Championing Change Management

Sibrecht Diender () and Bonnie Keith ()

Chapter 7 in Successful Relational Contracting, 2025, pp 155-178 from Springer

Abstract: Abstract Effective change management provides the foundation for sustaining relational contracts in dynamic business environments. This chapter examines the significance of change management and offers valuable insights into the critical elements of successful change initiatives. It features a case study that illustrates the transformation of a traditional contract into a relational contract between a pharmaceutical company and its service provider. It showcases the importance of ongoing governance and how the flexibility of a relational contract structure facilitates and enables adjustments as business requirements need them. We outline a structured five-step change management process proposed by Harvard Business School and relate this process to the four phases of relational contracting. The chapter concludes by sharing tips on how to drive successful change management, emphasizing the necessity of dedication, time, leadership attention, and a focus on long-term results.

Date: 2025
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Persistent link: https://EconPapers.repec.org/RePEc:spr:sprchp:978-3-031-91732-5_7

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DOI: 10.1007/978-3-031-91732-5_7

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