Engagement in networks of external relationships
The enterprise depends on relationships being developed and maintained with key individuals and networks. These may include customers, suppliers, investors, lenders, and others such as technology experts, resource holders and opinion formers. This starts as soon as you start to talk to people about a possible venture. Social capital ('who you know') is vital in affording access to resources and expertise. Entrepreneurs are selective in developing social networks, seeking to influence certain groups whilst choosing not to participate in others.
Similarly, customers need to be engaged as active participants who identify culturally with the enterprise, not simply as passive consumers; more than economic value is then generated in the interchange. Relationships and 'rapport' with some customers and suppliers may be more productive than with others.
The cultural identity of the enterprise is formed and enacted through the interactions between it and these external groups. The skills of listening, understanding the other party's position, negotiating and storytelling are essential in maintaining effective relation¬ships. The enterprise depends on its identity, practices and the credibility of its message - its story - being accepted and understood within its chosen networks