Business development

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In the field of commerce, the specialist area of business development comprises a number
of techniques and responsibilities which aim at gaining new customers and at penetrating
existing markets. Techniques used include:

 assessment of marketing opportunities and target markets

 intelligence gathering on customers and competitors
 generating leads for possible sales
 advising on, drafting and enforcing sales policies and processes
 follow-up sales activity
 formal proposal or presentation management and writing
 pitch and presentation rehearsals
 business model design

Business development involves evaluating a business and then realizing its full potential,
using such tools as:

 marketing
 information management (sometimes conflated with knowledge management)
 customer service

A sound organization aiming to withstand competitors never stops business

development[citation needed], but engages in it as an ongoing process.

Successful business development often requires a multi-disciplinary approach beyond just "a
sale to a customer". Some consultants[who?]frequently recommend a detailed strategy for
growing a business in desirable ways, which may
involve financial, legal and advertising skills. Business-development practitioners cannot
reduce their activities to simple templates applicable to all or even most situations faced by
real-world enterprises. Creativity in meeting new and unforeseen challenges may help
sustainable growth.
Business-development roles may have one of two modes:

1. sales-oriented (client-facing); or
2. an operational function to support sales.

In a sales role, business development could concentrate on developing strategic-channel

relationships or on general sales. This emerges from analysis of the varied job
descriptions found in job-search engines, especially in the UK. In the US, the term "capture
management" appears as an alternative job or role title, typically used when describing
business development as an operational function to support the selling function of a
company. The Association of Proposal Management Professionals have produced the
"Capture Management Lifecycle" that describes the process in three broad stages:

1. pre-bid phase
2. bid phase
3. post-bid phase

Small to medium-sized companies often do not establish procedures for business

development, instead relying on their existing contacts. Or people in such companies may
assume that because they know people in high places that this will solve any business-
development problems and that somehow new financial transactions will come to them. Such
thinking can have significant ramifications if one cannot exploit those relationships, which
very often[citation needed] remain personal or weak. Such a situation may result in no new sales in
the pipeline.

Business-development professionals frequently have had earlier experience in financial

services, investment banking or management consulting; although many find their route to
this area by climbing the corporate ladder in functions such as operations management or
sales.Skillsets and experience for business-development specialists usually consist of a
mixture of the following (depending on the business requirements):

 marketing
 legal
 strategy
 finance
 proposal management or capture management
 sales experience
The "pipeline" refers to flow of potential clients which a company has started developing.
Business-development staff assign to each potential client in the pipeline a percent chance
of success, with projected sales-volumes attached. Planners can use the weighted
average of all the potential clients in the pipeline to project staffing to manage the new
activity when finalized. Enterprises usually support pipelines with some kind of CRM
(customer relationship management) tool or CRM-database, either web-based (such as the
salesforce.com software-as-a-servicesolution) or an in-house system. Sometimes business
development specialists manage and analyze the data to produce sales management
information (MI). Such MI could include:

 reasons for wins/losses

 progress of opportunities in relation to the sales process
 top performing salespeople/sales channels
 sales of services/products

For larger and well-established companies, especially in technology-related industries, the

term "business development" often refers to setting up and managing strategic relationships
and alliances with other, third-party companies. In these instances the companies may
leverage each others' expertise, technologies or other intellectual property to expand their
capacities for identifying, researching, analyzing and bringing to market new businesses and
new products, business-development focuses on implementation of the strategic business
plan through equity financing, acquisition/divestiture of technologies, products, and
companies, plus the establishment of strategic partnerships where appropriate.

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Product manager
From Wikipedia, the free encyclopedia

A product manager researches, selects, develops, and places a company's products,

performing the activity of product management.

A product manager considers numerous factors such as target demographic, the products
offered by the competition, and how well the product fits in with the company's business
model. Generally, a product manager manages one or more tangible products. However, the
term may be used to describe a person who manages intangible products, such as music,
information, and services.
A product manager's role in tangible goods industries is similar to a program director's role in
service industries.

Diverse interpretations regarding the role of the product manager are the norm. The product
manager title is often used in many ways to describe drastically different duties and
responsibilities. Even within the high-tech industry where product management is better
defined, the product manager's job description varies widely among companies. This is due
to tradition and intuitive interpretations by different individuals.

In the financial services industry (banking, insurance etc.), product managers manage
products (for example, credit card portfolios), their profit and loss, and also determine the
business development strategy.

In a Scrum environment, a Product Manager is also referred to as the Product Owner, and
usually has the main role of representing the product to the customer [1]. Some of the
responsibilities of the Product Owner include marketing of the product and analysis of the
competition.

In some companies, the product manager also acts as a:

 Product marketing manager — may perform all outbound marketing activities

 Project manager — may perform all activities related to schedule and resource
management
 Program manager — may perform activities related to schedule, resource, and
cross-functional execution

Responsible for planning, managing, and coordinating the product logistics of

an assigned product or service line. A Product Manager researches, creates,
and implements effective strategic marketing plans and manages multiple
tactical activities to reach a targeted audience. A person in this position
directs such activities as product/service naming, branding, pricing,
packaging, positioning, advertising/promotion, budgeting, and training. A
Product Manager may also oversee special projects such as focus groups,
surveys, and competitive evaluations, all of which provide feedback for
product/service changes and improvements and new product/service
development. A person in this position also oversees the proposal,
development, and launch of new products and services.
Sample Product Manager Job Description
Hiring managers should be clear about the job responsibilities before hiring a
product manager. This job description details the skills to look for in technology
product managers. By Steve Johnson
As Product Manager, you will guide a team that is charged with a product line
contribution as a business unit. This extends from increasing the profitability of existing
products to developing new products for the company. You will build products from
existing ideas, and help to develop new ideas based on your industry experience and
your contact with customers and prospects. You must possess a unique blend of business
and technical savvy; a big-picture vision, and the drive to make that vision a reality. You
must enjoy spending time in the market to understand their problems, and find
innovative solutions for the broader market.

You must be able to communicate with all areas of the company. You will work with an
engineering counterpart to define product release requirements. You will work with
marketing communications to define the go-to-market strategy, helping them understand
the product positioning, key benefits, and target customer. You will also serve as the
internal and external evangelist for your product offering, occasionally working with the
sales channel and key customers.

A product manager's key role is strategic, not tactical. The other organizations will
support your strategic efforts; you won't be supporting their tactical tasks.

KEY RESPONSIBILITIES

 Managing the entire product line life cycle from strategic planning to tactical
activities

 Specifying market requirements for current and future products by conducting

market research supported by on-going visits to customers and non-customers.

 Driving a solution set across development teams (primarily

Development/Engineering, and Marketing Communications) through market
requirements, product contract, and positioning.

 Developing and implementing a company-wide go-to-market plan, working with

all departments to execute.

 Analyzing potential partner relationships for the product.

REQUIREMENTS

 3+ years of software marketing/product management experience.

 Knowledgeable in technology.

 Computer Science or Engineering degree or work experience a strong plus.

 This position requires travel to customer and non-customer sites in North America
and Europe (25%).

Business Development Managers

Always seek clear objectives.Business development includes a number
of techniques designed to grow an economic enterprise. Such techniques include
assessments of marketing opportunities and target markets, intelligence gathering on
customers and competitors, generating leads for possible sales, follow-up sales activity,
formal proposal writing and business model design. Business development involves
evaluating a business and then realizing its full potential, using such tools as marketing,
sales, information management and customer service. These tasks are carried out by
business development managers.

Business development manager is also known as economist or a business planner. A

manager should devote his attention to business development and exploiting the
business opportunities that are presented to him and his organization. Business
development and making your organization successful is reliant on good knowledge of
best practice and management theories.

Adopt a team approach - work with others in pursuing

common goals.For some time, business development managers have been
stressing the urgent need for radical new approaches to the corporation. In this
paradigm, the bottom line cedes its pre-eminence to the top: the corporation
concentrates on developing new revenue streams from new products and services,
while optimizing income from existing lines through innovative marketing and rapid
exploitation of changing customer needs and tastes. The new kind of corporation is,
above all, 'agile'.

Top business development managers fret about the lack of creativity and innovation
beneath them, below the supertanker's decks, but their own decision-making processes
and command structures stultify efforts - even ones which they themselves have
promoted - to develop the new and rejuvenate the old.

The business development manager must have considerable sales experience, be an

organized and strong negotiator, and be aware of and responsive to economic trends,
government policies and currency fluctuations. A university degree in one of the
commerce, accounting, economics or business administration streams may prove useful
(although not necessary) for entry into the position.
The business development manager works to expand a company's product reach and
profit revenues. They do this by identifying new markets and attracting new clients. The
business development manager therefore researches new business opportunities,
identifies likely sales points, develops strategic plans and sales strategies, and
undertakes presentations to and negotiations with prospective customers.

In larger organizations the business development manager works with marketing and
sales departments, government and industry peak bodies. Domestic and overseas travel
is often a requirement of this position, and report writing is necessary.

In smaller businesses, business development managers answer to owners/executives.

However, in larger companies they are answerable to senior marketing and sales
executives.

Responsibility of a Business Development Manager

• Investigate the economic conditions surrounding your small business activity

such as industry trends and competition.
• Conduct extensive market research prior to starting up your business and
continue gathering information throughout the life of the business.
• Prepare a detailed business plan so you will not lose sight of your goals and
objectives.
• Secure sufficient financial resources for future development or expansion.
• Contact professional advisors such as an accountant, banker and/or lawyer to
provide expert information about your business.
• Network with other small businesspeople; establish a support group. Remember,
you are not alone.
• Attend workshops, trade shows, and seminars to keep up-to-date on changes in
the industry.
• Adopt a team approach; work with others in pursuing common goals.
• Understand the skills and qualities you bring to your business.
• Develop a situation analysis of your company including its strengths,
weaknesses, opportunities and threats to assist in the development of a strategic
plan for the future of the business.

In general, a business manager is responsible for running the business day-to-day.

Whether, a managing director in a medium-sized company or a business unit director in
a large corporate organization, this general management role is crucial to hold the
business together, and to lead the changes which will ensure future success.
Many people have experienced a manager who may not be "up to the job". In most
cases they were very effective in their previous role, but then struggle when they enter
the management arena. In sales management, for example, there is an all too familiar
pattern of the best sales operative being promoted to manage the team without
adequate thought to the development needs of that person. Coaching could provide the
new sales manager with the business management skills required for success in his
role.

Prepare a detailed business plan so you will not lose

sight of your goals and objectives.A successful business
development manager should always be seeking clear objectives particularly for those
areas of the job where there are outputs you will be required to measure and be
answerable for. Keeping the main objectives constantly in mind is essential even if they
evolve or change a bit over time. They should be able to identify the key actions that the
department is going to pursue. This shows clarity.

A business development manager should be able to present the strategy clearly to its
customers. The strategy should contain a clear vision followed by a set of clear time-
bound actions in order to achieve consistent success.

What is the role and responsibilities of a Business

Development Manager?
Role&Responsibilities:
• Pre-sales Activities: Assisting with sales proposals, tender responses,
demonstration of our software to prospective customers and discussions with them
concerning the ways in which the packages can be used to meet their requirements.
• Attendance at conferences and exhibitions.
• Presentations at seminars and User Group meetings.
• Account Development and Sales: Each User of Symology software/services is
assigned a specific Account Manager.
• The role of that Account Manager is to establish and develop a relationship with
the Customer organisation with the dual objectives of ensuring Symology provides the
best possible level of service and identifying areas where mutual benefit can be gained
by the Customer extending the use of Symology products and services.
• This aspect of the role will predominantly relate to a specific region, but will
occasionally encompass the whole of the UK and possibly overseas.
• It is the responsibility of the Business Development Manager to: liaise with
Account Managers in the development of activities on existing customer sites, with the
objective of extending the use of Symology software into further areas co-ordinate the
 sales activities of the Consultancy team in the allocated region, in order to optimise
potential.

Marketing Liaising with Marketing on the preparation of promotional material, case

studies