What is development ?
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Development can be defined as the systematic use of scientific and technical knowledge to meet specific objectives or requirements. It is also an extension of the practical and hypothetical aspects of a design, concept, discovery, or invention.
There are various aspects of development which are summarised below:-
• Different persons can have different developmental goals
• It is not necessary that development for one may not suit others. It may even be destructive for others. For e.g. Industrialists may require dams for the generation of electricity for propelling their industries. The same dams may be resented by those who are displaced.
• It is very important to keep in mind that different persons could have different as well as conflicting notions of a country’s development.
• National development means thinking about a fair and just path for all, whether there is a better way of doing things.
• It pertains to the growth of an individual, a society, a nation or the entire world
• Development involves thinking about the betterment of life and working towards progress.
• Other common developmental goals are Increase in income, equal treatment, freedom, security, end of discrimination, a decent standard of living.
• We have aspirations or desires about what we would like to do and how we would like to live.
• It is only through a democratic political process that these hopes and possibilities can be achieved in real life. People seek things that are most important for them, i.e., that which can fulfil their aspirations or desires
Business development can be summarized as the ideas, initiatives, and activities that help make a business better. This includes increasing revenues, growth in terms of business expansion, increasing profitability by building strategic partnerships and making strategic business decisions.
“Business Development Executive,” “Manager of Business Development,” and “VP, Business Development” are all impressive job titles often heard in business organizations. Sales, strategic initiatives, business partnerships, market development, business expansion, and marketing—all of these fields are involved in business development but are often mixed up and mistakenly viewed as the sole function of business development.
Business development encompasses a wide scope of ideas, activities, and initiatives that a business owner and management implement with the goal of making the business better.
Business development can include many objectives, such as sales growth, business expansion, the formation of strategic partnerships, and increased profitability.
Successful business development impacts every department within a company, including sales, marketing, manufacturing, human resources, accounting, finance, product development, and vendor management.
Business developers should be aware of new market opportunities, possibilities for expansion, competitor developments, and the current sources of the company's revenue.
Hope that helps!