The course is based on the University of Tennessee’s (UT) award winning research on the Vested® business model. The Vested approach turns traditional buyer-supplier relationships on their head – creating a highly collaborative, purpose built relationship, designed to drive the innovation needed in order to achieve mutually defined desired outcomes through a true “win-win” Vested agreement.
This course helps attendees understand the paradigm shift and the “Five Rules” that are essential for moving from simply saying “strategic relationship” to actually creating a true win-win contract based on Nobel prize winning behavior economic principles. Attendees explore first-hand how the Vested business model can help them develop their own highly collaborative win-win strategic relationships. Attendees end the course by creating a personal action plan with the key steps to start their Vested journey.
Even if you don’t intend to create a Vested agreement – you will walk away from this course with a practical, applied action plan to improve any relationship – no matter how big or small.
- Go behind the scenes with real case studies that profile how leading companies are applying the Vested business model to create true win-win business relationships yielding transformation results.
- Answer the question – “Is Vested right for us?” by understanding the fundamental business model differences between conventional approaches, and the Vested business model. Learn how to use a diagnostic tool to guide your organization and stakeholders to also answer this question.
- Begin to Shift from Theory to Practice with RealPlay® exercises designed to help you identifying structural flaws and creating a roadmap for what needs to be done to shift to a Vested business model.
- Create your own action plan for how you can begin to adopt a Vested business model in your organization.
This course is ideal for organizations uncertain whether a Vested model is right for them, or for those beginning their journey to a Vested relationship, with a strategic partner. The course provides the right amount of detail that allows attendees to comfortably go back to their organization or business partners and share the why, what and how of Vested. Participants typically include a mix of senior leaders from both “buying” organizations (procurement, operations, supplier relationship management, alliance management) and “Supplying” organizations (account executive and strategic business development). Most attendees are director to VP level and occasionally include CFOs, COOs, and CEOs. It is not uncommon to have a couple of consultants or lawyers in the course who specialize in strategic deals.
The course is particularly effective when organizations and their suppliers attend as a team and apply the learning’s to real relationships.
Methods of Instruction
This course provides a high touch environment for attendees to explore the Vested business model in more detail. The class size is limited to provide a rich experience where participants can interact with the initiators of the Vested business model. The program is designed to provide a balance of theory and practical application. The course is rich in real world examples with faculty members of the University of Tennessee sharing how organizations are successfully applying Vested to achieve transformational results.
The course uses interactive Real Play® sessions designed to help you put the Vested theory into practice. Participants start by identifying gaps in an existing agreement against the Vested benchmarks and the course ends with attendees creating an action plan for what needs to be done to shift your relationship to a Vested business model.
Course attendees are asked to complete six hours of pre-work prior to coming to the course:
- Complete the Vested: Five Rules that Transform Business Relationship online course. This enables participants to understand the fundamentals of Vested prior to coming to the course, enabling rich interactive discussions and dedicated time to application of Vested through RealPlay exercises. Course tuition includes the online course (priced at €495 when taken separately). The online course can continue to be accessed as a refresher in the future.
- Complete three online self-assessments allowing participants to think about how to apply Vested in a real application. Assessments include the 10 Elements of a Vested Agreement, 10 behavioral “Ailments”, and a Readiness Assessment.
Purspective, center of excellence – As NEVI-Purspective we have a close relationship with Kate Vitasek already for a couple of years. Since we are one of the leading procurement management organizations in the world we are very keen on constantly developing our expertise in the field of procurement and supply management in order to help you get the most out of your supplier relationships. Therefore, we have adopted the methodology of Kate Vitasek and the University of Tennessee on the strategic sourcing in the new economy and particularly the Vested Outsourcing methodology, and are proud to be a Center of Excellence (CoE) since the summer of 2016!
Kate Vitasek – University of Tennessee’s lead researcher and faculty for Graduate and Executive Education for all Vested programs. Kate has been lauded by World Trade Magazine as one of the “Fabulous 50+1” most influential people impacting global commerce. Her work has led to 6 books, including, Vested Outsourcing: Five Rules That Will Transform Outsourcing, Vested, How P&G, McDonald’s, and Microsoft are Redefining Winning in Business Relationships, and Getting to We: Negotiating Agreements for Highly Collaborative Relationships. Kate has also been featured CNN International, Bloomberg, NPR, and on Fox Business News and has been names on IAOP’s “Powerhouse 25” list and the National Association of Outsourcing’s “A-List” of thought leaders.
Price: € 3.500,- ex VAT.
Location: tbd (the Netherlands)
Date: May 28, 29 and 30th 2018 (3 days)