Business development is important for growing a business. It involves identifying opportunities for a business to expand through new ideas, partnerships, and initiatives. This helps increase profits and strategic relationships. Business development creates long-term value by understanding customers' needs, building strong relationships with partners and employees, and effectively comprehending the target market and its preferences. Implementing business development strategies makes growing a business easier for entrepreneurs and leaders.

1. 7/1/2018 Steven Scansaroli Blogs: Why Is Business Development Important?
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Sunday, June 10, 2018
Why Is Business Development Important?
Growing a business is a challenge for many entrepreneurs and leaders and implementing
business development makes their objective much easier.
What is business development?
Business development is about looking for or building opportunities to make an organization grow
– and ensuring these opportunities are grabbed and taken advantage of through ideas, initiatives,
and activities. The target results are increased profits, strategic partnerships, and sound business
decisions.
Other business leaders actually provide different definitions for business development. But a
unified theory has been formulated for it, to wit: “Business development is the creation of long-
term value for an organization from customers, markets, and relationships.”
The three entities mentioned are essential to the success of a business.
Customers, of course, bring in the revenue, and without them, there would be no business to
develop. Products and services must then be designed to meet their preferences, and business
development helps achieve this without compromising the need to meet organizational
requirements.
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2. 7/1/2018 Steven Scansaroli Blogs: Why Is Business Development Important?
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Posted by Steven Scansaroli at 4:08 AM
Labels: business, business development, organization
There was a time when market was defined as a place wherein consumers are converged. But
over time, its meaning went beyond the physical location; market is now defined by the collective
demographics, lifestyles, and buying mindset of target customers. With business development,
understanding the market can be more effectively and efficiently done.
Business leaders understand that their success relies heavily on strong relationships with
customers, partners, employees, and other parties. Business development efforts determine the
best ways to establish these relationships for the sake of the growth of the business.
Throughout his career, Steven Scansaroli has specialized defining and implementing strategies
that drive profit and competitive market advantage in businesses. For similar articles, check out
this website.
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Steven Scansaroli
Steven Scansaroli began his
career at the age of 15. He
first worked for
Electrocatalytic, a worldwide
leader in chemical water
treatment technology, where he eventually
became an electrical technician. Upon
graduation, he held various positions in
several companies, including Chattem
Chemical. Upon finishing his master’s degree
in the University of Scranton, Steven
Scansaroli was appointed to Field Sales
Director, Human Resources for Stryker
Orthopaedics, where he became part of the
first dedicated orthopedic trauma sales force.
At Stryker, he won many awards, including the
coveted Roland Melanson Award and Lawson
Cup as a critical part of the Philadelphia team.
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