Making Value Theory Actionable: Value Processes and their Management

Theory on the value of business relationships has considerably improved in the latest years, also thanks to cross-fertilization from psychology and sociology studies. Anyway, while the contribution to the academic field has been substantive, theory on the value of business relationships has not found a real and effective application to managerial practice. This paper is aimed at identifying which are the key factors managers face in dealing with relationship value and find out possible relational strategies value-based to manage them. The empirical research is based on a mixed method study, composed by a survey to 171 managers and 84 interviews. Evidences will show that, notwithstanding the complexity of the value concept in a relational and interactional contexts, specific relational strategies value-based are needed to manage value processes. These strategies can be effective only if they consider all value processes simultaneously. Managerial implications relate to the need for tools, software and CRM systems addressed to support managers in their decision making rather than providing disconnected pieces of information.