RELATIONSHIP MANAGEMENT IS A FORMAL APPROACH TO UNDERSTANDING, DEFINING AND SUPPORTING A BROAD SPECTRUM OF INTER-BUSINESS ACTIVITIES RELATED TO PROVIDING AND CONSUMING KNOWLEDGE AND SERVICES VIA NETWORKS, WITH AN EMPHASIS ON THE EMERGENCE OF ONLINE NETWORKS AS A PRIMARY MEDIUM THROUGH WHICH BUSINESS RELATIONSHIPS ARE CONDUCTED.
This approach seeks to provide a complete and holistic model of business relationships and business relationship value over time, in order to make the various aspects of business relationships both explicit and measurable. A mature Relationship Management model will ultimately support both:
- strategic business research and development efforts
- IT, Tools and Techniques that implement or enhance company policy and principles
The approach to the Relationship Management modeling process is to identify and describe various aspects of business relationships in terms of:
- defined relationship types; each type having a specified purpose, associated roles, and a measurable outcome
- a set of processes that make up the IT/Business relationship lifecycles
- a set of principles that apply specifically to these lifecycle processes
Ultimately the discipline seeks to enable all stakeholders to develop, evaluate, and leverage high-value relationships throughout the network.