business development JUST WRITTEN FOR YOU
/ˈbɪznəs dɛvələpmənt/ · bus.i.ness.de.vel.op.ment
noun
- The process of identifying and pursuing new business opportunities, often through strategic planning and innovation. The company's business development team worked closely with the marketing department to launch a new product line.
- The growth and expansion of a business, often through strategic partnerships, acquisitions, or investments. The company's business development strategy involved expanding into new markets through strategic partnerships.
verb
- To identify and pursue new business opportunities, often through strategic planning and innovation. The company is developing new business opportunities in the renewable energy sector.
- To grow and expand a business, often through strategic partnerships, acquisitions, or investments. The company is developing its business in the Asia-Pacific region through strategic partnerships.
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Antonyms
Did you know? The term 'business development' is often used interchangeably with 'business growth', but while 'business growth' refers to the increase in revenue or size of a business, 'business development' refers to the process of identifying and pursuing new business opportunities.