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BUSINESS	
DEVELOPMENT	
status	of	research	and	prac<ce	
	
Keynote	30.	June	2016	
©	2016	Hans	Eibe	Sørensen	 Business	Develo...
©	2016	Hans	Eibe	Sørensen	 Business	Development	-	status	of	research	and	prac<ce	 2
Agenda	
•  Premise	and	background	
•  Business	development	research	
– The	literature		
– The	construct	
– The	academic	ch...
The	keynote’s	premise	
•  Why	do	we	run	businesses?	
–  To	make	owners	make	more	money	than	from	an	
‘alterna<ve	investmen...
Some	backgound	
General	confusion	about	business	development’s		
actual	meaning,	organiza<on,	tasks,	processes	and	
people...
The	BD	literature	–	a	short	story	
•  Conceptual	work	
–  Bussgang	et	al.	(2012)	and	Sørensen	(2012)	and	Burgelman	(1983)	...
What	is	business	development,	really?	
•  Developing	the	business?	
•  Sales?	
•  Key	Account	Manager?	
•  IT-programmer?	...
Business	development	defined	
•  Business	development	refers	to		
1.  the	tasks	and	processes	concerning	analy<cal	
prepara...
The	academic	challenge	
Unique	BD	ac,vity?	
No		 Yes	
Labeled	BD?	
Yes	
	
Confused	other	
business	ac<vity	
Trve	business	...
©	2016	Hans	Eibe	Sørensen	 Business	Development	-	status	of	research	and	prac<ce	 10
Business	development	prac<ce	
•  Lesser	confusion	about	business	development’s	actual	
meaning,	organiza<on,	tasks,	proces...
Growth	
Opportunity	
Where	is	Business	Development?	
©	2016	Hans	Eibe	Sørensen	 Business	Development	-	status	of	research	...
The	Business	Developer	
•  Business	developers	are	integra<ng	generalist;		
–  Having	prac<cal	knowledgeable	about	the	tec...
The	integra<ng	generalist	
14	Business	Development	-	status	of	research	and	prac<ce	©	2016	Hans	Eibe	Sørensen	
Source:	ada...
Summary	
•  Premise	and	background	
•  Business	development	research	
– The	literature		
– The	construct	
– The	academic	c...
16	©	2016	Hans	Eibe	Sørensen	
Many	thanks!!	
Q	&	A		
Hans	Eibe	Sørensen,	PhD	
Hybrid,	Associate	Professor,	biotech	entrepr...
First	BD-performance	study	
•  Data	
–  73	CEO	responses	from	a	sample	
of	205	growth	firms	(OECD,	
2007)	
–  Firms	establi...
…and	all	that	youtube	
©	2016	Hans	Eibe	Sørensen	 Business	Development	-	status	of	research	and	prac<ce	 18
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Keynote: Status of Business Development Research & Practice

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This keynote on the Status of Business Development Research & Practice was presented 30 June 2016 at the 4th International Conference on Marketing and Business Development in Bucharest.

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Keynote: Status of Business Development Research & Practice

  1. 1. BUSINESS DEVELOPMENT status of research and prac<ce Keynote 30. June 2016 © 2016 Hans Eibe Sørensen Business Development - status of research and prac<ce 1
  2. 2. © 2016 Hans Eibe Sørensen Business Development - status of research and prac<ce 2
  3. 3. Agenda •  Premise and background •  Business development research – The literature – The construct – The academic challenge •  Business development prac<ce – What and where is business development then? – The business developer / integra<ng generalists •  Some recent research (if <me) 3 Business Development - status of research and prac<ce © 2016 Hans Eibe Sørensen
  4. 4. The keynote’s premise •  Why do we run businesses? –  To make owners make more money than from an ‘alterna<ve investment’ •  How do we secure temporary or sustained profits? –  Compe<ve advantage –  Valuable and Rare resources and capabili<es that are founda<on for Inimitable strategies –  Sound Organiza<on •  Business development –  is a capability that assures be^er prepara<on and imlementa<on of growth opportuni<es 4 Business Development - status of research and prac<ce © 2016 Hans Eibe Sørensen
  5. 5. Some backgound General confusion about business development’s actual meaning, organiza<on, tasks, processes and people Google hits on ”Business Development” –  2005: 59.300.000 –  2015: 159.000.000 –  2016: 97.900.000 (earlier this year: 186.000.000 – did Google grow wiser?) Less than 15 published academic papers on business development © 2016 Hans Eibe Sørensen 5 Business Development - status of research and prac<ce
  6. 6. The BD literature – a short story •  Conceptual work –  Bussgang et al. (2012) and Sørensen (2012) and Burgelman (1983) •  Case-based work –  medium-sized technology-based firm (Ui^enbogaard et al., 2005) and IT SMEs (Davis and Sun, 2006), –  biotech firms (Kind and Knyphausen-Aufseß, 2007; Lorenzi and Sørensen, 2014), –  Interviews with business development experienced (Eidhoff and Poelzl, 2014; Giglierano et al., 2011) –  content analysis on business development job pos<ngs (Turgeon, 2015) •  Survey-based work –  Sørensen (2016) – and Trichterborn et al. (2015) •  Forthcoming special issue in IJEIM in a few months © 2016 Hans Eibe Sørensen 6 Business Development - status of research and prac<ce
  7. 7. What is business development, really? •  Developing the business? •  Sales? •  Key Account Manager? •  IT-programmer? •  Corporate finance? •  Manager of offshoring? •  Product development? •  Strategy development? •  The employee we really can’t find a label for? © 2016 Hans Eibe Sørensen 7 Business Development - status of research and prac<ce
  8. 8. Business development defined •  Business development refers to 1.  the tasks and processes concerning analy<cal prepara<on of poten<al growth opportuni<es, 2.  the support and monitoring of the implementa<on of growth opportuni<es, 3.  but does not include decisions on strategy and execu<on of growth opportuni<es or their actual implementa<on. •  Contextual demarca<ons on growth opportuni<es –  Non-trivial and non-strategic –  Within constraints of strategic momentum and corporate strategy 8 Business Development - status of research and prac<ce © 2016 Hans Eibe Sørensen
  9. 9. The academic challenge Unique BD ac,vity? No Yes Labeled BD? Yes Confused other business ac<vity Trve business development No Other business ac<vity Dormant business development © 2016 Hans Eibe Sørensen 9 Business Development - status of research and prac<ce How well a construct achieves empirical and theore<cal meaning, i.e. construct validity, lies in the heart of scien<fic progress (Nunnally & Bernstein, 1994; Sørensen & Slater, 2008)
  10. 10. © 2016 Hans Eibe Sørensen Business Development - status of research and prac<ce 10
  11. 11. Business development prac<ce •  Lesser confusion about business development’s actual meaning, organiza<on, tasks, processes and people now? •  Let’s borrow a typical challenge: “It is fashionable for a speech-making president these days to contend that his company is ’market- oriented.’ He seldom defines the term, rarely goes into further detail, and frequently is not quite sure what he has said.” (Lear, HBR 1963) “We did not see the relevance of the BD funcRon; otherwise, we would have implemented this funcRon earlier” (Kind & Knyphausen-Aufseß, 2007) © 2016 Hans Eibe Sørensen 11 Business Development - status of research and prac<ce
  12. 12. Growth Opportunity Where is Business Development? © 2016 Hans Eibe Sørensen Business Development - status of research and prac<ce 12 Research Product Development Business Development Daily Opera,ons Strategy Development Sales / Marke,ng… Screening Decision Screening Opportunity genera,on planning, screening ‘Market Launch’ planning Implementa,on Business-as-usual : Func<on : Stage Legend Source: Sørensen (IJEIM 2016)
  13. 13. The Business Developer •  Business developers are integra<ng generalist; –  Having prac<cal knowledgeable about the technology, product, customer values, and industry dynamics –  Being capable to think conceptually and abstract and not just “closing deals” –  Having specialists knowledge from mul<ple business func<ons –  Having experience with both top management and with working in line-func<ons. 13 Business Development - status of research and prac<ce © 2016 Hans Eibe Sørensen “thinks like senior management, but located at a tac,cal level”
  14. 14. The integra<ng generalist 14 Business Development - status of research and prac<ce © 2016 Hans Eibe Sørensen Source: adapted from Sørensen (2012)
  15. 15. Summary •  Premise and background •  Business development research – The literature – The construct – The academic challenge •  Business development prac<ce – What and where is business development then? – The business developer / integra<ng generalists •  Some recent research (did we have <me?) 15 Business Development - status of research and prac<ce © 2016 Hans Eibe Sørensen
  16. 16. 16 © 2016 Hans Eibe Sørensen Many thanks!! Q & A Hans Eibe Sørensen, PhD Hybrid, Associate Professor, biotech entrepreneur, etc. hans@eibe.dk linkedin.com/in/hanseibe Business Development - status of research and prac<ce
  17. 17. First BD-performance study •  Data –  73 CEO responses from a sample of 205 growth firms (OECD, 2007) –  Firms established prior to 2006, 10-250 employees (full-<me equivalents) in 2008, and average yearly growth of 20% in employees during 2008-2011. •  Main variables –  Business Planning –  Business Developer Support –  Business Development •  Results © 2016 Hans Eibe Sørensen 17 BD (BP*BDS) BDS BP BD BDS BP PERF Note: Graphs are correla<ons Business Development - status of research and prac<ce Source: Sørensen (IJEIM 2016)
  18. 18. …and all that youtube © 2016 Hans Eibe Sørensen Business Development - status of research and prac<ce 18

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