Overview of Business Development Managers Job Description
A substantial formal education is required for business development managers. These are the individuals who are accountable for driving the growth of their firms through motivating their employees as well as bringing about new business opportunities. It is very crucial for a business development manager to obtain comprehensive knowledge of the marketplace and firm’s competitors.
In the same way, he or she needs to work closely with the marketing and sales departments to point out prospects, go over the contracts and create proposals. Take into consideration that entry-level task in this area usually requires a bachelor’s degree in the field of business administration or any related field of study and also about 3 to 4 years of marketing and sales experience. Be that as it may, some employers go for candidates who obtained a master’s degree. Not to mention, a business development manager must be an exceptional problem solver, is highly motivated and finds finance and business as his or her first love.
Business Development Manager Job Duties
It is the business development manager’s responsibility to promote the business where he or she works. He or she will work with the marketing and sales departments and will be responsible for developing training plans in order to coach and motivate the workers of the firm to work harder and be more productive. Further, he or she must be excellent in strategic planning since his or her main role is to promote the channel of new enterprise coming in to the firm. In reality, this necessitates deeper knowledge of the firm’s competitors and marketplace.
It is the business development manager’s responsibility to:
•Devise proposals as well as specifications
•Design training programs
•Negotiate review with prospects
•Work together with the marketing department
To land a business development management position, you are required to complete a bachelor’s degree. A candidate should also have a minimum of 3 to 5-year experience in the field of sales and marketing. Likewise, please be guided that a graduate degree is commonly requested.
Bachelor of Science in Business Administration
Classes that underscore leadership like the following are required:
•Human Resource Management
•Small Business Management
Master of Business Administration
This has certainly long been held in the field of business as the gold standard of graduate degrees. Typically, this takes about 2 years to finish if the courses are earned full-time. Programs or classes that focus on entrepreneurial business development may offer courses such as the following:
•Employment Law for Managers
•Conflict Resolution and Negotiation
Job Outlook and Information about Salary
The median wage of a business development manager is around $72,006. This was revealed by PayScale.com and this is as of the period of December 2014. On the other hand, the U.S. Bureau of Labor Statistics specified that the employment of managers in the field of training and development is proposed to rise by approximately 11% between the years 2012 and 2022.
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median earnings per week than workers with only a high school diploma.*