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.
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Leading a Team When the Strategy Keeps Changing
It's tough to keep a team motivated when the strategy from the top keeps shifting. That's the challenge facing a leader in a large global organization. He’s been getting positive feedback on his work, but he’s having trouble leading his team amid conflicting priorities and without direction from his senior leaders. Host Muriel Wilkins coaches him through how he can help his team have organizational impact, with or without more clarity from above.
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Cultivating an Experimental Mindset in Your Organization
Harvard Business School’s Stefan Thomke says running experiments can give companies tremendous value, but too often business leaders still make decisions based on intuition. With the right approach, even small firms can get a competitive advantage from the right kinds of tests.
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Moving Beyond Either-Or Decision-Making
Jennifer Riel, an adjunct professor at the Rotman School of Management, describes a problem-solving method that helps leaders move beyond either-or decisions to make stronger choices.
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The Types of Questions Every Leader Should Ask
Leslie K. John and Alison Wood Brooks, professors at Harvard Business School, say people in business can be more successful by asking more and better questions. They talk through what makes for a great question, whether you’re looking to get information or get someone to like you. They’re the coauthors of the article, “The Surprising Power of Questions,” in the May–June 2018 issue of Harvard Business Review.
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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