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Home > Research > Publications & Outputs > Contracts as a Facilitator of Resource Evolution
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Contracts as a Facilitator of Resource Evolution

Research output: Contribution to journalJournal article

Published

Journal publication date09/2012
JournalJournal of Business Research
Journal number9
Volume65
Number of pages3
Pages1251-1253
Early online date3/12/11
Original languageEnglish

Abstract

The formality of contracts is not external to the substance of business interactions, but a way of articulating, facilitating and simplifying the complexity of business interactions. An umbrella contract, in particular, is an abstraction of possibility and a refined version of the substance of business interaction in which resource
leveraging may or may not occur. Umbrella contracts circumscribe an in-built platform or ‘architecture’ that enables regular and repeated knowledge-intensive interactions. Today's business landscape is characterized by the heterogeneity of resources, activities and actors and contracts have become a key element in the interconnected path of resource evolution, activity specialization and actor co-evolution.