Tag: contracts

Timeframe, timeline, and tempo

A contract can be executed within minutes, or over days, months and years. It depends on the type of service and often on the level of commitment involved. Some service contracts are worth hundreds of millions of dollars, stretching over many years. Many contracts are customized, negotiated and specified between two or parties, as is […]

Results and evidence

In services, outcomes are the goods. Experience is the packaging in which the goods are delivered. It is critical that customers are able to walk away with outcomes they pay for, and own them, just as easily they’re able to walk away with a bag full of goods from a retail store. In services, the […]

Trust reduces costs

Service providers may have the confidence to deliver performance and affordance for a certain price, but they also need trust. Confidence is the belief service providers have in themselves in promising a set of outcomes and experience based on their resources and capabilities. Trust is the belief customers have in such promises. Without confidence, promises […]

Design of contracts

The design of a contract should seek to reduce and eliminate costs and risks, and not simply move them around from one side the other. The beautiful contract is free of false choices and compromises. O-P/E=N highlights the relationships between key factors driving net value, so each may be systematically targeted to improve yield in […]