Corporate Development refers to the planning and execution of a wide range of strategies to meet specific organizational objectives. The kinds of activities falling under corporate development include executive recruitment of management teams, business planning for phasing in or out of certain markets or products, establishing relationship selling with strategic business partners, identifying integration and company acquisitions, securing financing, divesting of assets or divisions, increasing intellectual property assets and so on.
There is no formula for “corporate development” and the activities encompassed are necessary for success. The Corporate Development Officer is often the role of the CEO or other assigned executives, consultants and merchant bankers who provide the support and engage in the blueprint for business and market success.
Strategic Account Management
Strategic Account Management refers to the management of the customer relationships that are most important to a company. Key accounts are those held by customers who produce most profit for a company or have the potential to do so, or those who are of strategic importance. Business Development of these customer relations and customer retention is important to business success.
Particular emphasis is placed on analyzing and assessing which accounts are key to a company at any one time, determining the needs of these particular customers, and implementing procedures to ensure that they receive premium customer service and to increase customer satisfaction.