Leadership isn’t just a personality trait, it’s a set of skills that you can build. Whether you’re managing up or motivating a team, HBR On Leadership is your destination for insights and inspiration from the world’s top leadership practitioners and experts. Every Wednesday, the editors at the Harvard Business Review hand-picked case studies and conversations with global business leaders, management experts, academics, from across HBR to help you unlock the best in those around you.
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Leadership isn’t just a personality trait, it’s a set of skills that you can build. Whether you’re managing up or motivating a team, HBR On Leadership is your destination for insights and inspiration from the world’s top leadership practitioners and experts. Every Wednesday, the editors at the Harvard Business Review hand-picked case studies and conversations with global business leaders, management experts, academics, from across HBR to help you unlock the best in those around you.
How Better Contracts Can Strengthen Strategic Partnerships
HBR On Leadership
22 minutes
2 days ago
How Better Contracts Can Strengthen Strategic Partnerships
Even the most carefully worded and meticiously reviewed contracts can fall apart once they hit the reality of modern business dynamics. Oliver Hart, Nobel-winning Harvard economist, and Kate Vitasek, faculty at the University of Tennessee, argue that, when it comes to contracts, one side often ends up feeling like they’re getting a bad deal, and it can spiral into a tit for tat battle. Hart and Vitasek say that companies should instead consider 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.
HBR On Leadership
Leadership isn’t just a personality trait, it’s a set of skills that you can build. Whether you’re managing up or motivating a team, HBR On Leadership is your destination for insights and inspiration from the world’s top leadership practitioners and experts. Every Wednesday, the editors at the Harvard Business Review hand-picked case studies and conversations with global business leaders, management experts, academics, from across HBR to help you unlock the best in those around you.
