Business Development Job Description & Career Opportunities

Business Development Job Description & Career Opportunities

The ultimate aim of a business development professional is to improve an organization’s profitability by generating new prospects. These can be in the form of possible partnership ventures, a potential segment of the market, or a shift in the company’s overall business operations. The confidence needed to accomplish this entails familiarity with other disciplines related to business, such as finance, market research, sales, and planning.

Jobs related to business development can range from supervisory to executive levels. Because of the role it plays in the growth of a business, it is rarely offered as an entry-level position. In almost all organizations, business development professionals will always have a team of industry researchers and analysts.

Sales and marketing professionals with years of experience should have the advantage of progressing to business development officers and managers, given excellent credentials, extensive professional network, and proper certifications.
Business Development Job Responsibilities

The task of a business development professional is to open up a new market that will boost the income of his or her organization. This involves having a good grasp of the industry trends, which will become the bases for strategic planning and forecasting.

In identifying new business opportunities, part of the job is to collect and compare pertinent data on the target market, from which recommendations and proposals can be drawn. Seeking opportunities will often require the business development professional to leave the work desk and meet the key players of the industry.

Joining related conferences and symposiums that will extend the reach of the business is also necessary in exploring partnerships that will improve profitability. Presenting strategies for expansion and studying the company’s competitors are often listed as specific responsibilities of a business development officer. An executive, on the other hand, is called upon to initiate or close deals with top-tier executives.