Institute of Commercial Management | Qualification Subject

Commercial Management

ICM Professional Diploma Unit

This qualification is a new Single Subject and will be awarded as a Single Subject Certificate from June 2023.

Commercial Awareness

  • Introduction to commercial management
  • Profit
  • Cash
  • Order book
  • Intellectual property
  • Contracts
  • Business analyses
  • Check list

The Contract

  • Introduction to contracts
  • Law
  • What is a contract?
  • Types of contracts
  • Contract formation
  • Types and formation of contracts
  • Early lessons
  • The terms of a contract
  • When things go wrong
  • Legal remedies
  • Breach and damages
  • Sale of Goods Act
  • Product liability
  • Contract negotiation
  • The content of the contract
  • Contract layout
  • Contract requirements
  • Bringing the contract into effect
  • Purchase and instructions
  • Changing the contract

Commercial Relationships

  • Introduction to Commercial relationships
  • Competition
  • Confidentiality
  • Suppliers and subcontractors
  • Purchasing, procurement, buying and outsourcing
  • Procurement
  • Prime contractors and subcontractors
  • Partnerships and partnering
  • Consortiums and joint ventures
  • Preliminary agreements
  • Full agreements
  • Ancillary agreements
  • Multi-party agreements
  • Licences


  • Introduction to Negotiation
  • Negotiators
  • Definition of negotiation 
  • Prior events
  • Purpose and importance
  • Serious matters
  • Preparation
  • Negotiation planning
  • Following the leader
  • Questions and information
  • Rough and tumble 
  • Win/win

Example Candidate Response Booklet

Example Candidate Response (ECR) Booklets are a source of crucial information for Centres and Candidates as they use real candidate responses. We ask Senior Examiners to comment on five or more responses in terms of why the mark was awarded with commentary about how to improve the answer (if necessary).

Recommended Reading

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Indicative Text:

Alternative Text and Further Reading: