TO DEPLOY BUSINESS DEVELOPMENT MANAGEMENT IN MY ORGANIZATION?
Business Development in modern organizations has moved from a request-driven to a strategy-driven, managed and integrated organizational change process.
As such, Business Development Management plays an integrative role – bridging the gap between strategic intent and organizational execution.
To fulfill its purpose of being the integrative link, BDM needs to revolve around three axes. Every step is completed not as a singular event, but as a process that is concluded and followed up in collaboration with other support functions, top management and line organization.
Investigate. Pinpointing important new business opportunities including evaluating strategic positions, identifying new market segments, qualifying new market entry and supporting M&A activities.
Orchestrate. Enabling quick and fact-based decision making including co-ordinating the strategic planning process, aligning performance measures with budgets, facilitating sharing of strategic learning, ensuring ongoing follow-up and reporting and integrating strategic thinking into the annual planning cycle.
Execute. Making things happen including leading or supporting business portfolio optimization, leading or supporting process improvement programs, leading or supporting organizational change processes and evaluating strategic investments.
Business Development Management process defined
“The structured tasks and processes concerning analytical preparation of potential growth opportunities within the business strategy framework, and the support and monitoring of the practical implementation of these opportunities”