What Are the New Ways of Thinking in the Field of Commercial Management?

Posted on March 18th, 2023

In recent years, there have been several new ways of thinking in the field of commercial management that have emerged due to changes in the business environment and advancements in technology. Some of these new ways of thinking include:

1. Customer-centric approach: Companies are increasingly realising the importance of putting the customer at the centre of their business strategy. This means understanding the customer's needs, preferences, and behaviour to offer a more personalised and relevant experience. This approach can be achieved through the use of data analytics, customer segmentation, and targeted marketing.

2. Digital transformation: The rise of digital technologies has transformed the way businesses operate. Companies are leveraging technology to streamline their operations, enhance customer experience, and gain competitive advantage. This includes the use of artificial intelligence, cloud computing, and big data analytics.

3. Agility: In today's fast-paced business environment, companies need to be agile to adapt to changing market conditions and customer needs. This means being flexible and responsive and making quick decisions based on data and insights. Agile methodologies such as Scrum and Kanban are being increasingly adopted by companies to improve their operations.

4. Sustainability: There is a growing awareness of the impact that businesses have on the environment and society. Companies are increasingly adopting sustainable practices to reduce their carbon footprint, promote social responsibility, and enhance their brand reputation.

5. Collaborative partnerships: Companies realise the benefits of collaborating with other businesses, both within and outside their industry. This includes forming strategic partnerships, joint ventures, and alliances to share resources, expertise, and market access. Collaborative partnerships are often based on relational contract management, emphasising long-term relationships and mutual trust between partners. Relational contract management involves focusing on the overall success of the partnership rather than individual gains and working collaboratively to resolve any issues or conflicts that arise. By adopting a relational approach to contract management, companies can build stronger partnerships and achieve greater success.

[1]Scrum is an agile project management methodology used to manage complex projects. It is based on the principles of transparency, inspection, and adaptation. The Scrum framework involves a series of events, including daily stand-up meetings, sprint planning, sprint reviews, and sprint retrospectives. The team works in short sprints, typically 1-4 weeks long, to deliver a potentially shippable product increment at the end of each sprint.

[2]Kanban is a lean project management methodology that is used to manage workflows. It is based on visualising work, limiting work in progress, and optimising flow. The Kanban framework involves visualising the workflow on a Kanban board, setting work-in-progress limits, and using pull systems to manage the workflow. The team focuses on delivering work items one at a time, prioritising based on customer needs and optimising the flow of work to deliver value faster.

Overall, these new ways of thinking are driving a shift towards a more customer-centric, technology-driven, agile, sustainable, and collaborative approach to commercial management.