Analysis and Expansion of Leader-Member Exchange Theory Based on Shared-Value Networks

Abstract

The present paper analyses the connotation and extension of leader-member exchange (LMX) theory in shared-value networks, and holds that “outsiders” in core team will cause waste of internal human resources. We should improve the quality of LMX and transform “outsiders” into “insiders”, and also transform external customers and partners into “insiders” to expand the LMX theory. In-depth analysis of the role and function of multi-party members in exchange relationship, a theoretical model of team-member exchange (TMX) in shared-value network is proposed, and the model is analyzed and elaborated in detail from the individual and team levels.