29^th European Biotechnology Congress

Biotechnology Industries in the Market

Business Development referred as the activity of pursuing strategic opportunities for a particular business or organization, for example by cultivating partnerships or other commercial relationships, or identifying new markets for its products or services. Business development activities extend across different departments, including sales, marketing, project management, product management and vendor management. Networking, negotiations, partnerships, and cost-savings efforts are also involved. All these different departments and activities are driven by and aligned to the business development goals. In the simplest terms, business development can be summarized as the ideas, initiatives and activities aimed towards making a business better. This includes increasing revenues, growth in terms of businessexpansion, and increasing profitability by building strategic partnerships, and making strategic business decisions. Business development activities extend across different departments, including sales,marketing, project management, product management and vendor management. Networking, negotiations, partnerships, and cost-savings efforts are also involved. All these different departments and activities are driven by and aligned to the business development goals. Since business development involves high-level decision making, the business developer should remain informed about current state of the business in terms of SWOT analysis.