Intrinsic value of business-to-business relationships: An empirical taxonomy

This article presents a new taxonomy of business relationship value consisting of four dimensions: personal, financial, knowledge and strategic value that reach beyond the cost/benefit conception of value that dominates existing literature. This new taxonomy is useful for understanding how participants in business-to-business interactions assess relationship value. The taxonomy accounts for all textual references to relationship costs, benefits and intrinsic value in this case-based research. Perceptions of relationship value are not always organizationally consistent because relationships are social constructions. Instead, the evaluation of relationship value is ultimately in the historic and social context of the focal relationship, other relationships, and expectations of the future. ► This article studies actors' perspectives of different forms of relationship value. ► A new taxonomy of relationship value beyond cost/benefit if offered. ► Extended dimensions of value include personal, financial, knowledge and strategic. ► Relationship value is socially constructed in interaction. ► Value perceptions change as contextual conditions impact relationship dimensions.