Business development strategy: Ensure your company’s future with a relevant business development strategy
A business development strategy helps leaders keep their sights on organizational goals while ensuring readiness for future challenges. This is essential whatever level you are working at - be it leader of a business unit, function, division, country or region. A strategy is not enough, however - leaders must also build teams and manage internal and external relationships in order to execute the strategy and build a sustainable organization.
If you’re a leader moving into a significant leadership position or encountering a specific business challenge, creating and executing a business development strategy can be a daunting task - especially in today’s complex business environment. Help is at hand, however, through business development training that develops both your analytical skills and leadership effectiveness. By building skills to boost business performance today and prepare your organization to sustain performance in the future, business classes can help you develop an appropriate business development strategy - and ensure you’re capable of delivering it.
Where’s the best place to look for such training, and what exactly should the training include? Here are a few tips.
1. Stick to good business schools
Start your search with the top business schools in the world. Ranked highly by reputable sources like The Financial Times, you can be sure of a quality business development course at such establishments.
2. Get the real big picture
Defining a comprehensive business development strategy - and being a visionary leader - requires a wide, interconnected view of your business and the world in which it operates. Seek out a program that offers both a global perspective and in-depth business intelligence training. It should challenge you to assess your business’ reality within the wider business environment - so you know exactly where your business really sits and where it should go.
3. Stretch company potential
Once you know the reality, you need to develop a business development strategy that stretches your company’s potential - addressing your current business challenges while also ensuring your company stays ahead in a constantly changing business environment.
Good business development training helps you do this through learning tools such as global case studies, simulations, workshops and project work. The best business development training courses let you work directly on your own business challenge. They provide support to define the scope of your challenge as well as diagnose and apply lessons from the training to your own situation.
4. Become an effective and operational leader
So you’ve developed a business development strategy - the next challenge is to execute it. You need strong leadership skills in order to assemble strong, committed teams; manage internal and external stakeholders; and shape your organization. Look for business development courses that give you these skills. The training should help you translate your learning into concrete plans and actions, and also help you engage your organization and team back at the office. ou should leave with enhanced skills to improve performance at the individual, team and business-unit levels - and make sure your organization stays ahead.
One last thing
Oftentimes, a business development strategy is a company affair. Some business development training courses allow teams from the same company to attend - serving as a useful launch pad for an organizational change or strategic project. By bringing together managers from different units or regions, your company can develop a common approach, a common language and build on this shared approach in developing a cohesive business development strategy.
Business development & strategy management training
Need to develop and execute complex business strategies?
Find out how IMD's Advanced Strategic Management program can help sharpen your strategic leadership skills - download the free brochure now!
Looking for training on business development strategy? How about IMD’s:
- Executive development program for mid-career managers
- Leadership courses for experienced managers
- Business management training for young, high-potential managers
- Business management degrees
- Top executive education program for CEOs and other senior executives
- Corporate governance best practices program for board members
- Business finance course for senior financial and business executives
- Program for women business leaders
- Or use our Program Finder to find the perfect course to help you create a business development strategy!