Question

Differences between the cost-minimization approach and the opportunity minimization

Answer 1

Answer:

In the cost-minimization approach, the firm develops formal contracts with its partners. ... The goal of this approach is to minimize the cooperative strategy's cost and to prevent opportunistic behavior by partners. The opportunity-maximization approach focuses on a partnership's value-creation opportunities.

Answer 2

Answer:

In the cost-minimization approach, the firm develops formal contracts with its partners. ... The goal of this approach is to minimize the cooperative strategy's cost and to prevent opportunistic behavior by partners. The opportunity-maximization approach focuses on a partnership's value-creation opportunities.

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