Business Associations as tools for Promoting Efficient Business Performance: The Historical Perspectives and Evolving Roles

Abstract

This paper explores the evolving roles of business associations (BAs) in promoting efficient administrative and business performance in the  interdependent private and public sectors, regardless of firm size and operational scale. BAs’ literature from medieval time to date is used to show the evolving and elevating roles of BAs in development; much done in developed and emerging economies. The BAs’ historical contexts’  dissemination that could solidify their theoretical and empirical significance in institutions for developmental dimensions, especially in developing world has received little attention to date. The current paper drags back historically from the past so as to appreciate the work of BAs for promoting efficient business performance. It highlights BAs categorization criteria whose management matters for realizing economic efficiency and beneficial social relations. This paper contributes to the scanty body of knowledge in the areas of BAs history and folds their unfading influence to business performance strategies and policies over centuries. The paper finds that though BAs’ potential for promoting efficiency is historical, empirical and feasible, but with individuals and/or governments’ intentions, BAs can be misused and be abusive to developmental initiatives and outcomes.
Thus, it recommends a continuous learning amongst members and thorough management and monitoring of BAs stakeholders’ dynamism in terms of intentions, power and interests for enhancing effective members’ involvement for realization of the BAs’ optimal social and economic benefits.

Keywords: Business Associations, Networks, Performance