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Business management has rapidly grown into one of the most sought after disciplines of mode
times. Global corporate houses hire specially trained graduates in order to bring scientific rigour into business practices. Universities and colleges provide separate business courses, while several management schools have been established over the last three decades. Business development is a sub-field of business management and aims at developing the business of a particular company using methods and tactics of business management. Business development assignment help is now provided by MyAssignmenthelp.com.
But let us first see what is business development, what are the main areas covered by it and what are its main strategies.
Business development as noted before is an interdisciplinary area of business studies. It incorporates perspectives from organizational theory, business management and commerce. The discipline has evolved into a number of sub-disciplines so much so that, today, IT programmers, specialized engineers, marketers, sales agents etc have tasks related to business development. A job of a business developer is to develop a growth plan and then put that into execution. In the development phase, the business developer collaborates with the production, marketing and the R&D teams etc.
Business development professionals need skills in all the areas of business management, including:
Let us discuss each of these areas separately to find out how each of this area contributes to the discipline of business development.
Finance deals with allocation of assets and liabilities of either an individual or a company or a gove
ment during periods of both certainty and uncertainty. There are three main areas of finance:
From the point of view of business development, knowledge of the financial state of a company helps to frame strategies to increase business and reduce costs. There are three types of financial report that declares the financial state of a company. They are:
Marketing deals with the communication of the value of a product to the customers in order to maximize the profit-making motivations of a company. Marketing has traditionally involved 4 distinct aspects: price, product, promotion and place. Any business development strategy has to take into account the 4Ps of marketing mix.
Strategic management refers to the formulation and implementation of strategy based plans usually undertaken by the top management of a company on the behalf of the board of directors and shareholders based on a careful analysis of the inte
al and exte
al environment of the company. In recent years, the focus of strategic management has shifted from the production process to the marketing processes. Strategy based planning and executions are essential for business development.
A part of strategic planning, merger refers to the coming together of two or more companies, while acquisitions refer to the taking over of one company by another. Mergers and acquisitions, as they are called together, consist of distinct stages. They are:
They involve the various legal aspects of conducting a business. Most of these laws are commercial in nature.
It refers to the study of proposals for the capture of new businesses.
Business developer has to have knowledge of all these areas. He would then combine his knowledge of all these areas to come up with successful business development policies. He must be aware of the financial situation of the company, the competitive advantage of the company, the ways of finding capital for newer projects etc. Business development over the years has grown into an independent field of business itself. Several companies now provide business development solutions based on prior research.
One interesting business development strategy is the “pipeline”. It refers to the flow of the potential clients which the company has started developing. Each business development strategist provides each client in the pipeline with a business development plan containing:
Thus we see that business development is a rather complex discipline which includes a number of allied fields. A business developer therefore must have a bit of knowledge in everything: be it finance or accounting or marketing and sales.
Developing a business plan requires specialized skills that must be lea
t in business schools. Students can do with a little bit of help. We at MyAssignmenthelp.com realize this more than any other assignment help sites. As such, we have brought together a number of assignment experts who can provide quality assignment help on all the allied subject areas of management including finance, accounting, marketing, economics, statistics etc.
We have hired experienced tutors, professors and professionals from the field of business development to deliver assignment help at affordable rates. Our experts work under tight deadlines and are committed to deliver high quality assignment solutions. We provide complete assignment solutions on business, marketing, finance, accounting etc. Additionally we proofread and edit your essays before delivering.
In order to get assignment help, you will just have to follow three simple steps:
We provide plenty of discount offers and attractive prices for you and your friend. So in order to avail the services you will need to log on to our service website: myassignmenthelp.com.
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