alue iden i ica ion, de e mina ion o alue c ea ion a ian s, and
eedback e alua ion. To empi ically alida e his amewo k, in e iews we e conduc ed wi h man-
age s om wen y Slo ak manu ac u ing en e p ises. These in e iews aimed o assess he alignmen
be ween he heo e ical model and ac ual manage ial p ac ices and o iden i y any disc epancies o
a eas o imp o emen . The indings indica e ha while manage s engage in se e al key ac i i ies
in ui i ely, he e a e no able a ia ions in he applica ion o speci ic p ac ices. The s udy con ibu es
o he li e a u e by b idging heo e ical concep s wi h p ac ical implemen a ion. I o e s ac ionable
ecommenda ions o enhancing alue c ea ion p ocesses, highligh ing he impo ance o aligning
manage ial p ac ices wi h heo e ical bes p ac ices o achie e be e s akeholde sa is ac ion and
business success.
Keywo ds: manage ial ac i i ies; alue c ea ion p ocess; sus ainable ela ionships; s akeholde s;
echniques and p ocedu es; map o manage ial ac i i ies; di e si ica ion o supplie s and buye s;
alue iden i ica ion; alue c ea ion a ian s; pe cep ion and eedback
JEL Classi ica ion: M10
1. In oduc ion
In he con empo a y economic en i onmen , business manage s seek new compe i i e
ad an ages, one o which is he alue-c ea ion p ocess o s akeholde s. This in ol es
manage ial ac i i ies—me hods, p ocedu es, and echniques designed o gene a e alue
o s akeholde s. These ac i i ies encompass exp essing s akeholde alue, measu ing i
h ough inancial and non- inancial indica o s, and iden i ying ac o s in luencing alue
c ea ion. Resea ch indica es a sys emic app oach is necessa y o alue c ea ion o supplie s
and buye s, emphasizing ha alue c ea ion is no a p oduc o andom p ocesses bu o
delibe a e manage ial ac ions. Acco ding o he 2023 SRM Resea ch by S a e o Flux, he
de elopmen o skills and compe encies is a no ably weak aspec o supplie managemen .
O e 20% o en e p ises cu en ly do no o e speci ic aining o supplie managemen
(S a e o Flux 2023). This unde sco es he necessi y o all en e p ises, no jus hose amilia
wi h alue managemen , o consolida e managemen ac i i ies, echniques, p ocedu es,
Adm. Sci. 2024,14, 186. h ps://doi.o g/10.3390/admsci14080186 h ps://www.mdpi.com/jou nal/admsci
Adm. Sci. 2024,14, 186 2 o 25
and me hods in o a single comp ehensi e model o enhance hei unde s anding and
p ac ical applica ion.
Manage ial ac i i ies a e in eg al o achie ing en e p ise goals and in ol e he explo-
a ion o me hods and p ocedu es o de ine s eps and sequences sys ema ically. Mode n
en e p ises ecognize ha alue c ea ion should ex end beyond owne s and cus ome s
o include o he s akeholde s, os e ing long- e m sus ainable ela ionships and loyal y.
Businesses a e inc easingly a en i e o he needs, a i udes, opinions, and goals o hei
supplie s and buye s. The aim is o secu e loyal y by c ea ing and deli e ing alue, wi h
manage s and hei ac i i ies playing a c ucial ole in his p ocess.
In oday’s apidly e ol ing business landscape, he abili y o en e p ises o e ec i ely
manage ela ionships wi h supplie s and buye s is c ucial o sus aining a compe i i e edge
and ensu ing long- e m success. Value c ea ion o hese key s akeholde s is no me ely a
unc ion o ansac ional in e ac ions bu in ol es a s a egic p ocess ha can signi ican ly
impac an en e p ise’s o e all pe o mance and s abili y.
Despi e he c i ical impo ance o his p ocess, many en e p ises ace se e al challenges
ha hinde hei abili y o c ea e and sus ain alue e ec i ely. These challenges include:
•
Inconsis ency in P ocesses: The e is a no able inconsis ency in how en e p ises app oach
and implemen alue-c ea ion p ocesses o supplie s and buye s. This a iabili y can
lead o ine iciencies and missed oppo uni ies o es ablishing s ong pa ne ships.
•
Lack o De ined Techniques and P ocedu es: Many en e p ises s uggle wi h he
absence o clea ly de ined echniques and p ocedu es ha a e essen ial o execu ing
alue c ea ion s a egies e ec i ely. Wi hou hese guidelines, en e p ises may ind i
di icul o s anda dize and op imize hei app oach.
•
Unclea Impo ance and Usage: The signi icance and p ac ical applica ion o alue
c ea ion p ocesses o en emain unclea . This ambigui y can esul in unde u iliza ion
o misalignmen o s a egies wi h he ac ual needs o supplie s and buye s.
•
Unde ined S eps in he P ocess: The s eps in ol ed in he alue c ea ion p ocess a e
equen ly unde ined o poo ly a icula ed, which complica es e o s o implemen
bes p ac ices and achie e desi ed ou comes.
This pape aims o add ess hese issues by p esen ing a de ailed analysis o he
alue c ea ion p ocess, suppo ed by con empo a y li e a u e and empi ical e idence, as
discussed in Sec ion 4—Resul s.
By add essing hese c i ical issues, he esea ch seeks o p o ide ac ionable insigh s
and a comp ehensi e amewo k o enhancing he alue c ea ion p ocess, ul ima ely
leading o imp o ed ela ionships wi h supplie s and buye s and os e ing sus ainable
business g ow h.
Based on he six sec ions o manage ial ac i i ies de ailed in he esul s sec ion, wo
esea ch ques ions we e es ablished:
Q1: Do en e p ises engage in manage ial ac i i ies and adhe e o he sec ions o he
alue c ea ion p ocess as de ined in he pape ?
Q2: Which manage ial ac i i ies (sec ions) a e conside ed mos impo an by manage s?
Despi e ex ensi e esea ch on alue c ea ion in business en i onmen s, he e emains
a no able gap in he li e a u e conce ning he speci ic manage ial ac i i ies ha suppo
he alue-c ea ion p ocess o supplie s and buye s. This pape add esses his gap by
de ining manage ial ac i i ies and ou lining hei di ision in o s eps wi hin he alue-
c ea ion p ocess. While gene al amewo ks o alue c ea ion a e well documen ed,
speci ic manage ial ac i i ies and echniques emain unde explo ed.
The pape aims o p esen a de ailed analysis o hese manage ial ac i i ies, highligh -
ing how hey can be e ec i ely implemen ed o build sus ainable business ela ionships,
educe he cos s o acqui ing new pa ne s, and p o ide a compe i i e ad an age and
inc eased p o i abili y o en e p ises. Sec ion 2—Li e a u e Re iew examines exis ing e-
sea ch o iden i y hese gaps, e ealing ha while heo e ical amewo ks o alue c ea ion
a e a ailable, he p ac ical applica ion and de ailed manage ial p ocesses ha e no been
su icien ly add essed.
Adm. Sci. 2024,14, 186 3 o 25
The indings, de ailed in Sec ion 4—Resul s, u he illus a es how hese gaps mani es
in p ac ice and o e a comp ehensi e amewo k o imp o ing manage ial p ac ices in he
alue-c ea ion p ocess. This con ibu ion ad ances bo h academic knowledge and p ac ical
business s a egies by b idging he iden i ied gap in he li e a u e.
The pape is di ided in o six sec ions. The In oduc ion and Li e a u e Re iew sec ions
iden i y he esea ch p oblem and highligh gaps in he exis ing li e a u e. The Me hodol-
ogy sec ion ou lines he esea ch app oach, including a sys ema ic li e a u e e iew and
empi ical e idence ga he ed h ough in e iews wi h manage s om Slo ak en e p ises.
The Resul s a e p esen ed in e ms o how manage ial p ac ices align wi h heo e ical ame-
wo ks and hei p ac ical implica ions. The Discussion sec ion o e s ecommenda ions
based on hese indings, p o iding insigh s o bo h academic and business communi ies.
The Conclusion summa izes he esea ch indings and sugges s di ec ions o u u e s udies,
emphasizing he con ibu ion o his wo k o unde s anding and imp o ing manage ial
ac i i ies wi hin he alue-c ea ion p ocess.
2. Li e a u e Re iew
2.1. Value and S akeholde s
The in e na ional s anda ds EN 1325: 2014—Value managemen , Vocabula y, Te ms
and De ini ions (BSI 2014) and EN 12973: 2020—Value managemen (BSI 2020) is he
p ima y heo e ical basis. These s anda ds de ine alue as a measu e ha exp esses how
well an o ganiza ion, p ojec , o p oduc sa is ies s akeholde s’ needs in ela ion o he
consumed esou ces. Howe e , he iew o alue, and hus i s de ini ions, may be di e en .
Da ies and Da ies (2011) de ine alue as he di e ence be ween esul s and esou ces.
In his case, i is a a e whe e he esul s o s akeholde s exceed he cos o inpu s and
esou ces. In he pas , he alue was unde s ood as “ma ginal u ili y” (Tu ne 1990). Value
has many de ini ions. Acco ding o Leung and Liu (2003), i is a subjec i e poin o iew
ha mani es s i sel in a ious ways, such as p e e ence, need, a i ude, desi e, ai h, o
o he c i e ia. Aliakba lou e al. (2017) also say ha alue has a dynamic na u e ha
changes o e ime. Cha and O’Conno (2005) poin s ou ha he e is no single and accu a e
de ini ion o alue since alue as such has an essen ially abs ac concep .
In e na ional s anda ds EN 1325-2014— alue managemen , Vocabula y, Te ms and
De ini ions (BSI 2014), and EN 12973: 2020—Value managemen (BSI 2020) u he de ines
a s akeholde as a pe son o o ganiza ion in e es ed in and in luencing an en e p ise o
p oduc a any ime du ing i s li e cycle. The wo d s akeholde is used in a ious con ex s
in he case o specialis s and he case o he public. Fo he gene al public, he s akeholde
is a gene al e m compa ed o “ci izen”, i.e., someone who pa icipa es in public li e. Fo
specialis s, a s akeholde is a pe son who is no a sha eholde (Bonna ous-Bouche and
Rend o 2016). A s akeholde is hus a pe son, g oup, o company ha can in luence an
en e p ise o p ojec and i sel can be a ec ed by ha p ojec o company. i.e., s akeholde s
a e in e es ed in he p ojec o en e p ise. S akeholde s a e in luen ial playe s whose ole
is complex bu equally complica ed (Li au e al. 2010). Ul ima ely, i can be anyone who
in e e es wi h he en e p ise o on he p ojec (Salhan 2020).
A he same ime, Salhan (2020) de ines wo basic ypes o s akeholde s, which a e:
•
In e nal s akeholde s a e s akeholde s wi hin he en e p ise o p ojec ha a e pa o
he en e p ise o wo k di ec ly on he p ojec (owne s, employees, manage s).
•
Ex e nal s akeholde s a e s akeholde s ha do no wo k wi hin he en e p ise bu
a e in luenced by he en e p ise o he ongoing p ojec (supplie s, cus ome s, buye s,
socie y, go e nmen , compe i o s, and c edi o s).
McG a h and Whi y (2017) u he di ided s akeholde s based on engagemen in o
engaged and non-engaged. F eeman e al. (2007) spli s akeholde s in o p ima y and sec-
onda y. Cla kson (1995) has al eady e e ed o p ima y s akeholde s as pe sons whe e he
en e p ise canno unc ion wi hou hei e ec i e ac i i y. This g oup also includes buye s
and supplie s. Blazek e al. (2005) add ha his ela ionship wi h p ima y s akeholde s is
buil on a o mal basis, i.e., ha he ela ionship is con ac ually decla ed.
Adm. Sci. 2024,14, 186 4 o 25
E e y en e p ise s i es o secu e a compe i i e ad an age, which is also one o i s
goals. To ensu e he compe i i eness o an en e p ise in he domes ic and global ma ke , i
is necessa y o be awa e o he alue and impo ance o people in he p ocess (Kucha ciko a
and Miciak 2017). The en e p ise achie es a compe i i e ad an age based on in e nal capa-
bili ies and he in e connec ion o ela ions wi h ex e nal en i ies—s akeholde s (Pa k e al.
2010). Fo his connec ion, i is possible o use he alue c ea ion p ocess o s akeholde s
wi h i s consecu i e indi idual ac i i ies. Managemen ac i i ies a e one o hese ac i i ies.
Based on he in o ma ion p ocessed so a , i is possible o cha ac e ize and de ine me hods,
p ocedu es, and echniques o c ea e alue o selec ed s akeholde s in he en e p ise. A
he p esen s age, en e p ises ha e begun o ocus on new app oaches and p ac ices in
a ious managemen ac i i ies and building sus ainable ela ionships wi h s akeholde s.
These app oaches and alue c ea ion p ac ices a e closely linked o mo i a ion. Calcula ing
he economic e u n on any in es men in mo i a ion is e y di icul because i is based on
a complex quan i ica ion o measu able bene i s o he en e p ise (Hi ka e al. 2017). One
o he main goals o any o ganiza ion is o achie e as much e iciency and p o i as possible
(P usa e al. 2020). S ong co po a e social esponsibili y can also enhance a company’s
epu a ion and maximize hei p o i (Toka ciko a e al. 2016). P o i also depends on
he compe i i eness o he en e p ise. Compe i i eness is ac ually “compe ing wi h o he
en e p ises in he gi en b anch” (Tekulo a e al. 2016).
2.2. Manage ial Ac i i ies
Manage ial ac i i ies a e based on manage ial unc ions. These unc ions a e p obably
he mos ypical way o classi ying manage s’ ac i i ies in he li e a u e. In his con ex ,
he unc ion o a manage is di ided in o indi idual unc ions o ac i i ies. H. Fayol
(1949) was he i s o de ine manage ial unc ions as planning, o ganizing, commanding,
con olling, and coo dina ing. Subsequen ly, u he classi ica ions we e c ea ed. Gulick
and U wick (1937) modi ied he classi ica ion o manage ial unc ions and di ided hem
in o planning, o ganizing, s a ing, di ec ing, coo dina ion, epo ing, and budge ing. They
c ea ed he ac onym POSDCORB, which is s ill used oday. Fayol’s manage ial unc ions
we e also adjus ed by Koon z and Weih ich (1988) in o planning, o ganizing, human
esou ces managemen , leade ship, and con ol. Desouza and Paque e (2011) na owed
he manage ial unc ions o ou main ones: planning, o ganizing, con olling, and leading.
Managemen is hus a p ocess o sys ema ic pe o mance o all manage ial unc ions and
e ec i e use o co po a e esou ces o de e mine and achie e he en e p ise’s goals. I is
essen ial o unde s and managemen as a p ocess in e ms o comple e managemen o he
business ac i i ies o as a se o ac i i ies o achie e a p ede e mined goal (Hi ma 2006).
Mika (2006) de ined manage ial unc ions in o h ee undamen al manage ial oles: he
decision-making ole o a manage , he in o ma ion ole o a manage , and he manage ’s
in e pe sonal ole. i.e., wi hin he decision-making ole o he manage , all manage ial
ac i i ies a e ocused on he decision-making p ocess conce ning he s a egy, goals, and
he e y p ocedu es o achie ing he en e p ise’s goals. Wi hin he in o ma ion ole o he
manage , hese manage ial ac i i ies a e ocused on moni o ing, e alua ion, and p o ision
o in o ma ion o supe io s, subo dina es, and o he s akeholde s. Managemen ac i i ies
wi hin he in e pe sonal ole a e ocused on main aining sus ainable ela ionships wi hin
he company and wi h o he s akeholde s (Mika 2006).
Manage ial ac i i ies a e based on he en e p ise’s goal, s a egy, and esou ces and a e
in luenced by he equi emen s, cha ac e is ics, and assump ions o he manage himsel .
Managemen ac i i ies associa ed wi h he wo k o a manage a e no ou ine. On he
con a y, i is a c ea i e and un epea able ac i i y ha con inuously changes based on
changing condi ions. Fo a manage ’s wo k o be su icien , he mus ha e speci ic skills,
whe he communica ion, echnical, concep ual, o in e pe sonal (Piskanin e al. 2010). High
demands a e placed on he manage , no only on his skills, abili ies, o wo k expe ience bu
also di ec ly on his pe sonali y, cha ac e ai s, o cha ac e is ics ha p ede e mine him o
achie e he goals e ec i ely (Pisono a 2011). The implemen a ion o manage ial ac i i ies
Adm. Sci. 2024,14, 186 5 o 25
and how a pe son pe o ms hese asks depends on he manage ’s pe sonali y. Manage s
pe o m manage ial unc ions in a ious scopes, a ios, and con en . P e e ences, a i udes,
manage ial s yle, and pe sonali y cha ac e is ics de ine and in luence manage ial unc ions’
meaning, o de , and con en (Be de 2003). Wu e al. (2004) poin ed ou ha managemen
ac i i ies a e closely linked o in o ma ion echnology, whe e he manage ’s necessa y skills
a e in luenced no only by he goal, he achie es bu also by he o ganiza ional en i onmen
in which he wo ks and he in o ma ion echnology wi h which he wo ks wi h.
2.3. Value C ea ion o Supplie s and Buye s
The alue c ea ion p ocess be ween supplie s and buye s is c ucial in supplie e-
la ionship managemen . This p ocess encompasses a ious ac i i ies and s a egies ha
can signi ican ly impac compe i i e ad an age. Cu en s udies indica e ha alue c e-
a ion ex ends beyond in a- i m ac i i ies o include in e - i m ela ionships, ocusing on
op imizing in e ac ions wi h supplie s and buye s (Kähkönen e al. 2015;Miguel e al.
2014). Fu he esea ch explo es he alues c ea ed and edis ibu ed wi hin coope a i e
ela ionships be ween buye s and supplie s, highligh ing s a egic pa ne ships as a key
ac o in alue c ea ion (Du iso a and Kusni o a 2022). Buye s o en ecei e a la ge
sha e o he alue c ea ed compa ed o supplie s (Age on and Spalanzani 2010). A s udy
by Kähkönen e al. (2015) examines he in luence o buye s’ dependence on supplie s,
e ealing ha c oss- i m lea ning and ea ly supplie in ol emen in p ojec s enhance alue
c ea ion (Kähkönen e al. 2015). Manage ial ac i i ies a e i al in op imizing alue c ea ion,
pa icula ly in he s a egic selec ion o supplie s. This selec ion p ocess should conside
no only cos ac o s bu also long- e m collabo a ion and inno a i e app oaches (Age on
and Spalanzani 2010). Men ze e al. (2000) a gue ha business pa ne ships can gene a e
alue h ough syne gis ic e ec s and mu ual coope a ion. Addi ionally, supplie selec ion
is iden i ied as a c i ical ac o in luencing alue c ea ion. O he s udies emphasize he im-
po ance o inno a ion in se ice p ocu emen and i s signi ican impac on alue c ea ion,
ad oca ing o a sys emic app oach o pu chasing o be e in eg a e supply chain se ices
(Se ice Pu chasing and Value C ea ion: Towa ds Sys emic Pu chases—ScienceDi ec n.d.).
Many s udies ocus on echnology-in ensi e indus ies, such as cons uc ion, whe e p ojec
managemen plays a key ole. In hese indus ies, coope a ion o en leads o inancial
bene i s and compe i i e ad an ages, ul ima ely enhancing he alue ha supplie s deli e
o cus ome s (Yu e al. 2024).
Se e al gaps in he cu en li e a u e on supplie -buye alue ha e been iden i ied as
impo an a eas o u he esea ch. One signi ican gap is he lack o unde s anding e-
ga ding he asymme ic dis ibu ion o alue be ween buye s and supplie s, whe e buye s
o en ecei e a la ge sha e, po en ially limi ing supplie s in long- e m coope a ion (Miguel
e al. 2014). Ano he gap in ol es he incomple e explo a ion o dynamic ela ionships
ha in luence alue c ea ion and edis ibu ion ac oss di e en indus ies. Addi ionally,
he e is a need o be e unde s and how inno a i e echnologies and digi al ools impac
alue c ea ion in supply chains. Fo ins ance, Bakos and B ynjol sson (1993) sugges ha
in o ma ion echnology can op imize he numbe o supplie s, bu i s long- e m impac
on alue c ea ion emains unde explo ed (Bakos and B ynjol sson 1993). Fu he esea ch
should also in es iga e di e ences in alue c ea ion ac oss a ious cul u al and geog aphi-
cal con ex s. Kähkönen e al. (2015), o example, emphasize ha buye dependence on
supplie s can a y by egion, necessi a ing deepe analysis (Kähkönen e al. 2015). Ano he
o e looked a ea is he ole o managemen skills in alue c ea ion and cap u e. While
Men ze e al. (2000) sugges ha manage ial skills a e c ucial, hei speci ic impac emains
unclea . Fu he mo e, Lee and Kim (2001) highligh he impo ance o supplie selec ion o
alue op imiza ion, ye a comp ehensi e heo y ha uni ies hese insigh s is s ill lacking
(Lee and Kim 2001). Resea ch gaps also exis in he in e ac ions be ween la ge and small
businesses. Fo example, Swi and G uben (2000) no e di e ences in supplie selec ion
p e e ences, bu hei impac on alue c ea ion has no been su icien ly explo ed (Swi
and G uben 2000). Addi ionally, examining he long- e m e ec s o pa ne ships be ween
Adm. Sci. 2024,14, 186 6 o 25
en e p ises in di e en phases o ma ke de elopmen could p o ide new insigh s in o he
sus ainabili y o alue c ea ion.
The alue c ea ion p ocess be ween supplie s and buye s can be s uc u ed in o six
successi e s eps (see Figu e 1). The i s s ep in ol es iden i ying common goals be ween
buye s and supplie s, such as sus ainabili y and inno a ion (G ön oos and Voima 2013).
The second s ep ocuses on coo dina ing ela ionships and gene a ing alue h ough join
planning and in o ma ion sha ing, aiming o c ea e a syne gis ic e ec (Examining Supply
Chain Rela ionships: Do Buye and Supplie Pe spec i es on Collabo a i e Rela ionships
Di e n.d.). The hi d s ep is he pu sui o inno a ion, no only in p oduc s and se ices
bu also in p ocess imp o emen s (Gualand is and Kalchschmid 2014). The ou h s ep
in ol es egula ly e alua ing pe o mance and adap ing s a egies based on eedback,
wi h he goal o maximizing alue (Hald and Ellegaa d 2011). The i h s ep emphasizes
building long- e m pa ne ships (Ca e and Roge s 2008). The inal s ep ocuses on
op imizing p ocesses using cu en da a and p o iding eedback. This p ocess is con inuous,
allowing o adjus men s and imp o emen s in ela ionships a e eedback has been
ecei ed (Kähkönen e al. 2015).
Adm. Sci. 2024, 14, x FOR PEER REVIEW 6 o 27
sugges ha in o ma ion echnology can op imize he numbe o supplie s, bu i s long-
e m impac on alue c ea ion emains unde explo ed (Bakos and B ynjol sson 1993).
Fu he esea ch should also in es iga e diffe ences in alue c ea ion ac oss a ious
cul u al and geog aphical con ex s. Kähkönen e al. (2015), o example, emphasize ha
buye dependence on supplie s can a y by egion, necessi a ing deepe analysis
(Kähkönen e al. 2015). Ano he o e looked a ea is he ole o managemen skills in alue
c ea ion and cap u e. While Men ze e al. (2000) sugges ha manage ial skills a e c ucial,
hei speci ic impac emains unclea . Fu he mo e, Lee and Kim (2001) highligh he
impo ance o supplie selec ion o alue op imiza ion, ye a comp ehensi e heo y ha
uni ies hese insigh s is s ill lacking (Lee and Kim 2001). Resea ch gaps also exis in he
in e ac ions be ween la ge and small businesses. Fo example, Swi and G uben (2000)
no e diffe ences in supplie selec ion p e e ences, bu hei impac on alue c ea ion has
no been sufficien ly explo ed (Swi and G uben 2000). Addi ionally, examining he long-
e m effec s o pa ne ships be ween en e p ises in diffe en phases o ma ke
de elopmen could p o ide new insigh s in o he sus ainabili y o alue c ea ion.
The alue c ea ion p ocess be ween supplie s and buye s can be s uc u ed in o six
successi e s eps (see Figu e 1). The i s s ep in ol es iden i ying common goals be ween
buye s and supplie s, such as sus ainabili y and inno a ion (G ön oos and Voima 2013).
The second s ep ocuses on coo dina ing ela ionships and gene a ing alue h ough join
planning and in o ma ion sha ing, aiming o c ea e a syne gis ic effec (Examining Supply
Chain Rela ionships: Do Buye and Supplie Pe spec i es on Collabo a i e Rela ionships
Diffe n.d.). The hi d s ep is he pu sui o inno a ion, no only in p oduc s and se ices
bu also in p ocess imp o emen s (Gualand is and Kalchschmid 2014). The ou h s ep
in ol es egula ly e alua ing pe o mance and adap ing s a egies based on eedback,
wi h he goal o maximizing alue (Hald and Ellegaa d 2011). The i h s ep emphasizes
building long- e m pa ne ships (Ca e and Roge s 2008). The inal s ep ocuses on
op imizing p ocesses using cu en da a and p o iding eedback. This p ocess is
con inuous, allowing o adjus men s and imp o emen s in ela ionships a e eedback
has been ecei ed (Kähkönen e al. 2015).
Figu e 1. Six s eps o he alue c ea ion p ocess be ween supplie s and buye s.
3. Ma e ial and Me hods
The pape aims o iden i y, cha ac e ize, and assess he u iliza ion o manage ial
ac i i ies in he alue-c ea ion p ocess o buye s and supplie s, emphasizing hei
impo ance. The esea ch employs p ima y me hods, including in e iews wi h wen y
manage s om manu ac u ing en e p ises in Slo akia. These in e iews ocused on
unde s anding key aspec s o manage ial ac i i ies and he echniques and p ocedu es
in ol ed in alue c ea ion.
The heo e ical amewo k o he pape d aws om e lec i e esea ch, which
examines exis ing heo ies o echniques in new con ex s (Molna e al. 2012). The
app oach adop ed is quali a i e and induc i e, aiming o build a comp ehensi e
Figu e 1. Six s eps o he alue c ea ion p ocess be ween supplie s and buye s.
3. Ma e ial and Me hods
The pape aims o iden i y, cha ac e ize, and assess he u iliza ion o manage ial
ac i i ies in he alue-c ea ion p ocess o buye s and supplie s, emphasizing hei impo -
ance. The esea ch employs p ima y me hods, including in e iews wi h wen y manage s
om manu ac u ing en e p ises in Slo akia. These in e iews ocused on unde s and-
ing key aspec s o manage ial ac i i ies and he echniques and p ocedu es in ol ed in
alue c ea ion.
The heo e ical amewo k o he pape d aws om e lec i e esea ch, which examines
exis ing heo ies o echniques in new con ex s (Molna e al. 2012). The app oach adop ed
is quali a i e and induc i e, aiming o build a comp ehensi e unde s anding h ough
in o ma ion ga he ing (Disman 2011;Molna e al. 2012). Con en analysis o ele an
li e a u e, a icles, books, and case s udies o ms he p ima y esea ch me hod. This
me hod no only desc ibes and quan i ies indings bu also o e s in e p e a i e insigh s.
Desc ip i e s a is ics, such as a e ages and equencies, a e used o analyze da a, wi h
g aphical ep esen a ions and ables enhancing da a cla i y and comp ehensibili y.
The esea ch began wi h a sys ema ic li e a u e e iew o build a heo e ical ounda ion.
Rele an a icles we e selec ed based on hei con ibu ion o unde s anding manage ial
ac i i ies in he alue-c ea ion p ocess o supplie s and buye s. This e iew explo ed
in e na ional s anda ds, alue managemen ins i u es, and exis ing li e a u e o g ound he
de elopmen o he alue c ea ion p ocess.
Following he li e a u e e iew, con en analysis was employed o examine he iden i-
ied heo ies and concep s in dep h. The app oach o con en analysis was adap ed om
(Windso 2017). This analysis p o ided c ucial insigh s in o he heo e ical amewo k.
Based on he sys ema ic li e a u e e iew, con en analysis, and ex ensi e p io esea ch
Adm. Sci. 2024,14, 186 7 o 25
in he a ea o c ea ing alue o supplie s and buye s, six sec ions o manage ial ac i i ies
we e de eloped. Each sec ion is de ailed in he Resul s sec ion, wi h e e ences o he
heo e ical ounda ion, desc ibing sequen ial s eps, echniques, and p ocedu es pe inen
o hei applica ion. The echniques we e selec ed based on hei applicabili y wi hin he
managemen ac i i ies o he gi en sec ion. The con en o indi idual echniques se es as
an example o hei use in a speci ic sec ion o manage ial ac i i ies wi hin he amewo k
o alue c ea ion o supplie s and buye s. Examples o indi idual echniques, along wi h
he six sec ions o manage ial ac i i ies, we e explained and discussed wi h manage s o
manu ac u ing en e p ises du ing in e iews.
Resea ch ques ions o manage s o manu ac u ing en e p ises in Slo akia we e o -
mula ed based on he de eloped sec ions o manage ial ac i i ies. In e iews we e hen
conduc ed wi h manage s om Slo ak en e p ises (each en e p ise was ep esen ed by one
single manage ). The in e iew ques ions (Appendix A) we e designed based on insigh s
om he li e a u e e iew, con en analysis, and p io esea ch. These in e iews aimed
o suppo he con en o he manage ial ac i i ies sec ions and explo e how manage s
implemen he alue c ea ion p ocess, as well as iden i y gaps be ween heo e ical and
p ac ical applica ions.
Ul ima ely, he pape ’s co e objec i e is o es ablish a amewo k o manage ial
ac i i ies wi hin he alue-c ea ion p ocess o supplie s and buye s. This amewo k is de-
signed o os e endu ing and mu ually bene icial ela ionships wi h hese key s akeholde s
in en e p ises.
The esea ch speci ically ocuses on business- o-business (B2B) in e ac ions, emphasiz-
ing he ela ionships be ween en e p ises and hei supplie s and buye s a he han inal
consume s. This ocus is essen ial o collec ing pe inen da a om businesses in ol ed in
dealings wi h o he businesses. The e o e, he businesses ha ul illed hese equi emen s
we e selec ed. The in e iews we e pe o med in pe son wi h manage s and owne s o
20 en e p ises who we e knowledgeable o alue managemen (VM) p inciples. The sample
consis ed o small and medium-sized en e p ises (SMEs) wi hin he manu ac u ing sec o ,
chosen o ensu e geog aphical di e si y by including en e p ises om a ious egions
ac oss Slo akia. This app oach aimed o p o ide a comp ehensi e o e iew o alue
managemen (VM) p ac ices h oughou Slo ak businesses. The s udy ocused on legally
egis e ed manu ac u ing en e p ises in Slo akia, speci ically small and medium-sized
en e p ises classi ied by hei numbe o employees and annual u no e . Fo inclusion,
hese en e p ises had o ag ee o pa icipa e in he su ey and sha e in o ma ion abou hei
alue managemen p ocesses and s akeholde ela ionship p ac ices. Gi en he ela i ely
small sample size o 20 pa icipan s, po en ial biases in he da a collec ion p ocess mus be
acknowledged, which migh impac he gene alizabili y o he indings. E en hough he
in e iew esul s we e no he main ocus o he pape , hey p o ided essen ial p ac ical
insigh s in o he de ined sec ions o manage ial ac i i ies wi hin he alue-c ea ion p ocess
o supplie s and buye s. The in e iews o e ed aluable pe spec i es on he en e p ises’
use o alue managemen and hei in e ac ions wi h buye s and supplie s.
Al hough he s udy ocuses on manage ial ac i i ies in he alue-c ea ion p ocess
o supplie s and buye s and he c ea ion o a cohesi e map o manage ial ac i i ies, he
suppo ing esea ch is conduc ed wi h Slo ak en e p ises. While he indings p o ide
aluable insigh s in o he alue c ea ion p ocess wi hin his con ex , i is impo an o
conside po en ial limi a ions ega ding he gene alizabili y o hese insigh s o o he
egions o coun ies. The business en i onmen , cul u al ac o s, and economic condi ions
in Slo akia may in luence manage ial ac i i ies and hei e ec i eness in ways ha di e
om o he egions.
4. Resul s
4.1. Manage ial Ac i i ies in he Value C ea ion P ocess o Supplie s and Buye s
The analysis o heo e ical ounda ions in managemen decision-making and alue
managemen , as de ailed in he Li e a u e Re iew sec ion, combined wi h ex ensi e p io
Adm. Sci. 2024,14, 186 8 o 25
esea ch in he a ea o c ea ing alue o supplie s and buye s, se ed as he basis o
de eloping six key sec ions o manage ial ac i i ies wi hin he alue c ea ion p ocess o
supplie s and buye s, as majo en e p ises’ s akeholde s (see Figu e 2). The li e a u e
e iew (Men ze e al. 2000;Kähkönen e al. 2015;Age on and Spalanzani 2010) p o ided
key insigh s in o he manage ial ac i i ies, which we e hen syn hesized in o he amewo k
illus a ed in Figu e 2. This in eg a ion o exis ing esea ch ensu es ha he amewo k is
bo h g ounded in heo e ical knowledge and applicable o p ac ical scena ios.
Adm. Sci. 2024, 14, x FOR PEER REVIEW 8 o 27
wi hin he alue-c ea ion p ocess o supplie s and buye s. The in e iews offe ed
aluable pe spec i es on he en e p ises’ use o alue managemen and hei in e ac ions
wi h buye s and supplie s.
Al hough he s udy ocuses on manage ial ac i i ies in he alue-c ea ion p ocess o
supplie s and buye s and he c ea ion o a cohesi e map o manage ial ac i i ies, he
suppo ing esea ch is conduc ed wi h Slo ak en e p ises. While he indings p o ide
aluable insigh s in o he alue c ea ion p ocess wi hin his con ex , i is impo an o
conside po en ial limi a ions ega ding he gene alizabili y o hese insigh s o o he
egions o coun ies. The business en i onmen , cul u al ac o s, and economic condi ions
in Slo akia may in luence manage ial ac i i ies and hei effec i eness in ways ha diffe
om o he egions.
4. Resul s
4.1. Manage ial Ac i i ies in he Value C ea ion P ocess o Supplie s and Buye s
The analysis o heo e ical ounda ions in managemen decision-making and alue
managemen , as de ailed in he Li e a u e Re iew sec ion, combined wi h ex ensi e p io
esea ch in he a ea o c ea ing alue o supplie s and buye s, se ed as he basis o
de eloping six key sec ions o manage ial ac i i ies wi hin he alue c ea ion p ocess o
supplie s and buye s, as majo en e p ises’ s akeholde s (see Figu e 2). The li e a u e
e iew (Men ze e al. 2000; Kähkönen e al. 2015; Age on and Spalanzani 2010) p o ided
key insigh s in o he manage ial ac i i ies, which we e hen syn hesized in o he
amewo k illus a ed in Figu e 2. This in eg a ion o exis ing esea ch ensu es ha he
amewo k is bo h g ounded in heo e ical knowledge and applicable o p ac ical
scena ios.
Figu e 2. Key sec ions o manage ial ac i i ies in he alue c ea ion p ocess o supplie s and buye s
as majo en e p ises’ s akeholde s.
The essen ial ques ions in building good long- e m and sus ainable ela ionships
wi h buye s and supplie s a e: “Wha is he eason? Wha is he goal o he en e p ise
when building hese ela ionships?” The manage s answe ed hese ques ions, and he
main easons why he en e p ises c ea e alue o hei business pa ne s a e as ollows:
Figu e 3 shows ha he en e p ise’s p ima y goal when building a sus ainable
ela ionship wi h business pa ne s (supplie s and buye s) is effec i e mu ual
communica ion. This means quick eedbacks ega ding he o de s, sugges ions o
imp o emen s, and quick esolu ions o p oblems and complain s. This was indica ed by
17 ou o 20 manage s (85%). O he goals ha he manage s s a ed we e:
• Long- e m coope a ion (12; 60%)
• Be e p ice offe s (11; 55%)
• The loyal y o supplie s and buye s (9; 45%)
• Mo e a o able business condi ions (9; 45%)
Figu e 2. Key sec ions o manage ial ac i i ies in he alue c ea ion p ocess o supplie s and buye s
as majo en e p ises’ s akeholde s.
The essen ial ques ions in building good long- e m and sus ainable ela ionships wi h
buye s and supplie s a e: “Wha is he eason? Wha is he goal o he en e p ise when
building hese ela ionships?” The manage s answe ed hese ques ions, and he main
easons why he en e p ises c ea e alue o hei business pa ne s a e as ollows:
Figu e 3shows ha he en e p ise’s p ima y goal when building a sus ainable ela-
ionship wi h business pa ne s (supplie s and buye s) is e ec i e mu ual communica ion.
This means quick eedbacks ega ding he o de s, sugges ions o imp o emen s, and quick
esolu ions o p oblems and complain s. This was indica ed by 17 ou o 20 manage s (85%).
O he goals ha he manage s s a ed we e:
•Long- e m coope a ion (12; 60%)
•Be e p ice o e s (11; 55%)
•The loyal y o supplie s and buye s (9; 45%)
•Mo e a o able business condi ions (9; 45%)
Adm. Sci. 2024, 14, x FOR PEER REVIEW 9 o 27
O he goals men ioned by he manage s we e inc easing he en e p ise’s
compe i i eness and epu a ion and mee ing he deadlines.
Figu e 3. The goal o he en e p ise when building a ela ionship wi h supplie s and buye s.
4.2. Di e si ica ion o Supplie s and Buye s (Sec ion 1)
The i s sec ion examines he s a egies en e p ises use o di e si y hei supplie s
and buye s. The sec ion begins wi h a heo e ical o e iew o di e si ica ion echniques,
ollowed by a de ailed p esen a ion o in e iew indings. The goal is o unde s and how
di e si ica ion con ibu es o alue c ea ion and o iden i y bes p ac ices and common
challenges.
Supplie Rela ionship Managemen (SRM) add esses he en e p ise-supplie
dynamic, emphasizing he impo ance o building s ong, long- e m sus ainable
ela ionships and de ining he s eps o doing so. Resea ch by P okope s and Tabibzadeh
(2006), S a e o Flux (2019, 2023), and PWC (2013, 2019) unde sco es he c i ical ole o
supplie ela ionships, wi h PWC pa icula ly highligh ing he need o segmen supplie s
o ocus on key ones. SRM ac i i ies a e s uc u ed in o de ined s eps (T an 2015),
mi o ing alue c ea ion p ocesses o supplie s and buye s as key s akeholde s.
In alue c ea ion o supplie s and buye s, manage ial ac i i ies ini ially ocus on
di e si ying and iden i ying key, ha d- o- eplace s akeholde s. Figu e 4 illus a es he i s
s ep, which in ol es s akeholde di e si ica ion o ecognize he alue c ea ed o hem.
This p ocess ensu es he selec ion o c ucial buye s and supplie s, os e ing long- e m
sus ainable ela ionships cha ac e ized by loyal y, openness, and ongoing coope a ion.
Despi e many en e p ises neglec ing sus ainabili y (Janoso a 2019), main aining
sus ainable ela ionships is i al o alue c ea ion. P ope selec ion o buye s and
supplie s minimizes he was e o inancial, capaci y, ime, and human esou ces.
P io i izing key s akeholde s ensu es dedica ed effo s and esou ces o secu e hei
loyal y and sus ain long- e m, p oduc i e ela ionships.
Figu e 4. Di e si ica ion o selec ed s akeholde s in he alue c ea ion p ocess.
Figu e 3. The goal o he en e p ise when building a ela ionship wi h supplie s and buye s.
O he goals men ioned by he manage s we e inc easing he en e p ise’s compe i i e-
ness and epu a ion and mee ing he deadlines.
Adm. Sci. 2024,14, 186 15 o 25
Adm. Sci. 2024, 14, x FOR PEER REVIEW 15 o 27
WHERE—Whe e does he
p oblem a ise?
The p oblem a ises in he
inaliza ion p ocess when he
p oduc ion has no componen s.
Buye ’s need o deli e y o
deli e ies
HOW—How could he
en e p ise sol e his issue?
The en e p ise can educe he
numbe o deli e y days; he
en e p ise can p omise
ex ao dina y deli e ies i
necessa y.
The en e p ise is looking o
ways o mee he buye ’s
needs ega ding he
deli e ies, hus c ea ing
alue o he buye .
S eco a e al. (2012) highligh pi alls in he decision-making p ocess, such as he isk
o being o e whelmed by unnecessa y in o ma ion o o e ly na owing he p oblem’s
scope. Taymou i e al. (2021) discuss a ian selec ion echniques ha in ol e choosing
op ions based on diffe ing cha ac e is ics.
Figu e 10 illus a es he p ocedu e o inding alue-c ea ion op ions. Once he
en e p ise iden i ies iable op ions wi hin i s capaci y and inancial cons ain s, i can
p oceed o he nex s ep: pe cep ion and eedback. I no sui able op ions a e ound,
manage ial ac i i ies should ocus on iden i ying new alue ele an o supplie s o
buye s.
Figu e 10. De e mina ion o alue c ea ion a ian s.
Figu e 11 shows he alue c ea ion indica o s ha he en e p ises p o ide o hei
supplie s he mos .
Figu e 11. The mos p o ided alue c ea ion indica o s o supplie s.
Ou o 20 manage s, 17 (85%) s a ed ha hey ensu e adhe ence o business
condi ions o supplie s, 14 (70%) manage s p io i ize paymen o in oices by he due
da e, and 13 (65%) manage s emphasize egula i y o o de s. Manage s also add essed he
alue c ea ion indica o s hey p o ide o buye s. Figu e 12 shows he mos common alue
c ea ion indica o s p o ided o buye s.
Figu e 11. The mos p o ided alue c ea ion indica o s o supplie s.
Adm. Sci. 2024, 14, x FOR PEER REVIEW 16 o 27
Figu e 12. The mos p o ided alue c ea ion indica o s o buye s.
Ou o 20 manage s, 13 (65%) epo ed p o iding buye s wi h addi ional se ices
(such as epai s), 12 (60%) manage s offe discoun s, anni e sa y p omo ions, and
seasonal deals, and 10 (50%) manage s ensu e good complain handling condi ions o
buye s.
All he alue-c ea ion indica o s o supplie s and buye s we e es ablished du ing
he p io esea ch ocusing on alue-c ea ion indica o s o s akeholde s (Kusni o a and
Du iso a 2021c; Kusni o a and Du iso a 2021a; Kusni o a e al. 2023).
4.6. Pe cep ion and Feedback (Sec ion 5)
Ga he ing and in e p e ing eedback om supplie s and buye s is essen ial o
e ining alue-c ea ion p ocesses. This sec ion examines heo e ical pe spec i es on
eedback mechanisms. The discussion ocuses on how en e p ises collec , analyze, and
u ilize eedback o enhance hei alue p oposi ions.
Pe cep ion in ol es ecei ing, p ocessing, and modi ying in o ma ion and is closely
ela ed o a i udes and a en ion (Demu h 2013). In he pe cep ion and eedback sec ion,
manage ial ac i i ies should ocus on unde s anding supplie s’ and buye s’ pe cep ions
o alue and ob aining eedback. This can be achie ed h ough:
• Communica ion wi h supplie s/buye s
• Ho line o sales depa men
• Complain s and in o ma ion sys ems
• Sa is ac ion su eys
By analyzing eedback om hese sou ces, he en e p ise can assess alue pe cep ion
based on posi i e o nega i e eac ions o p esen ed op ions (Li e al. 2021). Sa is ac ion
su eys e eal pe cep ions o c ea ed alue and indica e new needs. Unde s anding alue
pe cep ion affec s ela ionship quali y and in en ions o co-c ea ing alue (Nadeem e al.
2020).
By analyzing eedback om hese sou ces, he en e p ise can assess alue pe cep ion
based on posi i e o nega i e eac ions o p esen ed op ions. Sa is ac ion su eys e eal
pe cep ions o c ea ed alue and indica e new needs. Unde s anding alue pe cep ion
affec s ela ionship quali y and in en ions o co-c ea ing alue (Nadeem e al. 2020).
Figu e 13 illus a es he pe cep ion and eedback sec ion. I he supplie o buye
pe cei es he c ea ed alue and p o ides eedback, he en e p ise can p oceed o analyze
he esul s. Howe e , i he alue is no pe cei ed, manage ial ac i i ies should ocus on:
1. Iden i ying he p oblem
2. Re u ning o he ele an s ep based on he issue:
o Secu ing he communica ion channel
o Value iden i ica ion
o De e mina ion o alue c ea ion a ian s
This p ocess ensu es ha he en e p ise add esses he issue effec i ely be o e
ad ancing u he .
Figu e 12. The mos p o ided alue c ea ion indica o s o buye s.
All he alue-c ea ion indica o s o supplie s and buye s we e es ablished du ing
he p io esea ch ocusing on alue-c ea ion indica o s o s akeholde s (Kusni o a and
Du iso a 2021a,2021c;Kusni o a e al. 2023).
4.6. Pe cep ion and Feedback (Sec ion 5)
Ga he ing and in e p e ing eedback om supplie s and buye s is essen ial o e ining
alue-c ea ion p ocesses. This sec ion examines heo e ical pe spec i es on eedback mech-
anisms. The discussion ocuses on how en e p ises collec , analyze, and u ilize eedback o
enhance hei alue p oposi ions.
Pe cep ion in ol es ecei ing, p ocessing, and modi ying in o ma ion and is closely
ela ed o a i udes and a en ion (Demu h 2013). In he pe cep ion and eedback sec ion,
manage ial ac i i ies should ocus on unde s anding supplie s’ and buye s’ pe cep ions o
alue and ob aining eedback. This can be achie ed h ough:
•Communica ion wi h supplie s/buye s
•Ho line o sales depa men
•Complain s and in o ma ion sys ems
•Sa is ac ion su eys
By analyzing eedback om hese sou ces, he en e p ise can assess alue pe cep-
ion based on posi i e o nega i e eac ions o p esen ed op ions (Li e al. 2021). Sa -
is ac ion su eys e eal pe cep ions o c ea ed alue and indica e new needs. Unde -
s anding alue pe cep ion a ec s ela ionship quali y and in en ions o co-c ea ing alue
(Nadeem e al. 2020).
By analyzing eedback om hese sou ces, he en e p ise can assess alue pe cep ion
based on posi i e o nega i e eac ions o p esen ed op ions. Sa is ac ion su eys e eal
pe cep ions o c ea ed alue and indica e new needs. Unde s anding alue pe cep ion
a ec s ela ionship quali y and in en ions o co-c ea ing alue (Nadeem e al. 2020).
Figu e 13 illus a es he pe cep ion and eedback sec ion. I he supplie o buye
pe cei es he c ea ed alue and p o ides eedback, he en e p ise can p oceed o analyze
he esul s. Howe e , i he alue is no pe cei ed, manage ial ac i i ies should ocus on:
1. Iden i ying he p oblem
2. Re u ning o he ele an s ep based on he issue:
◦Secu ing he communica ion channel
◦Value iden i ica ion
◦De e mina ion o alue c ea ion a ian s
Adm. Sci. 2024,14, 186 16 o 25
Adm. Sci. 2024, 14, x FOR PEER REVIEW 17 o 27
Figu e 13. Pe cep ion and eedback in he alue c ea ion p ocess.
4.7. E alua ion o Achie ed Resul s (Sec ion 6)
E alua ing he ou comes o alue-c ea ion ac i i ies is necessa y o con inuous
imp o emen . This sec ion p o ides a heo e ical amewo k o he e alua ion o
achie ed esul s.
Analysis o he achie ed esul s should be pe o med con inuously, as he impac o
manage ial ac i i ies and decisions may no be immedia e. A modi ied s akeholde
engagemen assessmen ma ix can be used o ongoing moni o ing o goal achie emen .
As shown in Figu e 14, i he en e p ise ails o mee he objec i e, i mus iden i y and
add ess he e o be o e p oceeding. Business analysis in ol es me hods and p ocedu es
ha gene a e alue h ough da a o indi iduals, en e p ises, and o ganiza ions (K aus e
al. 2020). K aus e al. also desc ibe p ocedu es o u ilizing da a analysis o e alua e an
en e p ise’s abili y o c ea e alue and i s impac on pe o mance (Sulli an e al. 2012).
Figu e 14. Analysis o achie ed esul s in he alue c ea ion p ocess.
5. Discussion and Con ibu ion
Socie y is con inually e ol ing, necessi a ing en e p ises o espond lexibly o
changes. Goals and p e e ences shi due o ex e nal condi ions and in e nal demands. To
achie e sus ainable business ela ionships, educe acquisi ion cos s, and gain a
compe i i e edge, en e p ises mus ocus on effec i e communica ion, s ong
ela ionships, loyal y, and s akeholde sa is ac ion. Compe i i eness is no solely abou
maximizing p oduc o se ice ou pu bu also abou secu ing s abili y h ough eliable
supplie s and buye s. Manage s play a c ucial ole in c ea ing alue and shaping he
en e p ise’s u u e.
Based on he esea ch ou lined in he “Resul s” sec ion, he alue c ea ion p ocess o
s akeholde s (supplie s and buye s) comp ises six key ac i i ies:
1. Di e si ica ion o supplie s and buye s (see Sec ion 4.2).
2. Secu ing he communica ion channel (see Sec ion 4.3).
3. Value iden i ica ion (see Sec ion 4.4).
4. De e mina ion o alue c ea ion a ian s (see Sec ion 4.5).
5. Pe cep ion and eedback (see Sec ion 4.6).
Figu e 13. Pe cep ion and eedback in he alue c ea ion p ocess.
This p ocess ensu es ha he en e p ise add esses he issue e ec i ely be o e ad anc-
ing u he .
4.7. E alua ion o Achie ed Resul s (Sec ion 6)
E alua ing he ou comes o alue-c ea ion ac i i ies is necessa y o con inuous imp o e-
men . This sec ion p o ides a heo e ical amewo k o he e alua ion o achie ed esul s.
Analysis o he achie ed esul s should be pe o med con inuously, as he impac
o manage ial ac i i ies and decisions may no be immedia e. A modi ied s akeholde
engagemen assessmen ma ix can be used o ongoing moni o ing o goal achie emen .
As shown in Figu e 14, i he en e p ise ails o mee he objec i e, i mus iden i y and
add ess he e o be o e p oceeding. Business analysis in ol es me hods and p ocedu es
ha gene a e alue h ough da a o indi iduals, en e p ises, and o ganiza ions (K aus
e al. 2020). K aus e al. also desc ibe p ocedu es o u ilizing da a analysis o e alua e an
en e p ise’s abili y o c ea e alue and i s impac on pe o mance (Sulli an e al. 2012).
Adm. Sci. 2024, 14, x FOR PEER REVIEW 17 o 27
Figu e 13. Pe cep ion and eedback in he alue c ea ion p ocess.
4.7. E alua ion o Achie ed Resul s (Sec ion 6)
E alua ing he ou comes o alue-c ea ion ac i i ies is necessa y o con inuous
imp o emen . This sec ion p o ides a heo e ical amewo k o he e alua ion o
achie ed esul s.
Analysis o he achie ed esul s should be pe o med con inuously, as he impac o
manage ial ac i i ies and decisions may no be immedia e. A modi ied s akeholde
engagemen assessmen ma ix can be used o ongoing moni o ing o goal achie emen .
As shown in Figu e 14, i he en e p ise ails o mee he objec i e, i mus iden i y and
add ess he e o be o e p oceeding. Business analysis in ol es me hods and p ocedu es
ha gene a e alue h ough da a o indi iduals, en e p ises, and o ganiza ions (K aus e
al. 2020). K aus e al. also desc ibe p ocedu es o u ilizing da a analysis o e alua e an
en e p ise’s abili y o c ea e alue and i s impac on pe o mance (Sulli an e al. 2012).
Figu e 14. Analysis o achie ed esul s in he alue c ea ion p ocess.
5. Discussion and Con ibu ion
Socie y is con inually e ol ing, necessi a ing en e p ises o espond lexibly o
changes. Goals and p e e ences shi due o ex e nal condi ions and in e nal demands. To
achie e sus ainable business ela ionships, educe acquisi ion cos s, and gain a
compe i i e edge, en e p ises mus ocus on effec i e communica ion, s ong
ela ionships, loyal y, and s akeholde sa is ac ion. Compe i i eness is no solely abou
maximizing p oduc o se ice ou pu bu also abou secu ing s abili y h ough eliable
supplie s and buye s. Manage s play a c ucial ole in c ea ing alue and shaping he
en e p ise’s u u e.
Based on he esea ch ou lined in he “Resul s” sec ion, he alue c ea ion p ocess o
s akeholde s (supplie s and buye s) comp ises six key ac i i ies:
1. Di e si ica ion o supplie s and buye s (see Sec ion 4.2).
2. Secu ing he communica ion channel (see Sec ion 4.3).
3. Value iden i ica ion (see Sec ion 4.4).
4. De e mina ion o alue c ea ion a ian s (see Sec ion 4.5).
5. Pe cep ion and eedback (see Sec ion 4.6).
Figu e 14. Analysis o achie ed esul s in he alue c ea ion p ocess.
5. Discussion and Con ibu ion
Socie y is con inually e ol ing, necessi a ing en e p ises o espond lexibly o changes.
Goals and p e e ences shi due o ex e nal condi ions and in e nal demands. To achie e
sus ainable business ela ionships, educe acquisi ion cos s, and gain a compe i i e edge,
en e p ises mus ocus on e ec i e communica ion, s ong ela ionships, loyal y, and
s akeholde sa is ac ion. Compe i i eness is no solely abou maximizing p oduc o se ice
ou pu bu also abou secu ing s abili y h ough eliable supplie s and buye s. Manage s
play a c ucial ole in c ea ing alue and shaping he en e p ise’s u u e.
Based on he esea ch ou lined in he “Resul s” sec ion, he alue c ea ion p ocess o
s akeholde s (supplie s and buye s) comp ises six key ac i i ies:
1. Di e si ica ion o supplie s and buye s (see Sec ion 4.2).
2. Secu ing he communica ion channel (see Sec ion 4.3).
3. Value iden i ica ion (see Sec ion 4.4).
4. De e mina ion o alue c ea ion a ian s (see Sec ion 4.5).
5. Pe cep ion and eedback (see Sec ion 4.6).
Adm. Sci. 2024,14, 186 17 o 25
6. E alua ion o achie ed esul s (see Sec ion 4.7).
These ac i i ies we e explained o manage s du ing in e iews, enabling hem o
add ess he esea ch ques ions posed a he beginning o he pape . The answe s o hese
ques ions a e as ollows:
Q1: Do en e p ises engage in manage ial ac i i ies and adhe e o he sec ions o he alue c ea ion
p ocess as de ined in he pape ?
Based on manage s’ esponses, i is e iden ha hey some imes engage in alue
c ea ion p ocesses in ui i ely, wi hou ull awa eness o hei me hods. Many manage s
disco e ed e ec i e ways o ob ain in o ma ion om business pa ne s and iden i y key
ques ions. While hey ecognized he impo ance o c ea ing and main aining sus ainable
ela ionships, hey we e unsu e how o ini ia e hese p ocesses.
Manage s iden i ied he sec ions hey ollow in he alue c ea ion p ocess o supplie s
and buye s. Figu e 15 shows ha he mos equen ly pe o med manage ial ac i i ies
a e di e si ica ion o supplie s and buye s, secu ing he communica ion channel, and
pe cep ion and eedback. Speci ically, 16 ou o 20 manage s (80%) s a ed ha hey ac i ely
di e si y hei business pa ne s, highligh ing di e si ica ion as he c ucial i s s ep in he
alue c ea ion p ocess.
Adm. Sci. 2024, 14, x FOR PEER REVIEW 18 o 27
6. E alua ion o achie ed esul s (see Sec ion 4.7).
These ac i i ies we e explained o manage s du ing in e iews, enabling hem o
add ess he esea ch ques ions posed a he beginning o he pape . The answe s o hese
ques ions a e as ollows:
Q1: Do en e p ises engage in manage ial ac i i ies and adhe e o he sec ions o he alue c ea ion
p ocess as de ined in he pape ?
Based on manage s’ esponses, i is e iden ha hey some imes engage in alue
c ea ion p ocesses in ui i ely, wi hou ull awa eness o hei me hods. Many manage s
disco e ed effec i e ways o ob ain in o ma ion om business pa ne s and iden i y key
ques ions. While hey ecognized he impo ance o c ea ing and main aining sus ainable
ela ionships, hey we e unsu e how o ini ia e hese p ocesses.
Manage s iden i ied he sec ions hey ollow in he alue c ea ion p ocess o
supplie s and buye s. Figu e 15 shows ha he mos equen ly pe o med manage ial
ac i i ies a e di e si ica ion o supplie s and buye s, secu ing he communica ion channel,
and pe cep ion and eedback. Speci ically, 16 ou o 20 manage s (80%) s a ed ha hey
ac i ely di e si y hei business pa ne s, highligh ing di e si ica ion as he c ucial i s
s ep in he alue c ea ion p ocess.
Figu e 15. Pe cen age o manage s who ollow he sec ions o he alue c ea ion p ocess.
Howe e , only 50% (10 ou o 20) o manage s ocus on alue iden i ica ion, and jus
45% (9 ou o 20) on de e mining alue c ea ion a ian s. To c ea e meaning ul alue o
business pa ne s, manage s need o emphasize hese ac i i ies o ensu e ha he alue
p o ided aligns wi h pa ne s’ needs and p e e ences.
The indings o his s udy align wi h exis ing li e a u e ha unde sco es he
impo ance o di e si ica ion in s akeholde managemen . Fo ins ance, s a egic
di e si ica ion can enhance compe i i e ad an age by educing isks associa ed wi h
dependency on a limi ed numbe o supplie s o buye s (The ening e al. 2022). Effec i e
communica ion channels a e also c i ical o main aining s ong s akeholde ela ionships
(Han e al. 2022; Limani e al. 2024; Shinoha a e al. 2024).
Addi ionally, Kim e al. (2018) highligh s ha di e si ica ion and inno a i e
communica ion s a egies can c ea e new ma ke oppo uni ies, emphasizing he alue o
hese manage ial ac i i ies. Leu e al. (2021) a gue ha educing ansac ion cos s h ough
a di e si ied base o supplie s and buye s can lead o mo e efficien and sus ainable
business ope a ions.
These wo sec ions— Di e si ica ion o supplie s and buye s (16 ou o 20) and
secu ing he communica ion channel (14 ou o 20)—we e iden i ied by he majo i y o
manage s as in eg al o hei alue c ea ion p ocess o supplie s and buye s.
Q2: Which manage ial ac i i ies (sec ions) a e conside ed mos impo an by manage s?
Figu e 15. Pe cen age o manage s who ollow he sec ions o he alue c ea ion p ocess.
Howe e , only 50% (10 ou o 20) o manage s ocus on alue iden i ica ion, and jus
45% (9 ou o 20) on de e mining alue c ea ion a ian s. To c ea e meaning ul alue o
business pa ne s, manage s need o emphasize hese ac i i ies o ensu e ha he alue
p o ided aligns wi h pa ne s’ needs and p e e ences.
The indings o his s udy align wi h exis ing li e a u e ha unde sco es he impo ance
o di e si ica ion in s akeholde managemen . Fo ins ance, s a egic di e si ica ion can
enhance compe i i e ad an age by educing isks associa ed wi h dependency on a limi ed
numbe o supplie s o buye s (The ening e al. 2022). E ec i e communica ion channels
a e also c i ical o main aining s ong s akeholde ela ionships (Han e al. 2022;Limani
e al. 2024;Shinoha a e al. 2024).
Addi ionally, Kim e al. (2018) highligh s ha di e si ica ion and inno a i e commu-
nica ion s a egies can c ea e new ma ke oppo uni ies, emphasizing he alue o hese
manage ial ac i i ies. Leu e al. (2021) a gue ha educing ansac ion cos s h ough a
di e si ied base o supplie s and buye s can lead o mo e e icien and sus ainable busi-
ness ope a ions.
These wo sec ions— Di e si ica ion o supplie s and buye s (16 ou o 20) and secu ing
he communica ion channel (14 ou o 20)—we e iden i ied by he majo i y o manage s as
in eg al o hei alue c ea ion p ocess o supplie s and buye s.
Q2: Which manage ial ac i i ies (sec ions) a e conside ed mos impo an by manage s?
A e explaining he p ocess, manage ial ac i i ies, and sec ions, he manage s we e
able o iden i y he sec ions ha a e cu en ly mos impo an o hem. They exp essed he
impo ance on a scale om 1 o 5 (1—no impo ance, 2—mo e unimpo an han impo an ,
3—neu al, 4—mo e impo an han unimpo an , 5—impo an ).
Adm. Sci. 2024,14, 186 18 o 25
Figu e 16 illus a es he impo ance o manage ial ac i i ies as a ed by manage s.
Value iden i ica ion is he mos p io i ized ac i i y, wi h 80% (16 ou o 20) o manage s
conside ing i mo e impo an han unimpo an o highly impo an . O he signi ican
ac i i ies include:
•Di e si ica ion o supplie s and buye s (14; 70%)
•Secu ing he communica ion channel (14; 70%)
•De e mina ion o alue c ea ion a ian s (13; 65%)
•Pe cep ion and eedback (13; 65%)
•E alua ion o achie ed esul s (11; 55%)
Adm. Sci. 2024, 14, x FOR PEER REVIEW 19 o 27
A e explaining he p ocess, manage ial ac i i ies, and sec ions, he manage s we e
able o iden i y he sec ions ha a e cu en ly mos impo an o hem. They exp essed he
impo ance on a scale om 1 o 5 (1—no impo ance, 2—mo e unimpo an han
impo an , 3—neu al, 4—mo e impo an han unimpo an , 5—impo an ).
Figu e 16 illus a es he impo ance o manage ial ac i i ies as a ed by manage s.
Value iden i ica ion is he mos p io i ized ac i i y, wi h 80% (16 ou o 20) o manage s
conside ing i mo e impo an han unimpo an o highly impo an . O he signi ican
ac i i ies include:
• Di e si ica ion o supplie s and buye s (14; 70%)
• Secu ing he communica ion channel (14; 70%)
• De e mina ion o alue c ea ion a ian s (13; 65%)
• Pe cep ion and eedback (13; 65%)
• E alua ion o achie ed esul s (11; 55%)
Figu e 16. The impo ance o he sec ions o manage ial ac i i ies.
The emphasis on alue iden i ica ion aligns wi h esea ch highligh ing he
impo ance o unde s anding s akeholde needs in B2B ela ionships (Bu e al. 2023).
This suppo s he Resou ce-Based View (RBV) o he i m, which asse s ha unique
esou ces and capabili ies—such as he abili y o accu a ely iden i y and mee cus ome
needs—a e i al o achie ing a compe i i e ad an age (Ba ney e al. 2021; McGahan 2021;
Hel a e al. 2023).
The signi icance o communica ion channels co esponds wi h he Commi men -
T us Theo y, which a gues ha effec i e communica ion is essen ial o building us
and commi men in business ela ionships (A hu e al. 2024). Mo eo e , s udies by Allen
e al. (2021) and Albé ico and Joaquim (2023) demons a e ha s ong communica ion
os e s long- e m ela ionship building and loyal y.
The ela i ely lowe emphasis on de e mining alue c ea ion a ian s and e alua ing
achie ed esul s indica es po en ial a eas o manage ial imp o emen . Resea ch by
Oli ei a e al. (2021) sugges s ha ools like balanced sco eca ds can enhance pe o mance
acking and e alua ion agains alue c ea ion objec i es. Addi ionally, Chowdhu y e al.
(2020) emphasize he ole o dynamic capabili ies, such as he abili y o econ igu e
esou ces in esponse o changing ma ke demands, which could be be e add essed
h ough mo e igo ous e alua ion p ocesses.
The main con ibu ion o his pape is he de elopmen o a cohesi e map o
manage ial ac i i ies ha guides he alue c ea ion p ocess o s akeholde s. This s a egic
amewo k in eg a es essen ial ac i i ies—such as he di e si ica ion o supplie s and
buye s, secu ing he communica ion channel, alue iden i ica ion, de e mina ion o alue
c ea ion a ian s, pe cep ion and eedback, and e alua ion o achie ed esul s—in o a
comp ehensi e model. By u ilizing his map, en e p ises can be e s uc u e hei alue
Figu e 16. The impo ance o he sec ions o manage ial ac i i ies.
The emphasis on alue iden i ica ion aligns wi h esea ch highligh ing he impo ance
o unde s anding s akeholde needs in B2B ela ionships (Bu e al. 2023). This suppo s
he Resou ce-Based View (RBV) o he i m, which asse s ha unique esou ces and
capabili ies—such as he abili y o accu a ely iden i y and mee cus ome needs—a e i al
o achie ing a compe i i e ad an age (Ba ney e al. 2021;McGahan 2021;
Hel a e al. 2023).
The signi icance o communica ion channels co esponds wi h he Commi men -T us
Theo y, which a gues ha e ec i e communica ion is essen ial o building us and
commi men in business ela ionships (A hu e al. 2024). Mo eo e , s udies by Allen e al.
(2021) and Albé ico and Joaquim (2023) demons a e ha s ong communica ion os e s
long- e m ela ionship building and loyal y.
The ela i ely lowe emphasis on de e mining alue c ea ion a ian s and e alua -
ing achie ed esul s indica es po en ial a eas o manage ial imp o emen . Resea ch by
Oli ei a e al. (2021) sugges s ha ools like balanced sco eca ds can enhance pe o mance
acking and e alua ion agains alue c ea ion objec i es. Addi ionally, Chowdhu y e al.
(2020) emphasize he ole o dynamic capabili ies, such as he abili y o econ igu e e-
sou ces in esponse o changing ma ke demands, which could be be e add essed h ough
mo e igo ous e alua ion p ocesses.
The main con ibu ion o his pape is he de elopmen o a cohesi e map o man-
age ial ac i i ies ha guides he alue c ea ion p ocess o s akeholde s. This s a egic
amewo k in eg a es essen ial ac i i ies—such as he di e si ica ion o supplie s and
buye s, secu ing he communica ion channel, alue iden i ica ion, de e mina ion o alue
c ea ion a ian s, pe cep ion and eedback, and e alua ion o achie ed esul s—in o a com-
p ehensi e model. By u ilizing his map, en e p ises can be e s uc u e hei alue c ea ion
e o s, enhance hei business ela ionships, and achie e g ea e ope a ional success.
Figu e 17 illus a es he comp ehensi e map o all sec ions o manage ial ac i i ies
de eloped in he “Resul s” sec ion o he pape . This map encapsula es he s ep-by-s ep
p ocess ega ding manage ial ac i i ies in he alue-c ea ion p ocess o supplie s and
buye s. The map s a s wi h he di e si ica ion o supplie s and buye s, emphasizing he
impo ance o selec ing and segmen ing key s akeholde s. This is ollowed by secu ing he
communica ion channel, which highligh s he necessi y o main aining e ec i e communi-
Adm. Sci. 2024,14, 186 19 o 25
ca ion wi h s akeholde s o ensu e seamless ope a ions and ela ionship-building. Nex ,
he p ocess in ol es alue iden i ica ion, ocusing on unde s anding he speci ic needs and
p e e ences o supplie s and buye s o c ea e a ge ed alue p oposi ions. De e mina ion
o alue c ea ion a ian s comes he ea e , encou aging manage s o explo e di e en
me hods and echniques o deli e ing alue. The pe cep ion and eedback sec ion unde -
sco es he impo ance o ga he ing and analyzing eedback om s akeholde s o assess he
e ec i eness o alue c ea ion e o s. Finally, he e alua ion o achie ed esul s emphasizes
he need o con inuous assessmen and e inemen o s a egies o ensu e ha he desi ed
ou comes a e me and sus ained o e ime.
Adm. Sci. 2024, 14, x FOR PEER REVIEW 21 o 27
Figu e 17. A comple e map o manage ial ac i i ies.
6. Conclusions
This pape de ines echniques and p ocedu es o each manage ial ac i i y o achie e
p ede e mined goals, de ailing each s ep and i s in e connec ions. The sec ions co e ed
a e:
1. Di e si ica ion o Supplie s and Buye s: Emphasizes ocusing on key pa ne s and
segmen ing hem using a modi ied Powe -In e es Ma ix.
2. Secu ing he Communica ion Channel: Highligh s he impo ance o effec i e
communica ion wi h buye s and supplie s.
3. Value Iden i ica ion: Explains how o iden i y needs, p e e ences, and goals o c ea e
alue o supplie s and buye s.
4. De e mina ion o Value C ea ion Va ian s: Summa izes echniques like he 5W’s and
H o gene a ing and e alua ing alue c ea ion op ions.
Figu e 17. A comple e map o manage ial ac i i ies.
6. Conclusions
This pape de ines echniques and p ocedu es o each manage ial ac i i y o achie e
p ede e mined goals, de ailing each s ep and i s in e connec ions. The sec ions co e ed a e:
1.
Di e si ica ion o Supplie s and Buye s: Emphasizes ocusing on key pa ne s and
segmen ing hem using a modi ied Powe -In e es Ma ix.
Adm. Sci. 2024,14, 186 20 o 25
2.
Secu ing he Communica ion Channel: Highligh s he impo ance o e ec i e com-
munica ion wi h buye s and supplie s.
3.
Value Iden i ica ion: Explains how o iden i y needs, p e e ences, and goals o c ea e
alue o supplie s and buye s.
4.
De e mina ion o Value C ea ion Va ian s: Summa izes echniques like he 5W’s and
H o gene a ing and e alua ing alue c ea ion op ions.
5.
Pe cep ion and Feedback: Desc ibes me hods o ga he ing eedback and assessing
alue om he pe spec i es o buye s and supplie s.
6.
E alua ion o Achie ed Resul s: Focuses on e alua ing ou comes and e ining s a e-
gies based on whe he goals a e me .
In conclusion, he cohesi e map o manage ial ac i i ies o he alue c ea ion p ocess
p o ides a s a egic amewo k ha enhances cla i y and e iciency o manage s. The
p oposed amewo k p o ides ac ionable ools o manage s o e ine hei alue c ea ion
p ocesses. Implemen ing his s uc u ed app oach helps add ess key a eas o imp o e-
men . By es ablishing consis en p ocesses and aligning ac i i ies wi h s a egic goals,
manage s can educe a iabili y and enhance ope a ional e iciency. E ec i e communica-
ion s a egies, de eloped h ough his amewo k, ensu e ha eedback om s akeholde s
is accu a ely cap u ed, leading o be e ela ionship managemen . Addi ionally, sys ema ic
alue iden i ica ion enables manage s o ailo hei o e ings o mee s akeholde needs
mo e e ec i ely, he eby inc easing sa is ac ion.
The amewo k also emphasizes he impo ance o ongoing e alua ion, which o e s
aluable insigh s o e ining s a egies and add essing gaps in implemen a ion. By ap-
plying hese p inciples, manage s can enhance hei s a egic app oach o alue c ea ion,
esul ing in s onge s akeholde ela ionships, educed acquisi ion cos s, and a heigh ened
compe i i e ad an age.
Conclusion o Resea ch: This s udy add esses a signi ican gap in he li e a u e by
p o iding a s uc u ed and cohesi e amewo k o manage ial ac i i ies in he alue c e-
a ion p ocess o supplie s and buye s h ough a de ailed map o manage ial ac i i ies. By
in eg a ing heo e ical amewo ks wi h empi ical e idence om in e iews wi h manage s,
his esea ch ad ances he unde s anding o how hese ac i i ies con ibu e o alue c e-
a ion. The s udy’s sys ema ic app oach—encompassing a li e a u e e iew, con en analysis,
and in e iews—o e s new insigh s in o p e iously unde - esea ched a eas, enhancing
bo h he heo e ical ounda ion and p ac ical applica ion o manage ial s a egies.
Conclusion o P ac ice: The s uc u ed amewo k p esen ed se es as a p ac ical ool
o manage s seeking o op imize hei alue c ea ion p ocesses. I p o ides ac ionable
s a egies o di e si ying supplie s and buye s, secu ing communica ion channels, and
e alua ing ou comes. By adop ing his amewo k, manage s can align hei ac i i ies
mo e e ec i ely wi h s akeholde needs, imp o e ela ionship managemen , and gain a
compe i i e edge. The insigh s o e ed emphasize he impo ance o e ec i e eedback
mechanisms, clea alue iden i ica ion, and s a egic decision-making, all con ibu ing o
mo e sus ainable and e icien alue c ea ion.
Conclusion o Fu he Resea ch: Fu u e esea ch should build upon he indings by
examining he amewo k’s applica ion ac oss a ious indus ies o assess i s e ec i eness
and adap abili y. De ailed s udies explo ing sec o -speci ic implemen a ions and hei
impac on business pe o mance and s akeholde sa is ac ion will o e aluable insigh s.
Addi ionally, e ining me hodologies o e alua ing he success o hese ac i i ies and
explo ing ad anced echniques o measu ing alue c ea ion—bo h inancial and non-
inancial—will en ich he unde s anding o s akeholde managemen . Fu he in es iga ion
in o he impac o manage ial s a egies on en e p ise success will enhance he ele ance
and applicabili y o he p oposed amewo k in di e se con ex s.
Au ho Con ibu ions: Concep ualiza ion, D.K., O.B. and M.D.; me hodology, D.K. and M.D.; da a
collec ion, D.K.; alida ion, D.K. and O.B.; so wa e, D.K.; w i ing-o iginal d a p epa a ion D.K.,
M.D. and O.B.; w i ing- e iew and edi ing, D.K. and O.B.; isualiza ion, D.K.; supe ision, D.K.;
Adm. Sci. 2024,14, 186 21 o 25
p ojec adminis a ion, D.K., O.B. and M.D. All au ho s ha e ead and ag eed o he published e sion
o he manusc ip .
Funding: This pape has been w i en wi h he suppo o VEGA: 1/0273/22—Resou ce e iciency
and alue c ea ion o economic en i ies in he sha ing economy.
Ins i u ional Re iew Boa d S a emen : No applicable.
In o med Consen S a emen : In o med consen was ob ained om all subjec s in ol ed in he s udy.
Da a A ailabili y S a emen : Da a a e a ailable upon eques om esea che .
Con lic s o In e es : The au ho s decla e no con lic o in e es .
Appendix A. In e iew
Fo he pu pose o his pape , he in e iew ques ions ela ed o he su ey we e
selec ed and added o Appendix A.
Ques ions
Wha is he p ima y goal o you en e p ise in building ela ionships wi h supplie s and buye s?
Wha is he main c i e ion o di e si ying you supplie s and buye s?
On a scale om 1 o 10, how impo an is communica ion in he alue-c ea ion p ocess?
Wha me hods does you en e p ise use o ob ain necessa y in o ma ion om supplie s
and buye s?
Wha a e he mos commonly p o ided alue-c ea ion indica o s o supplie s in you en e p ise?
Wha a e he mos commonly p o ided alue-c ea ion indica o s o buye s in you en e p ise?
Does you en e p ise ollow he sec ions o he alue c ea ion p ocess as de ined in he pape ?
On a scale om 1 o 5, whe e 1 indica es “no impo ance” and 5 indica es “high impo ance”, how
would you a e he signi icance o each o he six sec ions o manage ial ac i i ies?
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