A Business Development Officer is the assistant to the Business Development Manager. The primary goal of a Business Development Officer is to create new business ventures by creating action plans. The Business Development Officer concentrates his daily efforts on taking a current business into a new local, regional, national, or international market.
Duties and Responsibilities
There are a variety of items contained in the job description of a Business Development Officer. The chain of command for a Business Development Officer means that he usually answers to the Business Development Manager, the Chief Executive Officer, and the Board of Trustees of the company.
In order to fulfill the duties of expanding business through a wide variety of markets, the Business Development Officer consults with the higher ups in the company to determine which ventures they will pursue as a company. During these consultations, the Business Development Officer brings to light and discusses time of production, possible returns on investments, and marketing and advertising of the service or product.
At the end of each fiscal year, the Business Development Officer is a key to the strategic management meetings where the next year’s project and budget are discussed, as well as company goals and objectives for the following year.
One of the most important objectives of being a Business Development Officer is doing research to determine how well a new business will do in a certain area, and to attempt to attract the businesses that would undoubtedly be a huge success. A Business Development Officer is also responsible for the group of people that work before him. This group of people works to determine if certain services or retail subjects will succeed in the current market and how they can improve it.
There are specialized skills required to be a successful Business Development Officer. Communication between a wide variety of professionals is one of the most important skills this person can exhibit. This should lead to the ability to be a gracious leader, but also be able to delegate many tasks to fellow workers in order to get a project completed and done so successfully.