Strategic alliances are a cornerstone of modern business, offering companies opportunities for growth, innovation, and competitive advantage. The conventional wisdom in these partnerships has long been to draft contracts that are as comprehensive as possible, anticipating every potential scenario. Such detailed agreements, though often complex and ...
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Cognitive Bias in Business: The Hidden Risks of Strategic Alliances
Strategic alliances offer crucial growth opportunities, yet a surprising trend sees companies with shared worldviews drafting incomplete contracts, risking significant legal exposure. The Executive Magazine investigates findings from the study "Cognitive Similarity and Contract Incompleteness in Strategic Alliances," revealing why some firms take these risks and challenging conventional business wisdom
Alice Weil
Features Editor at The Executive Magazine