What

IS BUSINESS DEVELOPMENT ANYWAY?

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 (product and market) between the firm, its customers and its market environment. More and more, Business Development is involved in Organizational change assignments i.e. process changes (e.g. customer centric supply chain) and structure changes (e.g. ecosystems) between the firm, its customers and its market environment.

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?”).

Often when undertaking change processes in organizations, companies focus on the process, the project management (‘hard skills’). While this is an important factor – it is not the critical factor. People are (‘soft skills’). When change fails, it fails because we have not taken into account the impact change has on the individuals concerned from a psychological perspective. It is about balancing the development or change of both at the same time.

Source: J.R. Schütt – DIWANIYA, 2018