BUSINESS
DEVELOPMENT
Business
development is managing a number of tasks and processes generally aiming at
developing and implementing growth opportunities. The term business development
or ,the business developer, have evolved into many usages and applications.[1]
Today, the applications of business development and the business developer’s
tasks across industries and countries, cover everything from IT-programmers,
specialized engineers, advanced marketing or key account management activities,
and sales and relations development for current and prospective customers.
Business development had its origins in the industrial revolution.
There are so
many benefits on business development. One of
the benefits is to generate more profit and reduce lost . As we all
know, the purpose of doing business is
to get profit. In order to achieve a better profit, we must generate a better
business development .For example, in the advanced country, they used better
technology to produce their product in able to catch the customer attention.
So, it will cause win win situation because producer get the profit then
customer satisfied with the product. It also can give customer the best quality
from the bussines development have .[2] It
is the job of specialization of the product to generate the quality in terms of
the business development. Few times in history have more ambiguous words been
spoken. Ask ten “VPs of Business
Development” or similarly business card-ed folks what is business development,
and you’re like to get just as many answers. “Business development is sales,”
some will say, concisely. “Business development is partnerships,” others will
say, vaguely. “Business development is hustling,” the startup folks will say,
evasively. The assortment of varied and often contradictory responses to the
basic question of “what, exactly, is business development” reminds me of the
way physicists seek to explain what, exactly, is the universe. With conflicting theories on the nature of
black holes and bosons, the ultimate goal for those scientists is a Grand
Unified Theory, a single definition that can elegantly explain how the universe
itself operates at every level. Lacking any concise explanation of what
business development is all about, I sought to unite the varied forces of
business development into one comprehensive framework. And eureka, for I have
found it - the Grand Unified Theory of business development. Business
development is the creation of long-term value for an organization from
customers, markets, and relationships. There is elegance in simplicity, but
perhaps this definition leaves you wanting more. At its heart, business development is all
about figuring out how the interactions of those forces combine together to
create opportunities for growth. But a
theorem requires a proper proof, so let’s break that statement down. First,
what do I mean by “long-term value?” In
its simplest form, “value” is cash, money, the lifeblood of any business (but
it can also be access, prestige, or anything else a company seeks in order to
grow). And there are plenty of ways to
make a quick buck for you or your company.
But business development is not about get-rich-quick schemes and
I-win-you-lose tactics that create value that’s gone tomorrow as easily as it
came today.
Islam also have
very own perspective on business development aspects. In the holy book of
Islam, the Quran, it is ordered that the information about the trade be written
and recorded. Thus, Islam showed the way of recording the information and
transactions about trade correctly in the books of the companies, which forms
one of the essentials of the companies today, and preventing shadow economy,
which is the source of many evils.[3] As
a matter of fact the contemporary accounting system was started by Arabs for
the first time thanks to the decree of the Quran. It took the West several
centuries to reach that level in accounting and incorporation. Trade is the
lifeblood of the economic life. In a broad sense, it can even be said that
economy=trade. The following hadith of the Prophet of Islam regarding the issue
is a clear message: "Be courageous and be involved in trade. Nine out of
ten of the sustenance is from trade." Our Prophet stated that trade had
risks but he advised us not to avoid risks. In addition, he expressed a macroeconomic
phenomenon that is generally accepted today informing us that almost all of the
gross national income originated directly or indirectly from trade both in the
country and in the world. However, the Christian clergymen regarded trade and
fraud equal until recently and named selling something at a price higher than
its cost as theft.
The Messenger of
Allah presented all of the leaders of the world with a divine guide for success
by saying, "The head of a community is the one who serves that community
the most." A serving leader is an issue that contemporary management
science has just started to search. The Islamic economic system accepts neither
the oppressing capitalism nor the brutal and dreamy socialism. Every wrong
system can have some right aspects.[4]
Islam does not reject the right aspects of the systems that it rejects. For
instance, issues that are accepted by capitalism like individual enterprises,
private property, trade, art and free market economy that is based on
murabaha/profit making can exist and exist in the Islamic economic system as
long as they are not contrary to the spirit and ethics of Islam. On the other
hand, struggle against unlawful profits, the claim to end the gap between the
rich and the poor, the general attitude against interest in economy, which seem
to be on the foreground in socialism can be accepted as right points by Islam.
Elements that result in deceiving and being deceived and bring about unlawful
profits like the exploitation of interest are ruled out in the Islamic economic
system. The framework of Islamic economy is evaluated on the basis of
principles but the economic details to be applied are left to the conditions of
the time and place as long as this framework is not exceeded. Principally,
Islam shows respect to the right of private property and individual freedoms.
The owner has the right to use his property however he wishes within the
legitimate framework unless he is a child or insane. If he is not qualified
enough to use his property, this right is removed from that person. Excessive
waste and extravagance is an important reason to remove this right. This
principle is also valid in current civil code. However, Islam regards
extravagance and stinginess among unethical acts and tries to keep people away
from them by defaming them. Since Islam has a content related to the hereafter,
it regards a person religiously responsible though these acts are not included
in the formal law.
The role of
business in society is on the boardroom agenda. Either the CEO and the Board manage
the role their business plays, or others will manage it for them.[5] At
stake is corporate reputation, innovation ,competitiveness and growth. This
action takes a look at how globalization is intensifying the pressures behind
social and environmental concerns,and what the boardcan do. It outlines the
essential steps the board can take to underpin ethical behaviour in the
business.It looks at the support management can provide to the board in
understanding and interpreting the external environment and impleting company
wide strategy. For it is in the performance of the company in its core practice
that it has its greatest impact on society and greatest potential to contribute
to international development.
Next, is the
impact of business development on global
economic and societies around the world. One of the key of globalization is
international economic development. It is a highly dynamic process. Through
millions of daily decisions that we, as business leaders, are making, business,
trade and commerce are driving global economic integration. Countries and their
populations as consumers, employees, investors and citizens are being brought
into rapid, if uneven, participation in global economic activity and growth.
The scale of these trends is massive. To take one example ,at a global, macro
economic level, it is estimated that more than 1 billion people have been able
to afford to buy manufacterd product for the first time.[6]
The development community is increasingly recognising the importance of working
with the private sector. Donors and NGOs are looking for new ways to engage
directly with business, leveraging public resources and capturing
private-sector technical knowledge, in order to achieve development goals. At
the same time, the business community is increasingly interested in
understanding, measuring, reporting and leveraging its development impact.
Leading businesses want to know how best to invest in local communities and to
ensure a more sustainable business model, in order to manage risks and secure a
licence to operate in today’s increasingly competitive global environment.
Businesses are already under tremendous pressure to meet high standards for the
social and environmental impacts of their work. But the business community and
policymakers are increasingly realizing that the economic impact on poor and
disadvantaged communities leads, in turn, to social and environmental effects.
The more established and embedded accountability is in companies, the more
economics is seen as the critical path to such outcome. In a global economy,
the corporate sector is increasingly the predominant driver of economic
development in low-income communities. Here are several well-known facts. Of
the world’s largest one hundred economic entities, fifty-one are companies and
forty-nine are countries. The world’s
top two hundred corporations account for over a quarter of global economic
activity while employing less than 1 percent of its workforce. In 1970, 70
percent of the capital flows to the developing world were from the government
sector and 30 percent were from the private sectors.
There are so
many knowledge than we can gain from business development. For example, To
remain innovative, companies need to develop new products – and do it quickly.
Innovation and it's ability to create competitive advantage for firms is the
very core of this concentration. Through an introduction to the theory and
practice of innovation, you will learn to develop an innovative mindset. [7]To
manage a company effectively through innovation and business development, you
need structured and informed analysis. Each innovation has different aspects,
some referring to its value proposition, some to its future users, some to
probable responses from its competition, and so forth. An innovation does not
become successful by taking a one-sided focus on these aspects. You will learn
about the processes of identifying ideas for innovation, strategies in
different types of companies as well as how innovation can become a part of the
overall strategy of a company. You will also gain knowledge on how to put
innovation on the corporate strategy agenda.
The Business
development also related to the history of islam. For example, Adam Smith is
described as the father of economics; he is regarded to have founded the free
market economy. His book called “the Wealth of Nations” was published in 1789.
The essence of the book is based on this idea: The best thing to do about the
economy is not to intervene in the market at all because the market always does
the best. That famous idea is expressed with the maxim ‘Let do’ (Laissez
fairez). The reason on which Smith bases his ideas is very interesting. He says
there is an invisible hand that rules the market; what he means by the
invisible hand is God. Were those ideas that are still regarded as the basic
doctrine in economy put forward by him for the first time? Let us have a look
at the history of Islam to find the answer. In the Age of Bliss (the Era of the
Prophet), when people demanded an official fixed price, Hazrat Muhammad brought
the principle of not intervening in the prices by any means and said the
following as a reason; "Only Allah knows where prices will go." Those
words that describe the system of liberal economy concisely match up with the
definition of Smith. It is certain that one of them quoted from the other. The
Islamic economic system accepts neither the oppressing capitalism nor the
brutal and dreamy socialism. [8]Every
wrong system can have some right aspects. Islam does not reject the right aspects
of the systems that it rejects. For instance, issues that are accepted by
capitalism like individual enterprises, private property, trade, art and free
market economy that is based on murabaha/profit making can exist and exist in
the Islamic economic system as long as they are not contrary to the spirit and
ethics of Islam. On the other hand, struggle against unlawful profits, the
claim to end the gap between the rich and the poor, the general attitude
against interest in economy, which seem to be on the foreground in socialism
can be accepted as right points by Islam.
Lastly, I would
like to state my view on the business development in society. Businnes
development is the process of marketing ,sales, and development strategies for
your company. All businesses need to focus attention on the creation of
marketing and business expansion. While there are people who devote their
professional lives to stand alone business development tactics for other
companies, some businesses prefer to do the work themselves.[9]
The process of business development can incorporate many different department
within a company. Small businesses need at least one person devoted to the
development of the business, even if they have other responsibilities. An
employee who works closely with the marketing and sales team as well as the
product development team will do very well in their job duties. If necessary,
contracting with a company who specifically handles business development might
work out well as long as you are communicating with the experts on their team.
Making sure that everyone is up to speed with the most current business trends
is vital to maintaining your company's success.
As a conclusion,
business development create many job opportunities toward society. As the job
opportunities had been created this will cause an decreasing in the
unemployment rate. So, the society will get some benefits from the business
development enhancement. A business development professional's main focus is to
identify opportunities for the business, but also they need to stay up-to-date
on current industry trends. Knowing what business competitors are working on is
helpful to keep your business strong. Noticing when there is a new market
sector or specific new client's means your company can work to improve or
change up your advertising campaign. Setting priorities for your business
opportunities is another important aspect of business development. Once you
have recognized new areas of potential growth, you will need to decide what to
do first. [10]Taking
advantage of everything at once is a recipe for disaster, so do a return on
investment analysis for each opportunity to see which one you should work on
first. To sum up, The job market for business development experts is growing
rapidly with the advent of the Internet as not only a place to do business, but
a wonderful arena of advertising opportunities. There are so many places to
gain useful information about business development, starting with your local
chamber of commerce or evolveyourbiz.com. Learning as much as possible about
business development will help your company remain vital and strong in this
uncertain economy. For larger and well-established companies, especially in
technology-related industries, the term "business development" often
refers to setting up and managing strategic relationships and alliances with
other, third-party companies. 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 implementation
of the strategic business plan through equity financing,
acquisition/divestiture of technologies, products, and companies, plus the
establishment of strategic partnerships where appropriate.
[1] The role of business in
society-Mandy Cromack,Mehmet Dickmen-Published October 1st 2003 by Harvard
Business Review Press Page 10
[2] The role of business in
society-Mandy Cromack,Mehmet Dickmen-Published October 1st 2003 by Harvard
Business Review Press Page16
[3] The role of business in
society-Mandy Cromack,Mehmet Dickmen-Published October 1st 2003 by Harvard
Business Review Press Page15
[4] The role of business in
society-Mandy Cromack,Mehmet Dickmen-Published October 1st 2003 by Harvard
Business Review Press Page28
[5] The role of business in
society-Mandy Cromack,Mehmet Dickmen-Published October 1st 2003 by Harvard
Business Review Press Page38
[6] The role of business in
society-Mandy Cromack,Mehmet Dickmen-Published October 1st 2003 by Harvard
Business Review Press Page51
[7] The role of business in
society-Mandy Cromack,Mehmet Dickmen-Published October 1st 2003 by Harvard
Business Review Press Page87
[8] The role of business in
society-Mandy Cromack,Mehmet Dickmen-Published October 1st 2003 by Harvard
Business Review Press Page99
[9] The role of business in
society-Mandy Cromack,Mehmet Dickmen-Published October 1st 2003 by Harvard
Business Review Press Page123
[10] The role of business in
society-Mandy Cromack,Mehmet Dickmen-Published October 1st 2003 by Harvard
Business Review Press Page133
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