Driven by and aligned to the organization’s goals, business development activities cut across functions of different departments of the organization such as sales, marketing, project management, and product management with the aim of utilizing partnerships and linkages in order to generate sales.
This activity is conducted by a company and organization to enhance business in terms of increasing revenue and profitability, business expansion, coming up with strategic business decisions, and a lot more.
As much as these activities aim to enhance the business, policy and operational decisions should be able to steer business development activities towards the achievement of organizational goals. Therefore, these decisions should follow by sufficient and accurate information on the status of activities geared towards business development.
Business development status reports should be able to provide better oversight that will drive more business opportunities.
Some companies or organizations may have a standard format or template for business development status reports.
Furthermore, If there is none, here are some pointers in coming up with a good one.
It is critical to note that while progress for each venture is a good way to measure success, keep in mind that the value of each opportunity enjoys an equal importance with that of the number of opportunities. Monetary values are misleading, just as well as having many opportunities but with only a few big and more little.
