My Online Course on Udemy "Foundations of Contracts and Outsourcing"

Foundations of Contracts and Outsourcing

My Udemy course "Foundations of Contracts and Outsourcing."

My new online course, "Foundations of Contracts and Outsourcing," went live on Udemy.

Udemy course description 

This online training course equally suits beginners and seasoned experts who just missed classic theories and applied research to master the ground principles of contracting and outsourcing.

Much is being said about the importance of contract and supplier management relations.

However, the arguments supporting broad statements are primarily subjective.

Indeed, we need to trust our suppliers. We must carefully nurture relations with them, which might eventually bring some fruits of cooperation, support, and innovation.

We would instead feel than understand such ideas. Everyone promotes value creation, relationship building, and business transformation. Yet, there's a certain lack of theoretical background to justify or disapprove of famous slogans and buzzwords.

Meanwhile, some ground economic theories logically and consistently explain the value of relationships in contract and supplier management. 

One is Behavioral Economics - an elegant blend of psychological, cognitive, emotional, and cultural aspects that explain the human nature of economic decisions.

With the help of Rational Choice Theory, Bounded Rationality, Agency Theory, Transactional Cost Theory, and Incomplete Contracts, this course will tell you a story of relational norms, mutual dependence, and trust in the modern world of opportunism and irrationality. 

It will describe how science explains our behavior when cooperating, negotiating, or satisficing. 

This course suggests ways to reach healthy commitment between economic actors.

This online course will

  • present the Rational Choice Theory and Bounded Rationality and how they affect our decision-making,
  • introduce Transactional Cost Economics and Incomplete Contracts and suggest practical ways to overcome the Hold-up Problem,
  • explain the spectrum of contractual relationships, contract types, and relational contracting evolution,
  • show how formal and relational contracts coexist and add value to each other,
  • discuss parties' expectations under relational contracts.

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