The Inherent Failures of Long-Term Contracts — and How to Fix Them
HBR IdeaCast3 Syys 2019

The Inherent Failures of Long-Term Contracts — and How to Fix Them

Oliver Hart, Nobel-winning Harvard economist, and Kate Vitasek, faculty at the University of Tennessee, argue that many business contracts are imperfect, no matter how bulletproof you try to make them. Especially in complicated relationships such as outsourcing, one side ends up feeling like they're getting a bad deal, and it can spiral into a tit for tat battle. Hart and Vitasek argue that companies should instead adopt so-called relational contracts. Their research shows that creating a general playbook built around principles like fairness and reciprocity offers greater benefits to both businesses. Hart and Vitasek, with the Swedish attorney David Frydlinger, cowrote the HBR article "A New Approach to Contracts."

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Building Successful Hybrid Teams (Back to Work, Better)

Building Successful Hybrid Teams (Back to Work, Better)

Tsedal Neeley, professor at Harvard Business School, has been studying remote work and global teams for years. In episode 732 early in the pandemic, she shared how managers could lead their teams whil...

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Lessons in Innovation from Bowie, Beyoncé, and More

Lessons in Innovation from Bowie, Beyoncé, and More

Panos Panay, incoming co-president of the Recording Academy, which presents the Grammys, and R. Michael Hendrix, partner at the innovation consultancy IDEO, argue that the music world offers myriad le...

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Stop Networking, Start Connecting

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Best Buy’s Hubert Joly on Walking the Talk of Stakeholder Capitalism

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Hubert Joly, former chairman and CEO of Best Buy, says that now is the time for companies to get serious about operating to benefit not just shareholders but also employees, customers and broader soci...

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Hybrid Work Is Here To Stay. Now What? (Back to Work, Better)

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Nicholas Bloom, economics professor at Stanford University, has been studying remote work and hybrid (a mix of remote and onsite) work for years. Then the pandemic made these modes widespread and last...

29 Kesä 202124min

The Rise and Fall of Carlos Ghosn: Part 4

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Suddenly powerless in Tokyo prison after his arrest, Carlos Ghosn plans an audacious escape and flees Japan while out on bail. Out of reach of Japanese authorities, the once celebrated CEO of Nissan a...

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What Anthropologists Can Teach Us About Work Culture

What Anthropologists Can Teach Us About Work Culture

Greg Urban, anthropologist at the University of Pennsylvania, used to study indigenous tribes in Brazil. Now he hangs out in break rooms and boardrooms analyzing how people interact — and create and c...

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The Rise and Fall of Carlos Ghosn: Part 3

The Rise and Fall of Carlos Ghosn: Part 3

A decade into Ghosn’s tenure, Nissan starts missing his goals for growth, profits, and electric vehicle sales. Then a devastating earthquake and tsunami in Japan and a self-made crisis at Renault in F...

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