Risk Management Goals: Minimizing, Monitoring, and Controlling Risk Minimize or mitigate risk means finding ways to reduce, the impact or loss of a risk. Efforts to minimize the risk are performed before the risk is realized whereas mitigations take place afterward in...
Let’s start off with a valuable reminder: tactics are not a substitute for a real negotiation strategy. In working with thousands of negotiators, I have reached three conclusions about tactics. One, it is imperative to recognize tactics, so as not to be drawn into...
The goal of a governance structure To design and institutionalize an effective, collaborative governance structure to deliver strategic insight. (Institutionalize, means have a system in place that works even though key individuals leave the organization, and even if...
Strategic drift Occurs when the customer and supplier do not work to maintain their relationship and/or work to update strategic priorities. This typically happens after a few good months or quarters. Senior management for either organization “checks out”, moves on to...
Performance negotiations Back-and-forth conversations to reach an agreement when the customer and the supplier do not see eye-to-eye on the solution to the performance issue. An organization’s willingness to negotiate is—at some basic level—a confession of mutual...
Termination clauses Either for convenience or for cause, include a notice to the supplier but do not set forth the structure to unwind the business relationship. In fact, these clauses may provide incentives for the supplier to “dump and run”, stripping resources from...