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Compound Relationships between Firms

In this article, the authors introduce the idea of a compound relationship; that is, for many pairs of firms, the overall relationship between the two firms is composed of multiple simple relationships: supplier to customer, and vice versa; competitor to competitor; and partners. This multiplicity of relationships can lead to both opportunities and challenges for each of the two firms in the dyad. The authors define the nature of compound relationships and delineate why it is important for the firm to treat them as such rather than focusing only on the simple relationships. They distinguish compound relationships from social networks and simple dyadic relationships and relate the construct to exchange theory, “coopetition,” and the interorganizational relationship literature in marketing. They then use the political economy framework to develop a set of conceptual propositions that apply to many aspects of compound relationships. They end with some speculations regarding the appropriate management of compound relationships and propose opportunities for further research.