Matthew Potoski

This Element presents a framework for analyzing the complexities of contracting, how these vary across circumstances, the ways contract managers can address challenges, and the skills of contract managers. The framework is grounded on central concepts. Market frictions are underlying imperfections that cause common contracting problems; contract management activities are the tasks and procedures that contract managers perform to prepare and execute the purchase; and skills are the ability to perform contract management activities that identify and mitigate frictions. These concepts are interdependent – market frictions can influence the efficacy of contract management activities, activities may reduce or increase the presence of frictions, and skills may influence both the choice and effectiveness of activities in addressing contracting challenges. Omitting any of these components is likely to result in misleading accounts of the root causes and potential solutions to contracting challenges.

This Element presents a framework for analyzing the complexities of contracting, how these vary across circumstances, the ways contract managers can address challenges, and the skills of contract managers. The framework is grounded on central concepts. Market frictions are underlying imperfections that cause common contracting problems; contract management activities are the tasks and procedures that contract managers perform to prepare and execute the purchase; and skills are the ability to perform contract management activities that identify and mitigate frictions. These concepts are interdependent – market frictions can influence the efficacy of contract management activities, activities may reduce or increase the presence of frictions, and skills may influence both the choice and effectiveness of activities in addressing contracting challenges. Omitting any of these components is likely to result in misleading accounts of the root causes and potential solutions to contracting challenges.

There are as many ways for companies to improve their environmental performance as there are stakeholders who are calling upon them to do so. If companies make the right choices, they can satisfy their stakeholders, enhance their financial position, and help address the climate crisis. The wrong choices invite stakeholder scorn and risk wasting valuable resources. What problems do companies need to solve, and how can they solve them, to achieve the promise of shared value environmental performance? This book presents a framework for companies to design, develop and implement an effective environmental strategy that identifies environmental improvements, enables value exchanges with stakeholders, and improves competitive advantage. The step-by-step guide through this framework, illustrated with many examples, shows the promise of environmental initiatives that align with strategic opportunities and resources and the pitfalls of those that do not.

There are as many ways for companies to improve their environmental performance as there are stakeholders who are calling upon them to do so. If companies make the right choices, they can satisfy their stakeholders, enhance their financial position, and help address the climate crisis. The wrong choices invite stakeholder scorn and risk wasting valuable resources. What problems do companies need to solve, and how can they solve them, to achieve the promise of shared value environmental performance? This book presents a framework for companies to design, develop and implement an effective environmental strategy that identifies environmental improvements, enables value exchanges with stakeholders, and improves competitive advantage. The step-by-step guide through this framework, illustrated with many examples, shows the promise of environmental initiatives that align with strategic opportunities and resources and the pitfalls of those that do not.

Complex Contracting draws on core social science concepts to provide wide-ranging practical advice on how best to manage complex acquisitions. Using a strong analytical framework, the authors assess contract management practices, suggesting strategies for improvement and ways to avoid the pitfalls of managing contracts for large and sophisticated projects. An in-depth analysis of the US Coast Guard's Deepwater program is included to illustrate ways to respond to real-world contracting challenges. This high-profile and controversial case consisted of a projected 25-year, $24 billion contract through which the US Coast Guard would buy a system of new boats, aircraft, communications, and control architecture to replace its aging fleet. The authors explore the reasons why this program, launched with such promise, turned out so poorly, and apply the lessons learned to similarly complex contracting scenarios. This engaging and accessible book has broad applicability and will appeal to policymakers, practitioners, scholars and students.

Can businesses voluntarily adopt progressive environmental policies? Most environmental regulations are based on the assumption that the pursuit of profit leads firms to pollute the environment, and therefore governments must impose mandatory regulations. However, new instruments such as voluntary programs are increasingly important. Drawing on the economic theory of club goods, this book offers a theoretical account of voluntary environmental programs by identifying the institutional features that influence conditions under which programs can be effective. By linking program efficacy to club design, it focuses attention on collective action challenges faced by green clubs. Several analytic techniques are used to investigate the adoption and efficacy of ISO 14001, the most widely recognized voluntary environmental program in the world. These analyses show that, while the value of ISO 14001's brand reputation varies across policy and economic contexts, on average ISO 14001 members pollute less and comply better with governmental regulations.

Can businesses voluntarily adopt progressive environmental policies? Most environmental regulations are based on the assumption that the pursuit of profit leads firms to pollute the environment, and therefore governments must impose mandatory regulations. However, new instruments such as voluntary programs are increasingly important. Drawing on the economic theory of club goods, this book offers a theoretical account of voluntary environmental programs by identifying the institutional features that influence conditions under which programs can be effective. By linking program efficacy to club design, it focuses attention on collective action challenges faced by green clubs. Several analytic techniques are used to investigate the adoption and efficacy of ISO 14001, the most widely recognized voluntary environmental program in the world. These analyses show that, while the value of ISO 14001's brand reputation varies across policy and economic contexts, on average ISO 14001 members pollute less and comply better with governmental regulations.