8 Essential Business Development Manager Responsibilities

8 Essential Business Development Manager Responsibilities

8 Business Development Manager Responsibilities

As a Business Development Manager, your key responsibilities involve driving growth and identifying new business opportunities. In the real estate industry, you will play a vital role in developing and implementing strategies to expand the company’s client base and revenue. Your duties also include conducting market research, building relationships with potential partners and clients, negotiating contracts, and overseeing the sales process. By studying online resources dedicated to business development manager responsibilities, you can further enhance your understanding and expertise in this field.

Everybody who is somebody in the organisation will be responsible for the analysis and diagnosis of environment. In specific words, top executives, marketing manager, financial manager and purchase manager are the people who will have to assume the responsibility.

Production manager is not in a position to contribute much because his time and energy is confined to the workshops. Some organisations maintain Management information system (MIS) which can be asked to handle the lob of analysis. The best alternative is that an organisation should have a separate department for analysis and diagnosis.

This department should be headed by a competent official. This would involve additional expenditure but the cost benefit analysis will show that the additional cost is worth considering the risk involved in not coming to know of the changes taking place in environment. The TATAs has done exactly the same thing. The Business Development Manager Responsibilities in analysis and diagnosis should be as explained below:

8 Essential Business Development Manager Responsibilities
Business Development Manager Responsibilities

1. A Manager must have a knowledge of the fiscal policy because it mobilizes the human and material resources of the economy and directs the investment in the desirable channels both in the public and private sectors by providing suitable incentives.

2. A good amount of managerial skill and knowledge is required in adjusting to the environment resulting from the Central Government policies. The managers must have a thorough knowledge, understanding and comprehension of the changes in the Central Policies from time to time.

3. The managers must keep track of the latest changes to find out as to in which areas the investments should be made to get the maximum returns. For example, a businessman can conclude a foreign collaboration without official clearance if royalty payment does not exceed 5% of domestic sales and 8% of the export sales.

4. The managers should always keep abreast with the changing technologies so as to remain competitive. Managers must consider important factors like availability of appropriate technology and the cost also.

5. have to keep a close watch on the availability and sources of inputs. In addition they have to constantly monitor the price of the inputs, transport and communication facilities, availability of regular power supply and manpower supply etc.

6. The managers have to take the market factors and the competition into account on a continuous basis. In today’s dynamic environment, the market forces have started playing an important role. In today’s competitive business environment, no company can operate in isolation. One has to cater to the changing marketing trends in the national market as well as the latest technological developments taking place in the global markets.

7. The managers must ensure that the industrial relations have to be cordial for the growth of the industry. Labour management relations affect the efficiency and the production levels. The political affiliation of the trade unions is an important factor.

8. Successful business managers cannot afford to ignore the sociological environment of business. must have a social purpose, business concerns must discharge social responsibility, social obligations and social commitments, otherwise business cannot enjoy social sanction.

From the forgoing analysis it is quite clear that the forces in the environment can affect the decision making process of the manager in different ways. Moreover, the responses of the managers to environmental changes are not always obvious. Much will depend upon managerial philosophy, profitability, the life cycle of organisation etc.

The influence process is complex because most things affect each other. Thus the most important function of the business manager is the identification of the various environmental factors and their relevance to a particular industry.

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