In these instances, the companies may leverage each other's 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 the implementation of the strategic business plan through equity financing, acquisition/divestiture of technologies, products, and companies, plus the establishment of strategic partnerships where appropriate.
There is a section of Business that is dedicated to facilitating ethical business development in developing countries.
In the early 2000s, Business Ethics was dedicated to helping the Businesses in need that are in these countries.
However, due to lots of backlash from critics, they have changed their focus into helping businesses that are going to help the most amounts of people develop.
These policies have improved the quality of life of the people.
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 customer relationship management tool or database, either web-based solution or an in-house system.
The business developer is concerned with the analytical preparation of potential growth opportunities for the senior management or board of directors as well as the subsequent support and monitoring of its implementation.
Both in the development phase and the implementation phase, the business developer collaborates and integrates the knowledge and feedback from the organization’s specialist functions, for example, research and development, production, marketing, and sales to assure that the organization is capable of implementing the growth opportunity successfully.