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Business development strategies

The idea of business development has been associated, more or less, to boosting the sales effort. The growing complexity of the international business landscape, the increasing importance of entrepreneurial ventures and the adoption of new managerial styles and organisations within multinational companies has totally changed this simplistic approach.

Demand creation is no longer solely a salesforce job, on the contrary it now covers several key processes across the company..

Business developers today play a significant role within the organisation. They sit at the very heart of company decision-making strategy, providing analytical inputs for setting future growth paths.

Their role forces them to gather relevant knowledge on the target market, the internal capabilities of the company and the technological landscape. For this reason they usually bring strong know-how on marketing, investing or management consulting.

And beyond that, networking is a very powerful tool as more and more international business development relies not on organic growth of the company’s international business, but in the creation of powerful partnerships. This explains why the entrepreneurial developer is ever more concerned with planning future growth based on symbiotic growth of the company within a complex ecosystem of partners.

The basic strategies for company development still are: Growth in new markets (either locally or internationally) or growth through new product development.

The implementation and internal resources involved are, of course, very different in either case but always need to be carefully studied and simulated through significant scenarios and field research, for these decisions are lasting and of high impact in the future evolution of the company.

In the increasingly complex international business scenario, only managers with a solid background, entrepreneurial spirit and extensive experience, will be able to envision and build strategies for success.

Author: Dr. Ramon García-Rojo


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