Business development , German business field development or corporate development , often mistakenly also business development , describes the targeted measures for the further development of an economically oriented organization . The techniques used in business development include a. the evaluation of marketing opportunities and sales markets , the business analysis of customers and competitors , the initiation of future business and follow-up business as well as the writing of business plans and the design of specific business models .
Concrete business development measures usually begin with the evaluation of an innovative business area or a business area that has not yet been developed by the organization. In the course of the evaluation, information from the areas of product management, marketing, sales and customer care can be used. Depending on the overall picture, new business designs may then be developed. In everyday economic life, business development is usually not a punctual measure, but a continuous process.
As a discipline, business development cannot be reduced to a few standard procedures that can be applied equally in all situations. Successful business development is mostly based on an interdisciplinary approach. Creativity and the willingness to question existing thought patterns and to face new and unforeseen challenges are an essential characteristic of this activity. The customer perspective in business development goes beyond the pure sales idea. In addition to creative activity, financial planning , legal aspects and advertising concepts often play an essential role in the development of business drafts .
Many small and medium-sized companies do not have structures and processes for business development, but rather rely on maintaining existing customer contacts. In larger, especially technology-oriented companies , business development is taken care of, but is often limited to maintaining strategic partnerships and alliances . In such situations, those involved typically use the partner's expertise, technology, or intellectual property to expand their own products , services, or market reach without having to build up their own internal resources.
- Lutz Becker: Sustainable Business Development Management: Strategies for Transformation. Wiesbaden, 2017, ISBN 978-3-658-20088-6 .
- Lutz Becker, Walter Gora and Tino Michalski (eds.): Business Development Management. From the business idea to implementation. Düsseldorf, 2014, ISBN 978-3-86329-613-1 .
- Hans Eibe Sǿrensen: Business Development. A Market-Oriented Perspective. West Sussex, 2012, ISBN 978-0-470-68366-8 .
- Volker Wehmeier: Business development: guidelines for business development and new business. 2007, ISBN 978-3837003246 .
- Sonja R. Kind: Business Development in the Biotech Industry: Tasks, Organization and Implementation. 2007, ISBN 978-3836420969 .
- business is the direct translation of business development . Occasionally found on business cards or sets of slides, the term business development is not used in scientific discussion because it can be misunderstood. So he's a fake friend .