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SUMMARY:Effects of social capital on risks of outcome-based contracts from
  the supplier's perspective - Jingchen Hou (University of Cambridge)
DTSTART:20160610T090000Z
DTEND:20160610T094500Z
UID:TALK66477@talks.cam.ac.uk
CONTACT:Yongjiang Shi
DESCRIPTION:Jingchen Hou from Cambridge Service Alliance (CAS) is going to
  share her recent research work with us in the servicetisation and collabo
 ration relationship arenas.\n\n"Outcome-based contracts (OBC) refer to the
  agreements between the supplier and the customer that the supplier is pai
 d based on the outcomes of total solutions or outcomes of customer value i
 n a continual use situation. OBC has become prominent for firms carrying o
 ut a servitization strategy\, especially for the provision of advanced ser
 vices where availability and capability are delivered. Risks and customer 
 relationships are identified to be two important issues in OBC. In this re
 search\, social capital is introduced to study the relationships between s
 uppliers and customers. A review of the literature identifies several rese
 arch gaps: the risks of outcome-based contracts have not been studied syst
 ematically\; the construction of social capital in OBC has not been propos
 ed\, and the effects of social capital on risks have not yet been explored
 . To fill the research gaps\, a series of case studies were conducted. The
  main findings are firstly\, that two types of outcome-based contracts are
  found to be solution OBC and customer OBC\, and two approaches to deliver
  OBC in practice are the supplier-customer binary approach and the allianc
 e or joint venture approach. Secondly\, it has been found that the two ris
 k categories in the supplier-customer binary approach are commercial risk 
 regarding the contracting of OBC\, and operational risk regarding the impl
 ementation of OBC. However\, in the alliance or JV approach\, failure to c
 onstruct social capital is another major risk category. Thirdly\, eighteen
  risk factors are identified to be the influencing factors resulting in co
 mmercial risk and operational risk in OBC with a supplier-customer binary 
 approach. Fourthly\, the social capital building blocks in three dimension
 s (structural\, relational and cognitive social capital) in OBC with the t
 wo approaches are proposed separately. Fifthly\, the effects of social cap
 ital on the risks in OBC with the two approaches are explored. A risk mana
 gement process for outcome-based contracts is proposed\, which may contrib
 ute to both the research and practice in servitization."
LOCATION:Seminar Room 2\, IfM\, 17 Charles Babbage Road
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