Edition 49
Message from the Editor - Business Development Strategy
by Laura Nixon, Editor of RL Magazine, Reverse Logistics Association

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The term ‘business’ is defined as the purchase and sale of goods in an attempt to make a profit. Business development is basically developing a further thought out plan to increase the revenue. The best management practices and strategies, as well as good knowledge help a business to grow. A business development manager must have the ability to undertake plans for the growth of the business. The plans can occassionally be dreary but it can revolutionize the business or the company in the long term.

With the competitive environment of businesses today, challenges become more complicated and require more comprehensive problem solving techniques. Advertising, finance and legal skills are all involved in the development of any type of business. Being creative in the field adds to the benefits in the long term operation and help to deal with any challenges in the future. A multi disciplinary approach ensures a successful business development strategy, which can lead to sustainable growth for the business. With the competitive environment of businesses today, challenges become more complicated and require more comprehensive problem solving techniques.


A strategic marketing plan is essential to help a business grow and succeed. The different issues that may arise regarding the business must be addressed in the plan. Different factors that can affect or influence a business can include: alteration of customer, dynamics of the marketing structure, target market, ability to fulfill the market/customer needs, and developing the desirable products or solutions. A large part of a successful business lies heavily on the development strategy, which needs to be carefully planned.

There are two types of approaches that are utilized in any business. The first is known as bottom-up approach. This style promotes participation of employees at all levels and flows upwards of management. This type of approach can also stimulate creativity and allow flexibility. The second is known as top-down approach. This seems to be more typical of large organizations. Senior management will identify problems or strategies, and solutions then flow down the line of lower management.
RLM

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