Business development executive and manager are common in various organizations, and most people think, or better still, take the two be the same. Though the duties are partly the same, it’s usually confused if the two titles are used interchangeably, and there are still clear differences between the two positions. A business development executive refers to an administrator or manager entrusted to work in the business or organization and a significant level deals expert. He/she helps their organization secure clients and offer extra items. It’s a critical job for any business with the desire to grow or expand effectively. That compelling business development executives are popular in the essential work area: business-to-business, business-to-buyers, and non-benefit associations.
On the other hand, a manager refers to an individual who is answerable for the ongoing works and workers in an association or firm. He/she needs to assume the part of a motivator and tutor while controlling the workers to accomplish the association’s objectives. As such, a manager is an individual who is answerable to everything that has to do with an organization. That’s managers deal with the organization. Managers are also alluded to as “Managing Director” responsible for a division and individuals working in it. Sometimes, the manager does everything in a business. For instance, a ‘hotel manager’ is responsible for the entire hotel activities. He/she practices administrative capacities principally. Also, employ, sack, caution, do execution, evaluations, and screen participation. They likewise can favor extra time and approve excursions. Hence, a manager is the head or leader of an organization.
Duties of a Business Development Executive
The duties of a business development executive lie in procurement and other business transactions. He/she must have ways of drawing people to buy goods and always keep the senior administration up to date with the trades and the ways of contenders. The basic duties of a business development executive are as follows:
- Bringing in more customers to the business cycle of the organization.
- Interacting with higher colleagues to see the chances the organizational development.
- Showing and searching for more ways to balance the business sector.
- He/she must be ready to attend to the customer’s demand.
- Gathering all activities and support a synergistic climate of the entire business lines.
- Always contact customers of any matter arising.
- He/she must be straightforward and create mutual tides with the customers.
Duties of a Manager
The duties of a manager are incredible. Here are the duties of a manager:
- Employing staffs.
- Orientating new workers.
- Instructing and guiding the workers based on the business.
- Managing business issues.
- He/she solves issues and makes decisions to be followed in the business.
- Follow the business strategies.
- Enlighten the aims and objectives of the business or company.
- Observing and making things straight.
- He/she must be calculative on the costs and financial plans.
- Following up on everything transaction.
- Creating more plans that will help in the future.
Other professionals also assist the duties of a managing director to achieve a common goal. It’s because of these most managers spend much time in their offices and probably sleepover. Hence, managers are always busy.
Comparison Between a Business Development Executive and a Manager
Even though business development executive and manager positions are used in a business organization, they aren’t the same in meaning.
A business development executive is concerned with the sales and marketing roles. He/she does things like creating business procedures, examine them, and tells what is required to tackle and grow the business effectively. That’s a business development executive does the selling and connection between the organization and clients.
On the other hand, a manager takes the whole control of the business. He/she see the business process by making sure it falls well with the customers. A manager does this with the business fundamentals: creation, arrangement, leadership, and control. As it’s earlier stated, he/she connects with employers and experts in the field. Therefore, it can also be said that a manager sets workers on how to behave and coordinate in the business environment. They are more or fewer administrators and leaders in an organization.
The Similarities Between a Business Development Executive and a Manager
Even though business development executives and managers have differences within an organization, they still have similarities for the organization to move forward. One of the similarities between the two positions is that they are commonly referred to as managers responsible for achieving the goals of an organization.
They deal with the sales of the association and tackles business problems without any difficulty. Thus, a business development executive works hand-in-hand with the manager in every stage of the business transactions. This helps them to have other departments who assist in running the business. All they do is cooperate with the business ethics guiding the firm.
Another similarity between a business development executive and a manager is that all the information is passed from their desks. For instance, a business development executive communicates with the manager on the new development, and the manager disseminates the news to the workers to know the organization’s status. Then, they will conclude on the best way to relate the news to their customers. This usually happens when there’s a fall in sales.
Techniques and Prerequisites needed to become a Business Development Executive and a Manager
Talents refer to one of the attributes that make a perfect candidate in a career field, department, or firm. Therefore, to excel or stand out for the best in business development executive and manager roles, certain talents are needed. The talents and prerequisites are:
- Ability to communicate effectively and interact between two or more people.
- Perfect experiences in business.
- Good achievements in the career field are also needed.
- Good leadership qualities and team building.
- Time management.
- Advanced learning of business devices and methods.
- Active listening and critical thinking abilities.
Educational Qualifications Needed to Become a Business Development Executive and a Manager
Educational qualifications are said to be crucial in every field. It goes in line with the profession or career to be employed. In other words, a bachelor’s certificate in business administration, management, or related disciplines is needed for the roles of a business development executive and manager. For example, some firms look forward to candidates with a Master’s degree or high certification, usually tagged as “Certified.”
Annual Expectation for a Business Development Executive and a Manager
Both business development executive and manager’s compensation relies upon the abilities and aptitude. A business development executive’s salary is $83 431 for every annum, and a manager’s salary is $80 768 per annum. Sometimes, the salary of a manager falls between $68 754 and $93 462 per annum.
Note that it’s the education qualifications and experiences that determine their salaries.
Difficulties encountered by a Business Development Executive and a Manager
Even though business development executives and managers earn a high income, there are problems encountered in the career. Though, the challenges are controllable when properly handled.
The difficulties are:
- Not making the right decisions.
- Undesirable expectations
- Poor orientation to the workers.
- Bad Economy.
- Losing customers due to a high number of competitors.
- Poor management.
- Inability to handle business pressure.
- Inappropriate balancing of accounts.
Chances Connected with a Business Development Executive and a Manager
Regardless of the company or firm that intrigues you, there is always room for a business development executive and manager. Having these positions is like having the keys to a car. The role of a business development executive and manager is increasing every day as they are high in demand. This is because their duties or functions are mostly needed without any exception. For example, there is a need for the roles of a business development executive and manager in managing the affairs of a particular musical artiste and the sales in the music industry. In other words, there is no organization without these positions because its importance can’t be overemphasized.
In conclusion, business development executives are meant to bring more customers and meet their target. He/she initiates the sales and marketing lines, implores the best business strategy, and friendly with the clients. On the other hand, managers are responsible examine and coordinate all the business activities in all the departments. They are seen as bosses or leaders who supervise the entire works to avoid business failure. There is a position above the manager, which is the “senior manager.” In a nutshell, managers are also called administrators that regulate the affairs of the business. For example, managers give the final word on any business plan of a company.
Therefore, the success and growth of every company or organization rely on the active support and management of business transactions from the office of business development executives and managers. They handle various businesses by collecting and coordinating information, composing reports, introducing, and planning. These experts nurtured be seen on their career of movement and exhibit association, cooperation, time cautious, and knowledgeable in relational capacity. Also, a Bachelor’s or graduate degree is vastly accepted for a business development executive and a manager. That’s means behind every successful company, there are always business development executives and managers, and the positions are still increasing to date.
Also read Business Development Job Description – Salary, Duties
