STRATEGIC FRAMEWORK战略框架
Covenant Governance契约治理
Covenant Governance makes mutual obligation — not contractual exchange — the organising principle of the firm, and it is precisely under crisis that the difference pays.契约治理把相互义务——而非合同交换——作为企业的组织原则，而二者的差别恰在危机中兑现。
Definition. Covenant Governance is a governance mode in which mutual obligation, rather than contractual exchange, is the organising principle of the firm. It differs from contract governance in duration (persists through adversity), scope (covers unspecified futures), and enforcement (honour rather than litigation). Firms governed by covenant tend to outperform under crisis conditions where contract cannot anticipate the shock.
定义。契约治理是一种治理模式：企业的组织原则是相互义务，而非合同交换。它与合同治理在三个维度上不同——持续性（穿越逆境而不终止）、覆盖范围（涵盖未曾约定的未来）、执行方式（靠荣誉而非诉讼）。在合同无法预见冲击的危机条件下，契约治理的企业往往表现更优。
Position in the framework system在框架体系中的位置
Covenant Governance is the operating mode that The Home Model prescribes. Its accumulation mechanism is Trust Reserves; its failure mode is Governance Debt; its contrast case is Wolf Culture.契约治理是《家园模型》所规定的运行模式：其积累机制是信任储备，其失效模式是治理负债，其对照样本是狼文化。