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Commercial Management Theory and Practice

by: Lowe, David

ISBN: 9781405124683 | 1405124687

Edition: 1st
Format: Paperback
Publisher: Wiley-Blackwell
Pub. Date: 7/29/2013

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Summary Table of Contents Author Biography

This textbook provides a one-stop-shop to the many topics in commercial management. It draws on material developed as distance-learning modules and divides into four main sections: I - The commercial environment: develops a critical understanding of the environmental factors that influence commercial management; II - Techniques: develops an understanding of the various techniques used in commercial management; III - Commercial Strategies and Tactics: develops an understanding of the principles and practice of competitive bidding and bid evaluat... MOREion; IV - Legal aspects: develops an understanding of the legal issues influencing commercial management. Examples and illustrations are included from both the private and public sector.

his textbook provides a one-stop-shop to the many topics in commercial management. It draws on material developed as distance-learning modules and divides into four main sections: I - The commercial environment: develops a critical understanding of the environmental factors that influence commercial management; II - Techniques: develops an understanding of the various techniques used in commercial management; III - Commercial Strategies and Tactics: develops an understanding of the principles and practice of competitive bidding and bid evaluation; IV - Legal aspects: develops an understanding of the legal issues influencing commercial management. Examples and illustrations are included from both the private and public sector.

Commercial Management: theory and practice defines the role of commercial management within project-oriented organisations, providing a framework for and helping to develop a critical understanding of the factors that influence commercial management practice. It also identifies generic aspects of this practice and provides a theoretical foundation to these activities, by reference to existing and emergent theories and concepts, as well as to relevant management best practice.

The book is structured into four parts: Part 1 Introduction � Commercial Management in Project Environments explores the nature of commercial practice within project-oriented organisations at the buyer-seller interface. It presents a Commercial Management framework, which illustrates the multiple interactions and connections between the purchaser�s procurement cycle and a supplier�s bidding and implementation cycles. Additionally, it outlines the principle activities undertaken by the commercial function, identifies the skills and abilities that support these activities and reviews the theories and concepts that underpin commercial practice. Finally, it identifies areas of commonality of practice with other functions found within project-oriented organisations, plus sources of potential conflict and misunderstanding.

Part 2 � Elements of Commercial Theory and Practice covers commercial leadership; exploring strategy; risk and uncertainty management; financial decision-making; and key legal issues. Part 3 � Approaches to Commercial Practice addresses best practice management; and commercial and contracting strategies and tactics. Finally, Part 4 � Case Studies offers two extended case studies: Football Stadia (the Millennium Stadium, Cardiff; the Emirates Stadium, Islington; and Wembley Stadium, London); and Heathrow Terminal 5.

The book provides a one-stop-shop to the many topics that underpin commercial management practice from both a demand (buy-side) and a supply (sell-side) perspective. It will help develop an understanding of the issues influencing commercial management: leadership, strategy, risk, financial, legal, best practice management and commercial and contracting strategy and tactics.

This book�s companion website is at www.wiley.com/go/lowecommercialmanagement and offers invaluable resources for both students and lecturers:

� PowerPoint slides for lecturers on each chapter

� Sample exam questions for students to practice

� Weblinks to key journals and relevant professional bodies

Part 1 & - The Commercial EnvironmentChapter 1: The role of commercial managementChapter 2 - Economic issuesChapter 3 - Competitive Advantage TheoriesChapter 4 - Corporate StrategyChapter 5 - MarketingChapter 6 - Cross-cultural aspectsChapter 7 - Creativity within OrganisationsChapter 8 - Bidding and Bid Evaluation & - Clients & ' Processes and ProceduresPart 2 & - TechniquesChapter 9 - Decision-makingChapter 10 & - Risk managementChapter 11 & - Value managementChapter 12 - PlanningChapter 13 - EstimatingChapter 14 & - NegotiatingChapter 15 - C... MORE

David Lowe - Programme Director for the distance learning MSc in Commercial Management and for the MSc in Project Management; and Peter Fenn � Senior Lecturer. Both at the Manchester Centre for Civil and Construction Engineering, UMIST

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