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Yvonne Sophia Low, Business Partner, Negotiator, Certified Procurement, LLM

Recent Posts

In the conference room, the contract managers (CMs) sat silently stunned!   They heard details about the expanded and redistributed product lines, knowing this would end the contract with a major distributor who would later file arbitration.   Everyone wondered -- Is there a better option? Yes, but It require a wide-angle lens from the outset to enlarge their thinking to avoid potential disputes. This article explains how large corporations have had to think way ahead of the game with open minds. For some, it became a rough ride with losses, but in the end, the gain of deeper thinking and lessons learned far outweighed the losses.

CONTRACT PERFORMANCE EXPANDING THINKING PRODUCT LINE AVOIDING DISPUTES

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Imagine having all the necessary contractual terms, legal papers, technical specifications and service requirements all nicely drawn up and signed by both parties, you the seller and your customer, the buyer. You have just signed a contract and started a new business relationship until suddenly a verbal altercation breaks out between your project team and your client, who is your customer’s representative.

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No doubt about it - a foolish decision can ruin an agreement. If you have ever done that, you might want to know some of most common mind freezes that can lead to unwise decisions and costly results. This article speaks to that issue, includes a case study to illustrate it, and provides better ways to approach a decision before you make it, especially if it will affect important outcomes.

UNWISEDECISIONS UNRELIABLEDATA BUSINESSCOLLAPSE ERONEOUSTHINKING PROCUREMENTBIAS RECIPROCITY

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Are you connected? I’m not referring to your digital applications that help you perform your work or telecommunicate with others. I’m asking, are you really connecting meaningfully with all parties to the contract – before it is signed and after?

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What is Emotional Intelligence awareness? Put simply, EI is you -- the contracts professional -- building relationships with all parties to the contract by doing everything possible to ensure parties’ expectations are met and to achieve the desired result.

ei emotionalnintelligence

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