The logic of the gift and the bonding value: a new perspective for business management

Purpose – This paper aims to conceptualize business relationships so as to include in these dimensions of both gift and gratuity, to develop the concept of “bonding value”, and to offer some ideas for the use of this within firms. Design/methodology/approach – The paper analyses the concept of “bonding value”, distinguishing it from the concepts of “exchange value” and “use value” that are normally used in business, and attempts to investigate its practical implications. Findings – The paper shows how evaluating both the relationships within the organization and between firm and stakeholders in terms of “bonding value” can have effects on the economic, organizational and social aspects of a firm's activities. Research limitations/implications – The paper is a starting point of a possible conceptual path that should be directed toward the theoretical and practical use of “bonding value” in business. It is necessary to support the theoretical considerations with future empirical investigation showing the possibility of practical applications of the concept analysed. Practical implications – The main implication for business management is the possibility to propose “bonding value” and “gift logic” as new parameters in assessing whether or not a firm has achieved its institutional purposes. Originality/value – In the past, “bonding value” has been studied mainly from a philosophical and sociological point of view. In this article we try to begin to address this issue specifically from a perspective of business management.