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Business Development
Business Development is a long term and continues process of systematic combinations of strategic analysis and marketing management based on the core activities or new expansion activities of an organization to explore in the potential market in line to increase the business growth in the future.
Strategic Management
The management of an organization's resources in order to achieve its goals and objectives. Strategic management involves setting objectives, analyzing the competitive environment, analyzing the internal organization, evaluating strategies, and making sure that the strategies are rolled out across the organization.
Marketing Management
Many definitions exist with different emphasis on functional process and activities that constitute marketing.
According to Charted Institute of Marketing: Marketing is a managerial process responsible for identifying, anticipating and satisfying consumer requirement profitably.
Whereas according to American management Association: Marketing is a process of planning and executing the perception, pricing , promotion and distribution of goods, ideas and services that create exchange to satisfy the organizational and individual requirements.
Business Development Concept
After careful review and deep study of the core business activities, develop strategies for business growth on a timely manner in relations with marketing strategies. Closely monitor the feedback and make changes as per the requirements.
Management Concept
Business development is closely working with top management of any organization, so that, focus more on the management strategies and accordingly make amends on development strategies.
Human Resource Concept
Recruit only efficient and result oriented staff in your team for better results, as market is so competitive and management is always looking for the better results for profits, no need to waste our time with fresh candidates. Most of entrepreneurs are looking for immediate profit and sudden growth of any business, they are not bothered about the market risks. In fact, market driver and result oriented staff in the team of business development is most important for strategic growth.
Digital marketing Concept
Global Companies are spending millions of dollars for digital marketing, it shows that it is one of important stand on the present competitive market and as a part of business development strategies. Careful planning and implementation of strategies are highly important throughout the digital marketing process.
Marketing Concept
The following points are to be very careful on this sector, implementation of effective marketing strategies, market research and deep study, market segmentation ( if required). Systematic approach and arrangements for product discovery, product production with modern machineries, innovative pricing technique, modern promotion methods, reduce distribution expenses and time with systematic distribution channels, profit oriented sales team or professional execution team is another important concept in business arena.
In simple sense, ideal and effective marketing method or strategies are the backbone of any business, if not implement carefully then the business might be on the verge of failure.
In the field of trade, specializing in business development includes a number of techniques and responsibilities which aim to gain new customers and penetrate markets in the region. Techniques used include:
Assessment of marketing opportunities and target markets
Intelligence gathering on customers and competitors
Generating leads for possible sales
Providing advice and drafting and imposition on policies and processes Sales
Follow-up sales activity
A formal proposal or management and Write
Rehearsals advertising and display
Design business model
Business development including business valuation and then realize its full potential, using tools such as:
Marketing
Information management (and sometimes confused with knowledge management)
customers service
Sound organization designed to withstand competitors never stop Ttoiraloamal [citation needed], but they are involved in it as an ongoing process.
Successful business development often requires a multidisciplinary approach beyond just "a sale to the customer." Some Braala_i_arien [of?] Often recommend a detailed strategy for the growth of the business undesirable ways, that is possible that we include financial and legal skills and advertising. Business Development practitioners can not limit their activities to simple templates applicable to all or even most cases faced by real-world companies. Creativity in the face of new challenges and unexpected may help sustainable growth
You must have a holistic view of business operations including consideration of both the structures and values perceived by the customer.
You must first master well the rules of the global and international organizations such as the World Trade Organization, the International Monetary Fund, the World Bank
You must master the global standards and techniques used in the production and consumption
Learn how to develop the part of the company in the market
Increase the company's growth rate
Techniques and methods in all areas of management and production
The product range
Consumer habits
Supply chains
Financial markets: the exchange rate, interest rates.
You must be updated of all developments in the field of global marketplace.
You must learn how to:
- Increase the volume of business, thus increasing the operations of the company
- Directing the energy to customers and markets
- Generate new business
- Generate creativity and the driving force in the organization by focusing on customers and their needs
- Improve the quality
- Maintain and preserve the organization
- Equilibrate the efficient use of resources with the value perceived by the customer
Thank you for inviting me precious to answer your inquiry The world has become a competitive and job security has become a thing of the past with the complex mazes that have emerged due to globalization and the increasing control of large global companies on the market. A recent study by Bayt, more than 6,000 employees in the Middle East, have shown that the majority of them in the past five years to occupy at least two, and that 30% of this majority may Chglo four jobs or more. So, how does one ensure the continued success and professional career midst of this chaos and continuing challenges? So you should know the career site that would like to be in it in the future and develop a time plan and realistic goals that can be achieved in a year, three years and the next five years. You should review the plan periodically to make adjustments Owalthasinat if necessary. And then Almstmrho learning of the greatest investments, which is an obligation on everyone who wants success in his career. Each of us has the skills, the value of irreplaceable Guerin mastering these skills does not exclude working on the development and improvement through training and continuous learning. For every person that takes on the responsibility for the development itself, its capabilities and professional skills in order to stay ahead of the curve. We aspire always literal meaning and for continuing to work to embody, and looked to be a resource that can not be dispensed with in your field. Considered good reputation of the most basic factors that help to get a promotion or increase in salary. Every employee that focuses in his work on aspects that affect the operation of the company and its effectiveness. Also, professional success is not limited to the number of hours worked by one, but rather depends on the value of the final product. The best ways for career excellence is honesty in love with the work. The enthusiasm is easily seen and have a clear impact on others in the company as well as your customers where Stgdam attracted to you whenever there is enthusiasm and passion for your business visible. And thank you for your reading
To be competitive in the global economy, businesses must incorporate integrated strategic business planning into their daily operations
Creating the key components of a business plan
Understanding and interpreting core corporate financial reports
Researching and identifying potential market niches
Targeting and persuading global customers
Identifying and developing leadership and business communication skills needed to work across the cultures
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Agreed with Mr. Ashraf's answer...thanks for invitation
You can become a development professional through regular training and learning.
those training and learning should help you to be innovative, creative and smart so that you can either withstand or beat competition
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A sense of "responsibility" is the most important parameter for a business development professional. Not every time good academic and professional achievements can solve many problems. Many BD people fail to realize that how much a company will loose if they do not give output what a company is expecting from you. So companies should conduct a small session with BD people not only to hype their profits but also to share the looses as well with the bad experience of previously employed people on the same position. Which will give an understanding to them(BD)people that apart from dedication they require a lot of things and once an employee realizes how important his role and he/she is then company grows and multiplies its growth with employees.
Thank you
You become a better business development professional by keeping up with current and future trends in global/international marketing. With so many new advancements in technology and in the way we communicate with one another across the globe, it is definitely imperative that we keep up to date on new marketing advancements regardless of where we are in the world. By studying the market and understanding how people interpret what they see when it comes to marketing and advertising, you automatically become a better professional. Not only do you now comprehend the way they see the world, but now you understand how to capture their attention in the future.
