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The term “opportunism”
QUESTION
Analyze the term “opportunism” with respect to business relationships.
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APA |
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Answer
Business Opportunism
The interactions amongst businesses in the supply chain are important for relationship success and business process execution. One of the significant phenomena to supplier- buyer-relationship is opportunism, which refers to the behaviour that is self-interest seeking with astuteness. It is the approach of taking advantage of situations with minimal consideration to ethics or failing to take into account the effects of the consequences to other firms.
Opportunism is often manifested in behaviours like withholding information, dishonesty, or cheating. It also includes withholding efforts, misleading people, avoiding fulfilling requirements, and attempting not being entirely truthful. Opportunism adversely affects relational exchange principles, for example, satisfaction, cooperation, commitment as well as trust (Ozkan-Tektas, 2014). It is important to note that the more the customers trust the supplier, the greater the relationships’ value for the customers. Moreover, perception of opportunism adversely impacts business performance and can lead to low sales, therefore, decreased revenues. Opportunistic behaviour can further restrict trust-based relationships, erode value creation, and most importantly negatively impact other exchange outcomes.
Opportunistic behaviour lessens business-to-business trust. Ozkan-Tektas, (2014) established that opportunism reduces both the benevolence trust and credibility trust of retailers. Ozkan-Tektas (2014) also found that the adverse relationships between buyer’s trust building and supplier’s opportunistic behavior can become less negative only if a consumer has high level of affective commitment. Research shows that whereas affective commitment may have a moderating impact between trust relationships and opportunism, calculative commitments do not have a significant impact.
In conclusion, in a globally competitive business setting, it is strategically vital for suppliers to distinguish themselves through the creation of value along with strong relationship. Opportunism affects consumer trust, therefore, should not be practiced by any firm which intends to have loyal customers. Opportunism adversely affects relational exchange principles, for example, satisfaction, cooperation, and commitment.
References
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Ozkan-Tektas, O. (2014). The effects of opportunism and trust on buyer-supplier relationship: Do commitment types matter. International journal of business and social research, 4(9), 14-26.
Appendix
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Appendix A:
Communication Plan for an Inpatient Unit to Evaluate the Impact of Transformational Leadership Style Compared to Other Leader Styles such as Bureaucratic and Laissez-Faire Leadership in Nurse Engagement, Retention, and Team Member Satisfaction Over the Course of One Year
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