Unpacking The Standing Neutral W/ Kate Vitasek. An Art of Procurement podcast on 17 February 2020 “In these complex deals, change is the norm and it’s very easy to get out of alignment as new players come in town. So we have to keep the relationship and the contract in continual alignment with everyone’s interests.” […]
Vested
Games People Play with Vendors
In what seems like a strange message from a different era, a Harvard Business Review article in 2012 by Reed K. Holden, wrote about the games buyers play with vendors, and the fact that the relationship buyer “has been in steady decline.” Holden, the author of Negotiating with Backbone, contended that the relationship buyer was […]
A Vested View on Risk
I was at a conference focused on contracting and a law school professor asserted, “You have three ways to deal with risk. Transfer it. Accept it. Or Insure for it.” There is nothing much new with those options, shifting risk is a popular pastime. But I propose there is a fourth way that is even […]
Secession as a Negotiation Tactic Will Only Go So Far
In a recent Seth Godin blog, Secession vs. Commitment, he talks about the negotiation tactic of leaving: it is powerful because “when the customer/partner/citizen could bolt at any moment, we act differently.” It may be powerful, but it is a short-term tactic. A better dynamic is commitment, because it is a “creation tactic.” When parties […]
APQC Report: Companies’ Procurement Skills Woefully Lacking
Article by Kate Vitasek published 10 Dec. 2019 in Forbes. Here is the link: https://www.forbes.com/sites/katevitasek/2019/12/10/apqc-report-companies-procurement-skills-woefully-lacking/#6c63883e79ed
Speaker.com: Podcast 51 – Vested Outsourcing Applied to Purchase Services – Interview with Kate Vitasek
Kate Vitasek on the Healthcare Supply Chain Best Practices Podcast Here is the URL: https://www.spreaker.com/user/10962649/podcast-51-vested-outsourcing-applied-to
Challenge the Status Quo
We should always challenge, or at least question, the status quo. The status quo is great only if you want the same thing you have always had. But today’s business world is dynamic and companies demand innovation and value creation. Lawyers should embrace change and more progressive thinking from academia that is proving to be […]
Every Vested Contract is Unique
We are often asked, and sometimes even begged, to draft and share a sample contract. People say, “If only I could have an example contract.” Let’s look at why this is a bad idea through the lens of an actual situation. Let’s take an example from ISS, a large facilities management service provider that has […]
“V for Vested!” — Oct. 2019 Public Sector Catering
Cover story titled, “What’s in it for we?” published in Public Sector Catering magazine. The article is based on a speech by Kate Vitasek. Here is the link: https://secure.viewer.zmags.com/publication/ccdad62b#/ccdad62b/18
The Power of Walking Away
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 […]