Business Development

• Business development encompasses a wide scope of ideas, activities, and initiatives that a business owner and management implement with the goal of making the business better.
• Business development can include many objectives, such as sales growth, business expansion, the formation of strategic partnerships, and increased profitability.
• Successful business development impacts every department within a company, including sales, marketing, manufacturing, human resources, accounting, finance, product development, and vendor management.
• Business developers should be aware of new market opportunities, possibilities for expansion, competitor developments, and the current sources of the company's revenue.