Today's business environment is constantly evolving filled with volatility uncertainty
complexity and ambiguity and driven by digital transformation globalization and the need to
creating value through innovation. These shifts demand that organizations view contracting
through a different lens. Since it is impossible to predict every what-if scenario in a
transactional contract organizations in strategic and complex partnerships must shift to a
mindset of shared goals and objectives built upon a strong foundation of transparency and trust
working together to mitigate risk much better than merely shifting risk to the weaker party.
Contracting in the New Economy helps you to not only develop this mindset - but also offers the
practical tools needed to embrace the social side of contracting enabling your organization to
harness the value creating potential of formal relational contracts. Briefly sharing the
theoretical foundations that prove relationalcontracting works it goes well beyond theory by
providing powerful examples of relational contracting principles in practice. In addition the
authors provide a practical and proven approach for helping you to put relational contracting
theory into practice for your own relationships. First by providing a framework for approaching
any contracting situation and helping organizations finding the best contract model for each
situation. And then by sharing five proven steps you can take to create an effective relational
contract for you own strategic and complex business relationships.For anyone involved in
developing contracts -lawyers in-house counsels contract managers C-level managers
procurement officers and so on - this book will empower you to create powerful cooperative
alliances that will help you reach -and surpass - your business goals in today's dynamic new
environment.
