With each passing day, the need for new commercial capabilities becomes more evident – and to support this, commercial groups must change.
Gone are the days when business to business relationships were marked with adversarialism and contention. The narrow views typified by sales and procurement (to a high degree) and legal (to a significant degree) are destroying value. Trading parties must increasingly cooperate to deliver efficient and effective results.
Adversarial and arm’s length behavior carries a tremendous cost. It frequently results in selection of the wrong supplier or confusion over requirements. It prevents proper definition of scope or goals and the creation of effective performance measures or governance techniques. This results not only in expensive claims, disputes and changes, but it adds enormously to operating costs through inefficient use and deployment of resources.
At this week’s IACCM Europe conference, sales guru Neil Rackham acknowledged how the world of selling must alter…
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For commercial lawyers, the practice of law is transforming. Acting as a semi-independent advisor on specialist risk and legal issues is no longer enough. Today, the business expects much broader appreciation of opportunities and challenges – and that the support and contracts produced by lawyers will directly contribute to the best possible outcome.
Lawyers are no longer operating purely at a transactional level seeking to protect assets and avoid worst-case scenarios. They are being called upon to assess the wider economic consequences of the agreements they help put in place.
Many in-house counsel – and some law firms – would argue that they have always been ‘business advisors’ and in some cases I would agree. But the demands today go much further. As trading relationships change, the nature of legal support must also change. Here are a few of the factors and examples of their impact:
1) many trading relationships now focus on longer-terms outputs…
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Audit tendering process will force procurement professionals to go beyond traditional boundaries by Jon Hansen
Traditionally I have not been a fan of press releases. This of course should come as no surprise to anyone who has been following this blog for any length of time.
Generally speaking, press or news (and I use the word “news” loosely here) releases, are little more than self-serving flatulations of meaningless proclamations, designed to somehow elevate the profile of the writer be it a company or individual. Let’s be honest here, how many of you out there have upon reading a press release, jumped up out of your chair to proclaim “I gotta get me that!”
All this being said, and similar to the frequency in which I ingest chemical-laced sweet heat chili nacho chips from Doritos – my one only real vice – I actually do read almost all of the press releases that cross my virtual desk. It is the ultimate indulgence in literary junk food. Most…
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