Companies increasingly engage with non-market actors such as local communities, nongovernmental organizations (NGOs), and government agencies. These types of collaborations can benefit both parties, as they can create value through exchanging resources and knowledge. However, both sides need to enter into a formal contract to clearly outline the terms of the partnership and protect theContinue reading “THE BENEFITS OF FORMAL CONTRACTING WITH NON-MARKET ACTORS: A GUIDE FOR COMPANIES”
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MAXIMIZING PERFORMANCE OUTCOMES WITH EFFECTIVE RELATIONAL CONTRACTING: A GUIDE FOR BUSINESSES
Did you know that when contracts are not written correctly, it can hurt a company’s ability to improve its products and save money? A study found that this can lead to losses of up to 10% in product end-product enhancements. Misaligned formal contracts can significantly impact a company’s performance outcomes. In a recent study publishedContinue reading “MAXIMIZING PERFORMANCE OUTCOMES WITH EFFECTIVE RELATIONAL CONTRACTING: A GUIDE FOR BUSINESSES”