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