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Many people/organizations take business development as a sales tool .. something to increase sales and revenues. Reality is that "business"is much more that just sales, and developing a business i.e. business development is much more than just sales . To explore more this concept, let us discuss the topic from a different and more comprehensive angle
Yes , Business Development is neither sales nor Key Accounts ! Though it differs from industry to industry which involves any firms start to end activity of the business requirements, so the roll can't be bounded only to sales!
In a contracting companies it starts from Market Scouting, Identification of project, Feasibility Study of the project and the client, enlisting with pre qualification, Submission of the bid by coordinating with the contract department, Techno commercial discussion with the client along with the contract department and finalizing the contract by getting LOI ..... Here the roll never ends but it starts from here where the Business Development need to sit with the planning, Procurement, Project team and clients till the handing over of the bided project.
By tacking the above industry sample I personally say BD is an END to END roll .......
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