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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The Future of Work Is Projects—So You’ve Got to Get Them Right

The Future of Work Is Projects—So You’ve Got to Get Them Right

Companies of every size in every industry and part of the world are basing more of their work around projects. And yet research shows that nearly two-thirds of those efforts fail. Antonio Nieto-Rodrig...

9 Marras 202123min

Anti-Bias Policies That Really Work in Customer Service

Anti-Bias Policies That Really Work in Customer Service

Alexandra Feldberg and Tami Kim, assistant professors at Harvard Business School and the University of Virginia Darden School of Business, respectively, say companies are overlooking an important plac...

2 Marras 202124min

Find Focus in a Chaotic World

Find Focus in a Chaotic World

If you're feeling distracted, mentally fogged, and unable to pay attention to (or focus on if attention is in hed) the task at hand, you're not alone. The human brain is highly susceptible to often un...

26 Loka 202127min

Algorithms Won’t Solve All Your Pricing Problems

Algorithms Won’t Solve All Your Pricing Problems

Marco Bertini, marketing professor at Esade Business School, says more and more companies are turning to pricing algorithms to maximize profits. But many are unaware of a big downside. The constant pr...

19 Loka 202126min

Tech’s Exponential Growth – and How to Solve the Problems It’s Created

Tech’s Exponential Growth – and How to Solve the Problems It’s Created

Technological development is happening faster than ever and changing our lives in fundamental ways. The companies behind all these new gadgets and services are no doubt the greatest corporate success ...

12 Loka 202124min

First He Saved Unilever. Now He Wants to Save Capitalism.

First He Saved Unilever. Now He Wants to Save Capitalism.

Paul Polman, former CEO of Unilever, led a dazzling career in consumer goods, from Procter & Gamble to Nestlé to the British multinational. His experience fending off a hostile takeover bid taught him...

5 Loka 202124min

How to Make Strategic Career Decisions, Even in a Crisis (Back to Work, Better)

How to Make Strategic Career Decisions, Even in a Crisis (Back to Work, Better)

When it comes to work, it's easy to focus on the near term: the next meeting, project, promotion. The global pandemic pushed many of us even further into heads-down mode. But Dorie Clark, author of th...

28 Syys 202128min

The Innovation System Behind Moderna’s Covid-19 Vaccine

The Innovation System Behind Moderna’s Covid-19 Vaccine

Noubar Afeyan, cofounder and chair of Moderna Therapeutics and CEO of Flagship Pioneering, says that the breakthrough innovation behind the company’s Covid-19 vaccine came not as a stroke of luck, but...

23 Syys 202121min

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