A chief business development officer is a business executive who is responsible for increasing a company’s profits and growth. This individual is usually a senior executive at a company who collaborates with other executives to run the business and determine its direction and market share. He spends a lot of time coordinating with other departments across the company and is usually in charge of employee training and evaluation.
The chief business development officer is responsible for helping to shape the overall business vision and customer base in collaboration with other company managers. He may be in charge of developing plans and strategies to gain control of more market segments, as well as determining the company’s strategy for doing so. This executive must have a thorough understanding of market and industry dynamics, as well as the ability to maintain relationships with other influential industry and business professionals who are directly related to his market. On budgets and costs, he collaborates with a chief financial officer, and on company goals and practices, he collaborates with the president, board members, or operating officers.
Advertising is one aspect of the business that may require this executive’s attention. This officer frequently coordinates and, on occasion, leads those involved in publicizing product specifications. He could also be in charge of instigating and approving artwork and other forms of media marketing.
In addition, the chief business development officer collaborates closely with the sales department to develop plans and strategies for acquiring new customers and business opportunities. He might be in charge of coordinating sales forecasts and monitoring customer accounts. He may be personally responsible for accounts at a smaller company, while at a larger company, he may focus more on sales team supervision.
Depending on the size and industry of the company, the work environment may be fast paced or relaxed. This executive typically spends the majority of his or her day meeting with others, establishing procedures, and working on goal-setting. He may also be in charge of employee supervision and evaluation. He’ll almost certainly spend a lot of time communicating with colleagues and people from other organizations via computers and phones. He could be a senior official who extends hospitality to clients or guests, and he could be required to travel to customer locations for sales and marketing.