Traditionally, researchers & consulting agencies have described contracts as 'the life blood of an organisation'. I would rather slightly depart from this custom and state that contracts are the spinal cord of the organisation. I see 'Contracts' as the framework of a relationship and their focus on managerial decision making - in the same way as the spinal cord which translates the neural signals from the brain ('Management') to the rest of the body ('other entities' of business environment) and also contains neural circuits that can independently control numerous reflexes ('Proactive').\r
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N. BALACHANDAR, Manager-Contract Administration & Management, Technip India Limited
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