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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We’re Bad at Measuring Inequality—Here’s Why That Matters

We’re Bad at Measuring Inequality—Here’s Why That Matters

Stefanie Stantcheva, economist at Harvard University, founded the Social Economics Lab to study inequality, our feelings about it, and how policies influence it. She says when we estimate how much mon...

4 Tammi 202222min

Best of IdeaCast: What Sets Successful People Apart

Best of IdeaCast: What Sets Successful People Apart

Heidi Grant, a motivational psychologist, has studied successful people and what makes them tick. In this classic episode, she and former host Sarah Green Carmichael discuss the behaviors of high achi...

28 Joulu 202119min

There Still Aren’t Enough “Good Jobs”

There Still Aren’t Enough “Good Jobs”

Companies around the world are struggling to fill open positions, while millions of unemployed people look for work. What's going on? Zeynep Ton, professor at the MIT Sloan School of Management, says ...

21 Joulu 202127min

Gaslighting at Work—and What to Do About It

Gaslighting at Work—and What to Do About It

Mita Mallick, head of inclusion, equity, and impact at the firm Carta, says gaslighting at the office is more common than many people realize. That's when a manager or coworker engages in behavior whe...

14 Joulu 202119min

How to Use All Your Vacation — And Really Unplug

How to Use All Your Vacation — And Really Unplug

When was the last time you really took a sustained break from work? No emails. No calls. No taking care of that one little thing. For most of us — particularly in the United States -- it's been too ...

7 Joulu 202127min

One Way to Fight the Great Resignation? Re-recruit Your Current Employees

One Way to Fight the Great Resignation? Re-recruit Your Current Employees

Debbie Cohen and Kate Roeske-Zummer, cofounders of HumanityWorks, are sounding an alarm bell for employee retention. Record numbers of people are quitting their jobs due to burnout and better opportun...

30 Marras 202126min

Why the Highest Paying Jobs So Rarely Go to Women

Why the Highest Paying Jobs So Rarely Go to Women

Companies pay disproportionately high salaries to CEOs and other high-powered professionals willing to live and breathe their jobs, on-call 24/7, ready to pick up and travel. It's a phenomenon Harvard...

23 Marras 202123min

In a New Role? Here’s How to Hit the Ground Running

In a New Role? Here’s How to Hit the Ground Running

Rob Cross, management professor at Babson College, says people are changing jobs more than ever and too often falling short when they do. Surveys show nearly half of people promoted within their own c...

16 Marras 202126min

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