Business development is the process of planning for future growth by identifying new opportunities, forming partnerships, and adding value to a company. It involves understanding the target audience, market opportunities, and effective outreach channels to drive success.

Business development may involve objectives around sales growth, business expansion, strategic partnerships, and increased profitability. The process impacts every department, including sales, marketing, manufacturing, human resources, accounting, finance, product development, and vendor management.

Project Management / Business Planning

International business expansion involves critical decisions about whether to establish a new facility in the target market or manufacture products in the base country and import them. If opting for the latter, it may also require assessing the need for an additional facility in the base country.