“ I can facilitate increased profits and business growth by providing a wide range of services ”
Business development can therefore help with:
This is far from an exhaustive list. The key point is there is no one size fits all version of business development. Business development is a partnership between the organisation and the business development manager, working together the common purpose developing synergy and approach and learning about what works best in bringing in and maintaining business.
“ Strength and growth comes from continuous hard work and not being scared to fail ”
The SWOT analysis is an extremely useful tool for understanding and decision-making for all sorts of situations in business and organisations. SWOT is an acronym for Strengths, Weaknesses, Opportunities, Threats.
Completing a SWOT analysis is very simple, and is a good subject for workshop sessions. SWOT analysis also works well in brainstorming meetings.
Using SWOT analysis is a great way for business planning, strategic planning, competitor evaluation, marketing, business and product development and research reports. It’s important to review your SWOT analysis quarterly as you are looking to make your weakness into strengths and your threats into opportunities going forward.
Modern SWOT analysis in business and marketing situations is normally structured so that a 2x2 matrix grid can be produced, according to two pairs of dimensions.
Strengths and Weaknesses, are ‘mapped’ or ‘graphed’ against Opportunities and Threats.
To enable this to happen cleanly and clearly, and from a logical point of view anyway when completing a SWOT analysis in most business and marketing situations, Strengths and Weaknesses are regarded distinctly as internal factors, whereas Opportunities and Threats are regarded distinctly as external factors.
Here is the explanation in more detail:
Strengths and Weaknesses
the internal environment – the situation inside the company or organisation for example, factors relating to products, pricing, costs, profitability, performance, quality, people, skills, adaptability, brands, services, reputation, processes, infrastructure, etc. factors tend to be in the present
Opportunities and Threats
the external environment – the situation outside the company or organization for example, factors relating to markets, sectors, audience, fashion, seasonality, trends, competition, economics, politics, society, culture, technology, environmental, media, law, etc. factors tend to be in the future
The value of an external business development manager.
This partnership approach is important, it’s all too easy to see the business development manager as the “expert”, without the need for anyone else in the organisation to support and contribute to the processes he or she will set up. Business development is everybody’s job in an organisation and often the business development manager can be the coordinator, collaborator and innovator as well as someone who has “fresh eyes” with a view to new markets and new ways of doing things that attract and enhance business.