The aim of this article is to provide you with the knowledge of Business Development Job Titles.
Business organizations and Business development
Every organization is established with a motive to generate profits. With the ever-increasing competition in the business world, organizations need to gear up and give their best to achieve their goal of profit maximization and surviving in the business world with increasingly fierce competition. Nowadays, organizational setups are usually divided into different departments, to facilitate better and efficient functioning. The major departments in organizations are listed as follows-
- Production Department
- Accounting Department
- Finance Department
- Research and Development Department
- Business Development Department
This article throws light on the various job titles included in business development.
Introduction to Business development
Business development is an all-important function for any organization. Business development includes performing activities that enable the business organization to grow faster than its rivals. The primary components of business development are sales and marketing. Many times, business development and sales are used as interchangeable words. Business development has assumed greater importance in today’s business world, as this department is primarily responsible for presenting the organization’s products and services to their existing and potential customers. It is the prime role of the business development team to ensure that monthly, quarterly, half-yearly, and yearly sales targets of the organization are smoothly met by employing appropriate strategies and tactics.
Job titles in Business Development
The entire function of business development is systematically divided into different job roles, which are discussed below-
Business Development Executive
This job role is often located at the bottom of the business development hierarchy. They are also termed sales executives. These executives deal with the organization’s customers on daily basis and make sure that the business development targets are met successfully. They can be considered as frontline employees in the business development hierarchy. Business development executives report to their direct superiors, which may be assistant business development managers or business development managers. Generally, every organization possesses a team of these executives, which works with full commitment to achieve the targets laid down by the organization. Generally, the following activities are performed by business development executives-
- Develop strategies to attract new customers to the organization.
- Reporting daily work progress to their seniors.
- Locate new business leads and promote the organization’s products or services.
- Pitch new and improved products and services to existing clients and customers of the organization, and convince them to buy new products and services.
- Sell existing products or services to new customers.
Assistant Business Development Manager
The assistant manager in the business development hierarchy usually works under the direction of the business development manager. The assistant manager has a team of business development executives working under him/her. So, the assistant business development manager must make sure that all the executives effectively meet their targets in the given time frame. Depending on the size of the organization’s operations, an organization may employ more than one assistant business development manager. They may also be known as assistant sales managers. They are responsible for performing the following activities for an organization-
- Effectively manage the team of business development executives working under them.
- Making sure that their individual and team targets are successfully met.
- Reporting all the progress to the sales manager of the organization.
- Suggesting new and innovative strategies to attract new customers for the organization.
- To help the management in recruiting new business development executives, as and when needed by the organization.
Business Development Manager
A business development manager is placed at the top of the business development hierarchy in an organization. These managers are also known as the sales manager of the organization. They manage the assistant managers and executives to achieve the business development targets of the company. They directly report to the branch manager of the organization, about day to day working of their teams. They also meet and interact with business development leaders to discuss new and improved strategies for business development. A business development manager is expected to perform the following activities for their organization –
- Manage and lead the entire business development work of the organizations
- Direct their subordinates in fulfilling their targets
- Maintain customer relations with valuable customers of the organization
- Introducing new products or services of the organization to their subordinates, and clarifying their doubts about the same.
- Maintain a positive work environment in the organization.
Regional Business Development Managers
In organizations, which run their operations in multiple states in a country, regional business development managers are appointed to look after the business development work of the branches which come under the region assigned to them. They are generally senior officers who have served as branch sales managers over a long period. They perform the following roles during their tenure –
- To make sure that all the branches of the organization are achieving their targets and working efficiently.
- Holding regular meetings with business development teams of the various branches in the region to discuss and evaluate new strategies.
- Communicate business decisions of top-level management to the sales managers in all branches under their supervision
- To oversee transfers and layoffs related to the business development teams.
In hindsight, it can be said that the business development function plays a paramount role in the success and long-term survival of the firm. The various job roles in business development must be coordinated properly to ensure the smooth and timely achievement of all the business development targets and objectives. The entire onus of promoting and selling the company’s products and services lies on the business development team. So, all the related job roles must be assigned to competent individuals who can work wholeheartedly for achieving the objectives.
Frequently Asked Questions
Question 1. Does every organization require a business development team?
Answer 1. Every organization which has the objectives to earn profits does possess a competent business development team.
Question 2. Are the job roles in business development target-oriented?
Answer 2. Yes, the job roles in business development are target-based. The employees work to achieve these targets and upon achievement of these targets, they are awarded several incentives to motivate them.
Question 3. Is the increased expenditure on marketing campaigns justified?
Answer 3. In today’s business world, fierce competition prevails. Every organization aims to obtain an upper hand over its competition. So, organizations must make appropriate investments in marketing campaigns to stay alive and relevant in the market.