This is due to a realization that value is not only related to the transaction of products for price, but is being created through interaction between firms that work together.
Realizing that value creation is far more complex and challenging than just products for price, has made the concept of relationship value a popular and important topic.
Existing theories for explaining innovation (or the lack of innovation) center on empirical samples from large firms in the high-tech sectors such as electronics, software and information technology.
This partly explains why popular concepts of innovation processes are associated with firms having characteristics such as strong science and technology components or the ability to conduct research and development (R&D) activities which should lead to commercialization.
Second, a fine-tuned conceptual framework of RNSTs with four commonalities and six differing dimensions to structure and stimulate discussions concerning tools for strategizing in business relationships and networks has been developed.
Third, an initial IMP strategy toolbox, which more clearly outlines the IMP approach to strategizing using tools, is presented.
Previous studies in the Industrial Marketing and Purchasing (IMP) approach to strategizing as well as selected strategy tool studies from Strategy-as-Practice (Sa P) have provided valuable insights on this topic.
The term strategy tools covers a set of concepts, methods, models, techniques, frameworks and methodologies that structure or influence strategic activity.
The thesis contributes to literature on the IMP approach to strategizing in five ways.
First, the term relationship and networking strategy tools (RNSTs) has been put forth as a distinct concept to encompass tools relevant for strategizing in business relationships and networks.