Commercial Awareness
When teams focus on their specific day-to-day responsibilities, commercial considerations can take a back seat. Developing a commercial mindset can make an immediate impact on the bottom line.
Commercial awareness can provide priority and focus to a change programme that enables managers and their teams to understand their commercial objectives, drivers of performance and cost of doing business.
The aim of a commercial awareness programme is to improve the quality of commercial decision-making through broadening knowledge and scope of thinking. This includes understanding revenues, costs and opportunities for improvement on the one hand, and customer expectation and actual experience on the other.
To ensure success, managers need to be supported by timely and regular management information allowing them to monitor progress, fine-tune actions, and deal with problems in an effective way. Hand-offs in cross-functional processes usually result in delay and added cost and can affect results in an end-to-end process. A management focus on building healthy relationships across the process formalises outcomes in delivering an excellent customer experience and helps establish cost-effective operational activity.


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