Many organizations have a strong oversight mantra. But sadly, oversight can often lead to bad decisions – especially when it comes to large, complex and high-risk projects. Why? Psychological studies show that people fall victim to what is known as “status quo bias” and the sunk cost fallacy. Simply put, we tend to get sucked into […]
governance
Outsource Magazine — March 2018 — 2-in-a-Box
Supplier Relationship Management (SRM) is all the rage and for a good reason. Far too many “strategic” contracts have been developed (especially outsourcing contracts) that do not include sound SRM practices.
Adopt a “Two-in-a-Box” Partner for Efficient Outsourcing Governance
Supplier Relationship Management (SRM) is all the rage and for a good reason. Far too many “strategic” contracts have been developed (especially outsourcing contracts) that do not include sound SRM practices. It’s good to see that virtually all of the major advisory firms are now incorporating solid governance frameworks into their contracts. Software companies are […]
Christmas Stocking Stuffers
What are professionals with a Vested frame of mind looking for as they place their Christmas stocking on the fireplace mantle this year? Here are some of the items I hope Santa will seriously consider leaving for procurement, outsourcing and supply chain professionals to prepare them for the post-Brexit, new-Globalization, and Trump World eras: A […]
The Vested Way eBook and the Power of WIIFWe
We’ve re-released The Vested Way eBook this week while making it easy—and free—to download it in various formats so you can read it however and wherever you like. The Vested Way explores how and why the “What’s in it for We” mindset is revolutionizing business relationships through anecdotes and real life success stories. You’ll learn why the Vested mindset is […]
Outsource Planning 3Es: Experience, Essentials and Empathy
In my previous post I talked about maturity in outsource planning and wanted to follow up with a little more color from research by CORE, Deloitte and Ryerson University’s Ted Rogers School of Management on their survey report, “The 3 Es of Effective Outsourcing Governance.” The 3Es are experience, essentials and empathy. Parties involved in […]
SSON — July 2014
Are You Embedding Perverse Incentives in Your Outsourcing Agreement? Article by Kate Vitasek posted on SSON 7 July 2014 Incentives are usually considered a good thing, right? They encourage engagement, investment, and innovation. Then why has the topic of “perverse incentives” gotten so much traction? For one thing, the economist Steven D. Levitt (and Stephen J. […]
Innovate AND Exnovate
Exnovate/exnovation—or open, collaborative innovation—is a term that’s been around for quite a while. But every time I read something on it, I find myself a little more confused. So I did some research…and I thought I would share my insights and why I think the concept is worth sharing. The concept entails quite a lot, […]
Controlling our Decisions
Most of us probably think we are honest and in control of our own decisions—but not so fast!—Dan Ariely, Duke University professor of psychology and behavioral economics, offers another and quite provocative view. I’ve been a long-time fan of Ariely since reading his book Predictably Irrational. And his talks on TED have been viewed about three […]
SIG Inside Sourcing Newsletter — May 2014
Unpacking Pricing Models: Making You “Get What You Pay For” Reality Article by Kate Vitasek published online 15 May 2014. Here’s the link: http://www.sig.org/newsletter.php?id=8797
