IACCM is pleased to announce that it has been working with the Business School and Law School at Leeds University in the UK to develop a new Masters program (MSc or LLM) in International Commercial and Contract Management. Available as either a two year part-time or one year full-time course, this represents a unique collaboration between a leading business school, law school and professional association.
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The growing dynamism and diversity of trading relationships in today’s volatile markets has elevated the importance of commercial and contract management. They represent essential competencies for purposes both of control and creativity, designing and delivering business-critical outcomes.
New technologies have steadily disrupted traditional business relationships and the way they are managed. This is resulting in continuous change in what relationships are formed, where they are formed and how they are formed. As a result, there is a pressing need for a fundamental shift in the role, purpose and value of contracts, which in turn depends upon continuous challenge and innovation in commercial policies and practices.
Both business and government must develop commercial and contracting competence –the ability to integrate across multiple stakeholder views and interests to develop and deliver required outcomes. This competence will in part depend on having individuals with the skills and knowledge required to lead commercial and contract management transformation and to embed organisational capability at both strategic and operational level.
BACKGROUND TO THE BUSINESS NEED
The importance of commercial and contract management in terms of responding to dynamic markets and supporting the overall strategic goals of the organization cannot be overstated. A failure to do so impacts on financial performance and, perhaps most critically, the organization’s reputation. At an operational level, weaknesses in the contracting process damage external relationships, create delays, undermine innovation and increase costs. Conversely, where commercial and contract management are aligned to the organization’s strategy, where project objectives and outcomes are clearly articulated and well managed, the cost savings and revenue improvements are significant, reputation is enhanced, and problems and risks minimized. The scale of commercial and contract management in both the public and private sector, their economic importance, social role and impact on the bottom line is immense.
This program offers organizations and individual practitioners the opportunity to develop the skills, methods and connections that are needed to modernize commercial competence and compete effectively in today’s demanding markets.