Better Business Davos Sustainable Developmen

Abstract

Business Development is that you will be responsible for setting the organization’s long-term targets and strategies, building customer relationships, identifying business opportunities, conducting business negotiations, and monitoring market developments. Business development managers work at the senior level in sales. He can work in various fields such as construction, manufacturing, food industry, petroleum, and so on. So in addition to the business aspects, a business development manager must understand the industry they are in. Companies that are united with interested parties, including shareholders for the interests determined by these important objectives. Asset owners and asset managers prefer businesses based on non-financial factors that exceed traditional financial reporting. In response, many companies requested their focus on long-term estimates based on supported business models. One challenge for companies and investors is competing standards, metrics and measurements, and no one supports work that is well-established or generally accepted for long-term viability determined through the social value prism. As previously agreed, the overall business development process is a matter of portfolio management. At any time, a successful business development program must have a number of concepts in various fields of development and contribute to different dates for commercialization. This is suitable for classifying projects based on time for commercialization as: (1) direct commercialization, in two or three years; (2) short-term development programs are limited to 4 to 6 years; and long-term program on the horizon.

The management function in developing this new business is also to activate the process to make the company go forward. Good management must provide support, guidance, and decisions for the process in order to achieve the desired company targets. Leadership starts from the top. Management that determines the transition process. micro or management destroys processes. Any person who cannot provide “direct” assistance in the process cannot be involved. The most important element in business development is the leadership and quality of the people involved. Leaders may have any rank, but they all have the ability to attract, recruit, and retain “good people”. This is very important for intrapeneur, because it will through other people he will acquire the additional skills and expertise he needs to develop business concepts.

Summary

In conlusion Business Development is a combination of strategic analysis, marketing and sales, operations, financial analysis of product or service development and creating marketing strategies. As a professional business development we must think creatively about everything we know about the company. As a business development must prioritize the new business opportunities that we have identified. To do this, it is enough to compare the potential of all aspects according to the conditions of the company (whether it is Branding, Profit, Expansion, etc.). And in the end we have to create new opportunities that have been identified and prioritized according to the direction and targets set by the company. so that this company can be more developed and much in the interest of many consumers and in this case you will negotiate with people in the company. This can help you make a decision to execute the identified opportunity. And, if the priority scale has been agreed together with the policy makers, then at that time the organization can start coordinating the internal organization to be able to improve the bottom line within the company.

Reference : https://www.weforum.org/agenda/2020/01/better-business-davos-sustainable-development/