Do you have one of those really tough business problems that seems to plague you? No matter what you try, nothing seems to solve the problem?
Nobel laureate Daniel Kahneman, professor emeritus of Psychology at Princeton University, famed for his psychological research into economic science and behavioral economics, laid the foundation for the field of research known as cognitive biases.
It is likely that no other subject gets as much attention when two companies are entering, or extending, their outsourcing business relationship as the effort to come up with a fair pricing structure. Money is money after all, and money talks. You know the drill by now: the conventional procurement process pits buyers and sellers on opposite sides of the table – and there’s no way around it, right? Wrong!
I’ve been a game theory fan for many years, particularly as it relates to showing that cooperative behavior indeed creates true “win-win” situations. So I was excited to read a work of University of Pennsylvania professors Alexander J. Stewart and Joshua B. Plotkin, ‘From Extortion to Generosity, Evolution in the Iterated Prisoner’s Dilemma‘, published recently in the Proceedings of the National Academy of Science (PNAS).
If your recent experiences with new or renewal contract negotiations are something akin to visiting the dentist for a root canal, we’d like to introduce you to a much better – and pain-free! – way to go about negotiating. It’s called Getting to We: a five-step process for crafting business relationships with the intent to drive collaborative partnerships.
This month Academics of Outsourcing highlight goes to professors Jeffrey H. Dyer and Harbir Singh for their influential work on the topic on what they call the “relational view,” of working in highly strategic alliances.
What can a professor who teaches democratic theory tell us about collaborative, non-coercive business and outsourcing relationships?
This month’s blog honours best-selling author Cynthia Barton Rabe, author of The Innovation Killer. Tragically, Rabe passed away in 2011, killed by a hit and run driver at age 47—just five years after her revolutionary book on innovation was published.
If you are familiar with the Vested approach and the books and articles I’ve written on collaboration and trust, you know about the importance I place on sharing value in business relationships.
You might say it’s the way that capitalism will take business and value creation to a new and more sustainable level in the twenty-first century. And it’s also why I’ve taken much too long to write about the seminal ideas of Michael Porter on this subject in this space.