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Psychological contract formation is a process whereby the employer and the employee or prospective employee develop and refine their mental maps of one another. According to the outline of phases of psychological contract formation, the contracting process begins before the employment itself and develops throughout the course of employment.
Contract management or contract administration is the management of contracts made with customers, vendors, partners, or employees.Contract management includes negotiating the terms and conditions in contracts and ensuring compliance with the terms and conditions, as well as documenting and agreeing on any changes or amendments that may arise during its implementation or execution.
Complete contract theory states that there is no essential difference between a firm and a market; they are both contracts. Principals and agents are able to foresee all future scenarios and develop optimal risk sharing and revenue transfer mechanisms to achieve sub-optimal efficiency under constraints. It is equivalent to principal-agent ...
In a unilateral contract, acceptance may not have to be communicated and can be accepted through conduct by performing the act. [11] Nonetheless, the person performing the act must do it in reliance on the offer. [12] A unilateral contract differs from a bilateral contract, where there is an exchange of promises between two parties. For example ...
The terms performance-based and results-based are mostly used interchangeably. The latter may signal more the achievement of broader social and economic outcomes Performance-based contracting is the term used in Australia, New Zealand and Canada to describe the practice of attaching contract payment to a set of performance metrics.
Relational contract theory was originally developed in the United States by the legal scholars Ian Roderick Macneil and Stewart Macaulay. According to Macneil, the theory offered a response to the so-called "The Death of Contract" school’s nihilistic argument that a contract was not a fit subject for study as a whole; each different type of contract (e.g., sales, employment, negotiable ...
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Health information management professionals plan information systems, develop health policy, and identify current and future information needs. In addition, they may apply the science of informatics to the collection, storage, analysis, use, and transmission of information to meet legal, professional, ethical and administrative records-keeping ...