subject: Business Development Helps The Companies To Grow! [print this page] business development is the foremost concern of any business. The manager of an organization has to devote attention to exploit business opportunities that are present. In a broad term, it is a process in which the bond with the existing clients is strengthened. For the accomplishment of this objective, business development crosses the traditional barriers between marketing, sales, customer support and management. An organization that wants to create an edge over its competitors never stops the process of business development. Business development roles have two modes they are client- facing as well as operation that can support sales. Business development managers have experience in financial, investment banking as well as management consulting. The skills of the business development mangers consist of various competencies like marketing, sales, strategy formulation, legal and financial.
For the well established business firms especially that are related to technology, business development means setting up and management of strategies as well as third party companies. Business development focuses on the implementation of business plans. Techniques that are included in the process of business development consist of assessment of target markets along with present marketing techniques. They also generate leads for the possible sales that can be generated. Business development process can be applied to any business under any situation. Small companies too need this process so that they can remain stable and achieve growth along with time. As, such it can be said that business development is a process in which the companies strive for securing better position for themselves in future.
