George Akerlof and the Lemon Problem

George Akerlof put math behind the concept of the  “lemon problem” in his classic 1970 article, “The Market for Lemons,” which used the example of a used car market to depict asymmetry of… Click To Tweet Akerlof (with Michael Spence and Joseph Stiglitz) received the 2001 Nobel Prize for their analyses of markets with asymmetric information. This YouTube video explains the lemon […]

A New Day, A New Way for Island Health and Hospitalists

Our latest case study relates the extraordinary and inspiring journey of the Victoria Island Health Authority and their Hospitalists as they used the Vested model to transform their troubled labor relationship into a highly collaborative one. Most on the team have called the shift to transformational. Some go so far to say it was more like […]

All I Want for Christmas and the New Year…

As I ponder the holiday season and the start of a New Year, I wonder – from a Vested perspective of course – what would happen if Christmas stockings and New Year resolutions contained: Collaboration instead of coal Win-win instead of whine-whine Trust instead of truculence Integrity instead of infamy Value instead of venom Decency […]

The Problem with Supplier Trust

The problem with trust when it comes to suppliers is that they probably supply many different companies, perhaps even your competitors – so how do you trust them? But have you stopped to think the reverse is also true: how can suppliers trust their buyers? This is a situation as old as the buyer-supplier relationship […]

Telia-Veolia Case Study

We’ve published the latest example of Vested in practice, a case study describing how Telia – a Swedish telecom company – applied the Request for Partner process to get to a Vested agreement with Veolia, one of its long-time suppliers. Simply put, Vested helped them go from a supplier-buyer relationship to a true strategic partnership. […]

Trust the Price Tag?

The concept of a price tag is only about 140 years old. Prior to that transactions were a negotiation between buyer and seller. Basically, everything was a yard sale, with haggling expected. Today of course, haggling about the price of an airline seat or an entree at your favorite restaurant is a lost cause. The price […]

Most Negotiated vs. Most Important Contract Terms

It’s here! IACCM has released this year’s report on the most negotiated contract terms, which provides insight into the contracting practices of more than 2,100 organizations. One of the major insights of the survey identifies a disconnect between what is deemed most important in contract terms and the terms that are most… Click To Tweet […]

Teams and Social Norms

I’ve talked about the need for establishing guiding principles—or social norms—for negotiating and operating strategic contract relationships but Social norms are applicable and important for company team dynamics Click To Tweet . It’s important that the norms embodied in the “what’s in it for we?” contract negotiation process be firmly embedded throughout the organization, or […]

Carillion Needed a Strong Dose of Vested

Carillion, the large British multinational facilities management and construction services company that went bankrupt early this year, is a textbook example of how not to collaborate, communicate and well, do business. Julie Jackson, managing director at OCS Group, summed up the situation nicely in a recent article for FMWorld. “If we can’t agree on a different way […]

Heed the Power of Love

Prince Harry and Meghan Markle’s Royal Wedding over the weekend was all the buzz in the UK and in the U.S.  But the person that is still getting attention is Bishop Michael Curry, whose “power of love” sermon was something the Royal family had probably never seen before. His message left some people raising their […]