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Author: Sara Bormann Publisher: ISBN: Category : Languages : en Pages : 51
Book Description
This paper examines a potential problem associated with the use of subjectivity in incentive contracts: Relational contracting clarity. Clarity refers to the extent to which the terms of a relational contract, or subjective assessment can be communicated and an employee and his superior are able to build a shared understanding on which behavior is desirable and how it translates into rewards (Gibbons and Henderson 2012a, 2012b). If the terms of a subjective assessment are difficult to communicate, contracting clarity and hence the incentive effect of subjectivity diminish. Accordingly, firms should reduce their reliance on subjectivity. It has been argued that this is the case in complex and multidimensional settings, which arise, for instance, when firms pursue a joint strategy (i.e. follow a differentiation and a low- cost strategy simultaneously). Following a joint strategy has been associated with increased complexity and multidimensionality in the decision making process due to potentially conflicting strategic goals (Dekker et al. 2013; Lillis 2002; Lillis and van Veen-Dirks 2008). My results based on the analysis of survey data of 153 firms are consistent with my expectations. That is, pursuing a joint strategy is associated with a reduced use of subjectivity. However, this relation is not prevalent for all forms of subjectivity. In particular, following a joint strategy is associated with a reduced reliance on subjective formulas, while there is no relation to the use of subjective performance measures.
Author: Sara Bormann Publisher: ISBN: Category : Languages : en Pages : 51
Book Description
This paper examines a potential problem associated with the use of subjectivity in incentive contracts: Relational contracting clarity. Clarity refers to the extent to which the terms of a relational contract, or subjective assessment can be communicated and an employee and his superior are able to build a shared understanding on which behavior is desirable and how it translates into rewards (Gibbons and Henderson 2012a, 2012b). If the terms of a subjective assessment are difficult to communicate, contracting clarity and hence the incentive effect of subjectivity diminish. Accordingly, firms should reduce their reliance on subjectivity. It has been argued that this is the case in complex and multidimensional settings, which arise, for instance, when firms pursue a joint strategy (i.e. follow a differentiation and a low- cost strategy simultaneously). Following a joint strategy has been associated with increased complexity and multidimensionality in the decision making process due to potentially conflicting strategic goals (Dekker et al. 2013; Lillis 2002; Lillis and van Veen-Dirks 2008). My results based on the analysis of survey data of 153 firms are consistent with my expectations. That is, pursuing a joint strategy is associated with a reduced use of subjectivity. However, this relation is not prevalent for all forms of subjectivity. In particular, following a joint strategy is associated with a reduced reliance on subjective formulas, while there is no relation to the use of subjective performance measures.
Author: David Frydlinger Publisher: Springer Nature ISBN: 3030650995 Category : Business & Economics Languages : en Pages : 327
Book Description
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 relational contracting 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.
Author: United States. Office of Federal Contract Compliance Programs Publisher: ISBN: Category : Affirmative action programs Languages : en Pages : 1110
Author: Anol Bhattacherjee Publisher: CreateSpace ISBN: 9781475146127 Category : Science Languages : en Pages : 156
Book Description
This book is designed to introduce doctoral and graduate students to the process of conducting scientific research in the social sciences, business, education, public health, and related disciplines. It is a one-stop, comprehensive, and compact source for foundational concepts in behavioral research, and can serve as a stand-alone text or as a supplement to research readings in any doctoral seminar or research methods class. This book is currently used as a research text at universities on six continents and will shortly be available in nine different languages.
Author: Stephen Ward Publisher: John Wiley & Sons ISBN: 0470686499 Category : Business & Economics Languages : en Pages : 520
Book Description
Since I wrote the Foreword for the second edition of this book, risk management processes have become much more widely used, but controversy about what should be done and how best to do it has grown. Managing risk is a risky business. Chapman and Ward provide an in-depth explanation of why it is important to understand and manage underlying uncertainty in all its forms, in order to realise opportunities more fully and enhance corporate performance. They show what best practice should look like. The implications go well beyond the conventional wisdom of project risk management, providing an enlightening new perspective. —Professor Tony M. Ridley Imperial College London, Past President, Institution of Civil Engineers Chris Chapman and Stephen Ward continue to educate the profession with this masterful exposition of the differences between, and the potentials for combinations of, risk, uncertainty and opportunity. Particularly welcome is the way they integrate this trio into the project lifecycle – the bedrock of project management control and organization. —Peter W.G. Morris Head of School and Professor of Construction and Project Management University College London Chris Chapman and Stephen Ward’s books on Project Risk Management have been an essential part of my repertoire for twenty years, and they are top of my recommended reading for the courses I do on that subject. In this book they have enhanced their previous work to focus on uncertainty management and emphasise more strongly opportunities for improving project performance, rather then just identifying what can go wrong. A structured process is an essential part of managing project uncertainty, and their process is one of the most powerful. This book will be added to my repertoire. —Rodney Turner Professor of Project Management, SKEMA Business School Lille A profoundly important book. With How to Manage Project Opportunity and Risk, Chris Chapman and Stephen Ward take a good thing and make it better. Members of the project management profession have been influenced for years by their insights into project risk management. With this latest instalment the authors demonstrate that risk and uncertainty needn’t be dreaded; in fact, the reverse side of the ‘risk coin’ has always been opportunity. My sincere appreciation to Chapman and Ward for turning this particular coin over and showing readers, academic and practitioner alike, the opportunity embedded in managing projects. —Jeffrey K. Pinto Andrew Morrow and Elizabeth Lee Black Chair in Management of Technology Sam and Irene Black School of Business, Penn State Erie
Author: Beverley M. Lloyd-Walker Publisher: Project Management Institute ISBN: 1628250941 Category : Business & Economics Languages : en Pages : 468
Book Description
Large projects, especially in the construction and infrastructure sectors, involve collaborations of many different types, such as built-own-operate, public-private partnership, or competitive dialogue. This monograph details the authors' research on the types of collaborative projects. The research undertaken for this book responds to the need for a taxonomy of relationship-based procurement approaches, a particular type of project alliancing in need of standardization. Recommendations are made based on interviews with 36 subject matter experts from several countries, as well as an extensive literature review
Author: Jonathan Morgan Publisher: Cambridge University Press ISBN: 110747020X Category : Law Languages : en Pages : 314
Book Description
Commercial contract law is in every sense optional given the choice between legal systems and law and arbitration. Its 'doctrines' are in fact virtually all default rules. Contract Law Minimalism advances the thesis that commercial parties prefer a minimalist law that sets out to enforce what they have decided - but does nothing else. The limited capacity of the legal process is the key to this 'minimalist' stance. This book considers evidence that such minimalism is indeed what commercial parties choose to govern their transactions. It critically engages with alternative schools of thought, that call for active regulation of contracts to promote either economic efficiency or the trust and co-operation necessary for 'relational contracting'. The book also necessarily argues against the view that private law should be understood non-instrumentally (whether through promissory morality, corrective justice, taxonomic rationality, or otherwise). It sketches a restatement of English contract law in line with the thesis.
Author: Amy Finkelstein Publisher: Columbia University Press ISBN: 0231538685 Category : Medical Languages : en Pages : 161
Book Description
Addressing the challenge of covering heath care expenses—while minimizing economic risks. Moral hazard—the tendency to change behavior when the cost of that behavior will be borne by others—is a particularly tricky question when considering health care. Kenneth J. Arrow’s seminal 1963 paper on this topic (included in this volume) was one of the first to explore the implication of moral hazard for health care, and Amy Finkelstein—recognized as one of the world’s foremost experts on the topic—here examines this issue in the context of contemporary American health care policy. Drawing on research from both the original RAND Health Insurance Experiment and her own research, including a 2008 Health Insurance Experiment in Oregon, Finkelstein presents compelling evidence that health insurance does indeed affect medical spending and encourages policy solutions that acknowledge and account for this. The volume also features commentaries and insights from other renowned economists, including an introduction by Joseph P. Newhouse that provides context for the discussion, a commentary from Jonathan Gruber that considers provider-side moral hazard, and reflections from Joseph E. Stiglitz and Kenneth J. Arrow. “Reads like a fireside chat among a group of distinguished, articulate health economists.” —Choice
Author: Sara Bormann
Author: Sara Bormann
Author: David Frydlinger
Author: Mohamed El-Said Aboul-Ezz
Author: United States. Office of Federal Contract Compliance Programs
Author: Anol Bhattacherjee
Author: Stephen Ward
Author: Beverley M. Lloyd-Walker
Author: Ian R. MacNeil
Author: Jonathan Morgan
Author: Amy Finkelstein