New business development concerns all the activities involved in realizing new business opportunities, including product or service design, business model design, and marketing. When splitting business development into two parts, we have: ‘business’ and ‘development’. The first things that come into mind when looking at business are: economics, finance, managerial activities, competition, prices, marketing, etc. All of these keywords are related to risk and entrepreneurship and clearly indicate the primary scope of the term ‘business development’
Business development manager as “a person who manages the business affairs of an individual, institution, organization, or company”. Business managers drive the work of others (if any) in order to operate efficiently and (in the case of for-profit companies) to make a profit. They should have working knowledge of the following areas, and may be a specialist in one or more: finance, marketing and public relations. The Business Manager leads a business sector.
Business development manager Elaborate business development plans, design and implement processes to support business growth, through customer and market definition. Build and maintain high-level contacts with current and prospective customer and other business and project partners. Develop Applications and other Systems. Researching organisations and individuals online (especially on social media) to identify new leads and potential new markets
Contacting potential clients via email or phone to establish rapport and set up meetings. Developing quotes and proposals. Training personnel and helping team members develop their skills. Creating informative presentations; presenting and delivering information to potential clients at client meetings, industry exhibits, trade shows, and conferences. Procuring new clients through direct contact, word-of-mouth, and collaboration with the marketing department.