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CHAPTER TWELVE. The Ties That Bind: Managing Supplier Relationships in the High-Growth Firm


Subject Business and Management » Entrepreneurship

DOI: 10.1111/b.9780631235118.2002.00014.x


Extract

Rapid globalization of markets and technology characterized the final years of the twentieth century. The impact not only changed the way companies compete, it has contributed to a new business millennium that is as dramatic in its sudden altering of the nature of global business as when Hans Solo's Millennium Falcon spaceship suddenly warped into light speed to flee pursuing storm troopers in the first edition of Star Wars. John Naisbett (1994) predicted it in his excellent book, Global Paradox when he said: The bigger the world economy, the more powerful its smaller players … The study of the smallest economic player, the entrepreneur, will merge with the study of how the big bang global economy works … As the world integrates economically, the component parts are becoming more numerous and smaller and more important. At once, the global economy is growing while the size of the parts are shrinking … The bigger and more open the world economy becomes, the more small and middle‐sized companies will dominate … and strategic alliances between larger suppliers and smaller, market focused firms allow partners to gain added muscle and speed in responding to customers creating competitive advantage without getting bigger. (1994: 12, 13, 16, 17, 19) The paradox he saw is the new, entrepreneurial millennium we have so quickly timewarped into. And one of the key areas that strategies ... log in or subscribe to read full text

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