Business Development

Business development is a complex science in the world of business. It involves the creation of sustainable value for a specific organisation taking into consideration the various stakeholders that is customers, suppliers and the government. The value should focus on customers, markets and relationships.

Business development involves the understanding of the three forces that affect the long-term sustainability of its existence. Customers, market forces and the relationships with other organisations are an important aspect. Business development is all about figuring out their interactions and balance them in a way that creates growth opportunities in the long term.

Business development is undertaken by a business developer. The developer requires to have special skills to ensure that he/she carries out the duties well. A business developer works towards increasing profits as well as attracting new customers at the same time maintain the existing customers, it is also important to maintain a good relationship with the stakeholders.

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