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Contracting in the New Economy - Using Relational Contracts to Boost Trust and Collaboration in Strategic Business Relationships (Paperback, 1st ed. 2021)
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Contracting in the New Economy - Using Relational Contracts to Boost Trust and Collaboration in Strategic Business Relationships (Paperback, 1st ed. 2021)
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Today's business environment is constantly evolving, filled with
volatility, uncertainty, complexity and ambiguity and driven by
digital transformation, globalization, and the need to creating
value through innovation. These shifts demand that organizations
view contracting through a different lens. Since it is impossible
to predict every what-if scenario in a transactional contract,
organizations in strategic and complex partnerships must shift to a
mindset of shared goals and objectives built upon a strong
foundation of transparency and trust, working together to mitigate
risk much better than merely shifting risk to the weaker party.
Contracting in the New Economy helps you to not only develop this
mindset - but also offers the practical tools needed to embrace the
social side of contracting, enabling your organization to harness
the value creating potential of formal relational contracts.
Briefly sharing the theoretical foundations that prove relational
contracting works, it goes well beyond theory by providing powerful
examples of relational contracting principles in practice. In
addition, the authors provide a practical and proven approach for
helping you to put relational contracting theory into practice for
your own relationships. First by providing a framework for
approaching any contracting situation and helping organizations
finding the best contract model for each situation. And then by
sharing five proven steps you can take to create an effective
relational contract for you own strategic and complex business
relationships. For anyone involved in developing contracts
-lawyers, in-house counsels, contract managers, C-level managers,
procurement officers, and so on - this book will empower you to
create powerful cooperative alliances that will help you reach -and
surpass - your business goals in today's dynamic new environment.
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