What Is The Role Of Business Development?

What Is The Role Of Business Development?

1 Answer

  1. Business development is the activity of creation of long term value for business through development of relationships, markets and customers.
    Pursuing strategic opportunities is a way of creating value for business.
    Following are the steps for business development process:
    1. Identifying loopholes in competitors strategies and strategizing a plan to utilize their weakness as our strength.
    2. Goal setting is an important part of business development to keep the team focused.
    3. Analyze the available information to proceed with the plan.
    4. Develop a strategy to meet the goals and define a realistic time period to do so.
    5. Map your stakeholders.
    https://www.feedough.com/what-is-business-development/ article is a good read on the topic.

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