April 29, 2014

About business development

Business development is one of those terms used by everybody, but nobody really knows what it means.

Business development (BD) is the creation of long-term value for an organization from customers, markets, and relationships. BD is a combination of strategic analysis, marketing, and sales.

Business Development – Enterprise development; the activity that increases, or is intended to increase, the profit, production, or service potential of an enterprise; investment of capital and time that causes, or is intended to cause, the growth and expansion of an enterprise; the process of moving a business towards the point where it can provide its services and products to the entire outside group that wants them; the promotional side of business networking; persuading, or intending to persuade, prospects that appear to have the potential become customers, clients, or buyers; the process of promotion to build and sustain working relationships that relate to the business purpose.

Source: www.findmehere.com/glossary/index.htm (18/03/2003)