Business Development as ‘discipline’ is the continuously creation of economical and social value for an organization from a market perspective i.e. its customers, markets, sectors, suppliers, partners and other commercial relationships.

Traditionally, Business Development focuses on Marketing changes i.e. changes in business offering (products and markets). In modern organizations, Business Development is inter-related with Organizational changes i.e. changes in business processes (e.g. customer centric supply chain) and business practices (e.g. business ecosystems and social innovation).

Clearly, Business Development is a subset of the fields of business economics, commerce and organizational theory, converged on the sweet spot of growth opportunities at business level (“how to compete?”).

When undertaking change processes in organizations, companies focus on shaping the tasks (‘hard side’). While this is an important factor – it is not the critical factor. People are (‘soft side’). When change fails, it fails because we have not taken into account the impact change may have on the people involved. Biz Dev management is all about balancing of both at the same time.

Source: Modern Biz Dev; Alpha, Beta and Gamma in one [J.R. Schütt – 2012]