The Role of Relational Capital in Anti-Crisis Measures Undertaken by Companies—Conclusions from a Case Study

Wałecka, Anna

doi:10.3390/su13020780

Cited by 12 publications

(16 citation statements)

References 44 publications

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“…Later, Morgan (1996) undertook more thorough investigations of relational capital, highlighting the fact that it is a non-market resource that resides outside the organization and has the potential to provide value to it. Relational capital is defined as the sum of relationships among a firm and its key business parties and is operationally defined via factors such as image, customer satisfaction and loyalty, connections with suppliers, environmental activities, commercial power, negotiation skills with financial enterprises, and so forth (Walecka, 2021). RC is described as the relationship a firm develops with its internal and external stakeholders, including its clients, suppliers, staff, and partners in strategic alliances (Ordonez de Pablos, 2003).…”

Section: Relational Capitalmentioning

confidence: 99%

“…The review of the literature conducted by Walecka (2021) on relational capital and crises in enterprises revealed that both of these topics have not been sufficiently investigated. It is important to emphasize that although there is a wealth of research in the field of crisis management regarding determinants of enterprises’ resilience to crises; it rarely emphasizes the significance of RC as a means in anti-crisis strategies ( Walecka, 2021 ).…”

Section: Introductionmentioning

confidence: 99%

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Does relational capital matter to food and beverage SMEs’ resilience? The mediating role of environmental scanning

YahiaMarzouk

Jin

2022

Front. Psychol.

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The COVID-19 pandemic’s characteristics, including how quickly it spread, and the emergence of new virus variations, raise serious questions about the pandemic’s potential repercussions and complications in the food and beverage industry, among other industries. The global COVID-19 pandemic highlights the pressing need to reconsider how we manufacture and market food and beverage goods. During the epidemic, SMEs must build organizational resilience (OR) in order to recover economically, socially, and communally. Relational capital (RC) is a crucial factor that can be deployed by SMEs to acquire the resources existing in the external networks to adapt to disturbances; however, the impact of RC on the resilience of Egyptian food and beverage SMEs is under-examined. Additionally, it is unclear how RC promotes organizational resilience. In this regard, we argue that social interactions and regular communication can let an SME and its business partners exchange information and best practices, thereby enabling it to immediately establish backup plans to deal with the disruption. In order to achieve our aim, we investigated how relational capital affected organizational resilience both directly and indirectly through environmental scanning, utilizing partial least squares structural equation modeling (PLS–SEM).The results from 217 Egyptian food and beverage SMEs demonstrate that relational capital directly and positively affected organizational resilience. Besides, the RC–OR relationship is partially mediated by environmental scanning. Our current study, therefore, adds to the extant literature through being one of the few studies to address the topics of relational capital and resilience altogether during crisis times within a developing country, an issue that has not been sufficiently investigated in exiting literature. Moreover, our current study is the first one to empirically investigate the role of relational capital in facilitating environmental scanning activities of SMEs to ultimately foster their resilience. Our results, thus, prove that a large amount of information relevant for recovery are inherent within an SME’s external relations network. We provide implications for theory and practice.

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Section: Relational Capitalmentioning

confidence: 99%

Section: Introductionmentioning

confidence: 99%

Does relational capital matter to food and beverage SMEs’ resilience? The mediating role of environmental scanning

YahiaMarzouk

Jin

2022

Front. Psychol.

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“…For the purposes of the paper, it has been assumed that relational capital is understood to mean all relations of a company with its environment , especially with customers, competitors, suppliers and strategic allies, financial institutions, local government, labour market institutions, and other stakeholders (Walecka and Zelek, 2017). It is the entirety of relations and ties between a company and its stakeholders (Walecka, 2020;2021).…”

Section: Customer Relations As An Element Of a Company's Relational Capitalmentioning

confidence: 99%

The Management of a Company’s Relational Capital as Part of Business Process

Wałecka¹

2021

ERSJ

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Purpose:The paper deals with the issue of a company's relational capital, especially customer relations. The aim of the paper is an attempt to answer the question concerning the role of developing the right type of relational capital with customers in organisations applying the Business Process Management (BPM) philosophy. Design/Methodology/Approach: The paper characterises business processes and the BPM concept, as well as describes models of process maturity. The section regarding a company's relational capital focuses on different types of relations with stakeholders and also asks about the essence of customer relations in organisations using BPM. The paper includes the results of quantitative research carried out among 600 companies of all sizes operating throughout Poland. The diagnostic survey method, which used the Paper and Pencil Interviewing (PAPI) technique, was chosen as the research method. The respondents were representatives of top management, including business owners. The research was complemented by a case study conducted in one of the organisations operating in the metal industry. It is a company that fully applies the BPM concept. Findings: The results of the quantitative research carried out indicate the existence of a relationship between the type of relations that a company has with its customers and the level of process maturity of the company. The types of customer relations are so important that the attention of companies using the BPM concept is focused on this kind of relationships. The results of the case study strongly confirm that the company analysed sees an important role of its relational capital (especially customer relations) in business process management. Every process implemented in the organisation is undertaken with the final customer in mind as well as his/her satisfaction with the product or service offered. Originality/value: The article discusses an innovative approach to the relational capital of enterprises from the point of view of the process maturity of companies.

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“…Several studies have documented the different approaches to the concept of "crisis management" within different sectors of the economy or particular business entities. In particular, evidence suggests that there is a link between the relational capital of the business entity and its susceptibility to crisis phenomena (Walecka 2021;Macerinskiene and Survilaite 2019). Some existing research recognizes the critical role played by crisis management within the different stages of company development, with consideration to a wide range of crisis-prevention methods and instruments (Meiste and Jakstiene 2015).…”

Section: Introduction and Review Of Literaturementioning

confidence: 99%

Crisis management in the energy sector in conditions of increasing epidemiological risks

Гернего¹,

Liakhova²,

Dyba³

2022

Polityka Energetyczna – Energy Policy Journal

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The main objective of this paper is (і) to determinate the energy sector as an important part of the resource economy in conditions of increasing epidemiological risks, and (іі) to present the potential of crisis management instruments to influence and strengthen the energy sector in Ukraine. This study uses expert assessments and monographic methods (for the assessment of crisis-management instruments) graphical methods Practical measures aimed at improving and reshaping the energy sector in Ukraine are defined by means of synthesis and economic analysis; statistical and interstate comparisons are used to analyze the Spanish experience of anti-crisis management measures in the post-COVID energy sector. The study of the world electricity distribution issue shows its direct connection with the energy production source, including renewable energy use, which increased under the impact of COVID-19. The analysis of developed crisis-management systems provides the basis to propose measures to improve and reshape the energy sector in Ukraine. Thus, the results section represents findings to strengthen the energy sector, supporting crisis-management-system development in Ukraine. 26The study is a part of a research cycle on energy-sector development, its management and financing. The proposed measures to improve and reshape the energy sector in Ukraine can be applied to specific energy-sector projects, the optimization of investments in the energy sector, as well as being used for the modeling of complex crisis-management systems of various spheres of the economy.

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The Role of Relational Capital in Anti-Crisis Measures Undertaken by Companies—Conclusions from a Case Study

Cited by 12 publications

References 44 publications

Does relational capital matter to food and beverage SMEs’ resilience? The mediating role of environmental scanning

Does relational capital matter to food and beverage SMEs’ resilience? The mediating role of environmental scanning

The Management of a Company’s Relational Capital as Part of Business Process

Crisis management in the energy sector in conditions of increasing epidemiological risks

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