Business Development
In the limited scholarly work available on the subject, business development is conceptualized as or related to discrete projects, specific modes of growth, and organizational units, activities, and practices. Sorensen integrates these different perspectives with insights from CMDs, senior business developers and venture capitalists from successful high-tech firms from Europe, North America and India into one general construct. In this perspective, business development refers to:
"the tasks and processes concerning analytical preparation of potential growth opportunities, the support and monitoring of the implementation of growth opportunities, but does not include decisions on strategy and implementation of growth opportunities" (Sørensen, 2012, p. 26).
These tasks and processes are performed by business developers. Given the nature of business development activities, the business development function is typically organized as a staff function.
Read more about this topic: Business Development
Famous quotes containing the words business and/or development:
“...we shall never be the people we should and might be until we have learned that it is the first and most important business of a nation to protect its women, not by any puling sentimentality of queenship, chivalry or angelhood, but by making it possible for them to earn an honest living.”
—Katharine Pearson Woods (1853–1923)
“John B. Watson, the most influential child-rearing expert [of the 1920s], warned that doting mothers could retard the development of children,... Demonstrations of affection were therefore limited. “If you must, kiss them once on the forehead when they say goodnight. Shake hands with them in the morning.””
—Sylvia Ann Hewitt (20th century)