Business Development Essay Example | Topics and Well Written Essays - 2000 words

furrow Development - Essay ExampleBy acquisition these very basic steps, running our own business and developing it can be both elicit and rewarding. It is our ability in developing and implementing strategies effectively that will avert stressful and unpredictable situations in business.It is a truth that the sandwich business is a rapidly growing segment of the fast-food industry as show by the issue of various brands across the globe. (Emerald MangementXtra). Hence, there is opportunity to every player in the market, and background signal for improvement.The decision to develop products and services can mark the beginning of an extremely difficult process for umpteen businesses. In item, new product development is often considered to be the cornerstone for building any thriving business. With come forth it, businesses tend to stagnate, and then eventually decline. This is particularly true for small scale businesses. It is a proven fact that products and services you are o ffering will serve as the catalyst that drives your business to higher levels of success. Business development should never be a long and costly endeavor.Objectives of any enterprise is to establish its laughable presence in the related business activity, make, develop and surge ahead, by being dynamic and growth oriented, through planning. Planning is the backbone of any business venture be it a small sandwich shop or a multi national organization. A step by step plan is the vegetable marrow requirement for developmental process, along with proper resource and budget allocation.This step is detrimental to the organization to sustain and develop further in the market. A SWOT (Strength, Weakness, Opportunity and Threat) analysis need to be carried out to identify our established strengths related to the products/services offered by the establishment, our competitive edge, existing and target customers, their expectation, sales and merchandising strategies, pricing, an effective ma rketing plan,