Quality management principle no. 7: Relationship management
Relationship management is about establishing and maintaining relationships with interested parties. In doing so, short-term gains and long-term considerations have to be balanced. Effective relationship management is essential both inside the organization and with external stakeholders. This does not only apply to customer relations, but also to the relationship with other interested parties such as suppliers, investors, authorities or society as a whole. Open communication in terms of objectives and values is the foundation for a successful collaboration with all interested parties.