In today’scompetitive business landscape, effective contract management is a cornerstone for success in selling organizations. It serves as the backbone for maintaininghealthy client relationships, ensuring compliance, and driving profitability. Whether managing procurement contracts or sales agreements, the contractmanagement function is integral to aligning organizational objectives with client needs.
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As a Contract Manager, your responsibilities include managing the company’s contracts with suppliers, vendors, clients, and stakeholders. During times of economic downturn or recession, it is essential to be prepared and take proactive steps to ensure the company’s financial stability. You will need to help the accountable executives to make the right calls in time in a proactive manner.
Here are five key things that every Contract Manager should do when a recession is on the horizon:
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I use the word ecosystem a lot. This term from biology is not the same in business. In this post I eleborate on the difference between a business ecosystem and a biological ecosystem.
A biological ecosystem refers to the complex network of living organisms, including plants, animals, and microorganisms, that interact with one another and with their physical environment. In contrast, a business ecosystem refers to the network of organizations, individuals, and other stakeholders that interact with one another in an economic ecosystem.
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If I was working today in a large corporation I would not call myself wizard but probably CEO. Not because I have that power level dream (once I did but entrepreneurial life is way more fun) but because the title can be another acronym….
So let’s talk about the Chief Ecosystem Officer.
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A specific field of play when managing contracts is about the importance of cyber. Today a small dive into the relevance and why I think every contractmanager should understand it a bit.
[Read more…] about Businesses need a dedicated chapter on cybersecurity in all of their contractsThis website uses cookies to ensure you get the best experience on our website. More information
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