Commercial
The Trust is responsible for setting the overall strategy for the Ä¢¹½¶ÌÊÓÆµâ€™s commercial operations and for setting an approvals framework within which to assess commercial proposals from the Ä¢¹½¶ÌÊÓÆµ Executive.
The Executive is responsible for the day-to-day delivery of the commercial strategy set by the Trust. All the Ä¢¹½¶ÌÊÓÆµâ€™s commercial activities must comply with the four commercial criteria set out in the Ä¢¹½¶ÌÊÓÆµ Agreement. They must:
- fit with the Ä¢¹½¶ÌÊÓÆµâ€™s Public Purpose activities
- exhibit commercial efficiency
- not jeopardise the good reputation of the Ä¢¹½¶ÌÊÓÆµ or the value of the Ä¢¹½¶ÌÊÓÆµ brand;
- comply with fair trading guidelines and in particular avoid distorting the market.
The Ä¢¹½¶ÌÊÓÆµ Trust is responsible for ensuring that the Ä¢¹½¶ÌÊÓÆµ Executive complies with these requirements. Where specific commercial proposals fall outside the approved strategy, are of a value of over £30 million, or are potentially novel or contentious, specific Trust approval is required.
The Ä¢¹½¶ÌÊÓÆµâ€™s biggest and most important commercial operation is Ä¢¹½¶ÌÊÓÆµ Worldwide.
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