Response to the following in 300 words:
Organizations need to manage two kinds of resource interdependencies-symbiotic interdependence with suppliers and customers, and competitive interdependence with rivals. Organizations employ a number of different strategies to manage supplier and customer relationships, including development of a good reputation, cooperation, strategic alliances, and mergers or acquisitions. Additionally, organizations employ strategies such as collusion and cartels, third-party linkage mechanisms (like trade associations), strategic alliances, and mergers or acquisitions to manage competitive relationships.
Choose one strategy for each type of resource interdependence (symbiotic and competitive). Describe how the strategy works and what an organization can gain by employing the strategy. What potential pitfalls might impact an organization if this strategy does not work?