“Business Development is an art and science leaded by visionists” DR. Hossam Shalaby.
Business development became the term of the hour in most of the global or the multinational firms as well as many strong local firms too, this importance of business development expertise and tools became essential as of fluidity of market changes caused by either competition or force majors as of the Covid 19 pandemic that strokes the world markets.
The most important argument about business development is which intervention strategy will suit the interrelations between the entire supply and value chain and how could we analyze properly all factors in internal & external elements of the entire ecosystem and that shouldn’t be through static analysis tools as SWOT but it should implement all dynamic analysis tools and how to simulate the chosen strategy before implementation through the business war tools.
Business Development Strategy
1.Diagnosis includes implementing a situation analysis based on need and its reflection on the present/future wants and needs, Supply and value chain analysis to set value for each operation.
2.Strategy formulation includes planning and decision-making involved in developing organization’s strategic goals and plans.
3.Strategy implementation involves all those means related to executing the strategic plans.