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From a layman's perspective, I would say commercial practice refers to carrying out some business process. I think I have heard this used in the context of "we want our company to use the best commercial practice for ... (whatever)". You want your company to adopt (or create) the best commercial practice in your industry so that potential clients will think of your company as being the best in your industry.
If you are GM, and everyone thinks that Lexus has the highest level of automobile quality (and probably profit-per-vehicle), then Lexus has the best commercial practice, and the other companies want to do what Lexus does. If your company has a high rate of employee turnover, then you want to know what company has the lowest turnover. That company has the best commercial practice in terms of retaining employees, and you want your company to do the same things that company does, or better.
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∙ 16y ago
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