Most business owners are looking for new ways to get their products out into the market and known by consumers. They are also looking for ways of making sure they continue to stay in business by adapting to the fast changing business environment. The question they find themselves asking time and time again is HOW to do this. In the weeks ahead the discussion will be centered around Sustainable Business Development and answering the important question of HOW to develop a business in a sustainable manner. Today’s post will start off by looking at what business development is and as always the rest of the goodies regarding sustainable business development will be unraveled.
Business development is a term which takes its roots from the world of business and commerce. It generally comprises tasks and processes that are designed to develop and bring about sustainable growth in a business. In today’s dynamic and vibrant business environment, the fusion of information technology with traditional business practices, advance marketing techniques, detailed accounting of activities, ground breaking sales and customer relations development all form part of business development. We have made an attempt to give meaning to WHAT business development is, but the question of WHO brings about business development needs to be addressed.
Through the use of analytical thinking and problem solving the business developer is tasked to find potential growth opportunities and implement best strategies and practices that will help an organization take maximum advantage of its opportunities. In the implementation of task and processes that will bring about potential growth opportunities, it is key for the business developer to pay close attention to feedback from the organizations working units such as production, marking, sales, and operations. Oops that tip wasn’t supposed to come out until later. But I guess now we know feedback is key in bring about sustainable business development. What more does a business developer do to achieve sustainable business development? Stay tuned to our next blog post for more tricks and tips. To learn more about what has been discussed in this blog post, visit us at www.sigmastrat.com .