Analyst Insight: Anyone doing business in today's economy knows that "business happens." The dynamic pace of business means the contract you sign today may not be the right contract for tomorrow. This is why academics, lawyers, and judges are starting to argue for more relational contracts where good ethics are embedded into the overall intent and framework of a commercial contract. When that happens, relational contracting could become a welcome "new normal." - Kate Vitasek, faculty member of the University of Tennessee's College of Business Administration, and principal author of six books on the Vested business model and methodology.
Analyst Insight: As technology platforms become more sophisticated, affordable, secure and widespread, they are poised to become useful tools in spurring collaboration along the supply chain. In fact, when coupled with collaborative buyer-supplier agreements, it could become a primary factor that makes collaboration a reality instead of just an aspiration. - Kate Vitasek, faculty member of the University of Tennessee's College of Business Administration