Twice in the last week I have had conversations with people who think that Procurement functions today are ‘dumbing down’ contracts. If true, that’s a big mistake and will undercut the stated ambition of the function to raise its profile and value. It is also at variance with what we see happening in at least some IACCM member organizations.
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Topics:
procurement,
relationship management,
commercial management,
communication
‘Commercial Innovation’ is increasingly recognized as a critical discipline for business survival and the delivery of value. Back in the 1940's, Nobel prize-winning economist Joseph Schumpeter made the observation that to achieve success, technical invention must be accompanied - sometimes even led - by commercial innovation.
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Topics:
commercial management
The 2018 HBR Consulting report on in-house legal spend contains interesting data. It reveals a continuing, if modest, increase in budget and a tendency towards increased headcount. Of the various efforts to increase efficiency, the adoption or use of technology appears the most prevalent. Meantime, the hourly rates of outside counsel apparently continue to increase.
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Topics:
commercial management,
organization & people
Is your organization on the path to commercial excellence? McKinsey, the global strategic consultants, are just the latest to grasp the critical role that commercial competence plays in delivering performance and growth. In a recent article, they observe that leading organizations ‘are now using superior execution rather than better offerings to outperform incumbents and drive growth’.
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Topics:
commercial management
“Memorial Sloan Kettering is in turmoil over a deal officials made to share cancer patient data with a for-profit artificial intelligence start-up.”
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Topics:
contract /commercial management,
commercial management,
contract management
Contracts – and especially contract management – continue in many organizations to be seen as largely administrative. For those who perform tasks in this area, that is never good news. Not only does it mean they lack influence and status, it means they are also often seen as dispensable.
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Topics:
commercial management,
contract management
In this edition:
- Keeping pace with change – 3 major questions for commercial teams.
- AI is struggling to make inroads within corporate legal departments.
- Is outsourcing in trouble?
- California introduces its own GDPR.
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Topics:
commercial management,
contract management
A weekly update on contract and commercial news and trends.
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Topics:
commercial management,
contracting excellence,
contract management
An article in Inside Counsel poses the question “Why would company executives want the General Counsel to report to the CFO”? It highlights the following as potential reasons:
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Topics:
contract /commercial management,
commercial management,
performance management,
organization & people
Commercial management is about understanding markets, then turning that understanding into an appreciation of the capabilities needed to meet market requirements and determining whether those capabilities can be developed, sustained and turned into profitable operations.
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Topics:
contract /commercial management,
commercial management,
contracting excellence
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