Defining business development can be difficult. People often lump business development under sales or partnership-building. However, business development can be defined simply as creating value for your company and growing your business. While that is a simple definition, it leaves a lot to the imagination.
At its core, business development is about long-term growth. The business developer’s job is to build relationships, manage future planning and monitor market research. Rather than focusing on quick profits for a company, the business developer favors a long view, focusing on a company’s future growth.
Getting involved in the process of business development, or even simply learning more about it, is easy with an advanced degree. For example, graduates of the online Master of Business Administration (MBA) program from Texas A&M University-Corpus Christi (TAMU-CC) are knowledgeable and effective when it comes to business development.
Breaking Into Business Development
There are many paths to becoming a business developer, but some are more certain than others. The first step is determining the type of business development you want to pursue. B2B, B2C, B2D and B2B2C are all somewhat confusing acronyms for someone just getting started in the field. These acronyms are just names for the types of relationships the business developer focuses on. B2B focuses on relationships between businesses, while B2C focuses on business-to-customer relationships. B2D throws developers into the mix.
According to the U.S. Bureau of Labor Statistics (BLS), the field of business — regardless of your focus — has projected job growth higher than the average for all other occupations over the next decade. While the job outlook for people in the business industry is good, earning an MBA can give applicants an edge in the recruitment and promotion process.
The business development career track begins with a solid education. Some business development professionals possess bachelor’s degrees, but more and more business developers are earning MBAs and PhDs to get a leg up on the competition. However, most employers are looking for both a solid education and proven work experience. While some business developers began their careers with either education or work experience, a relatively new option delivers both simultaneously: working while earning an advanced degree.
Balance Work and Education With an MBA Program Online
For many, earning an MBA is the path to follow. TAMU-CC’s online MBA program accounts for students who are also working professionals. As such, this program offers flexible online courses and project-based opportunities to integrate the students’ valuable experience. These courses help students build necessary skills and discover effective strategies to succeed in the modern business world.
The somewhat newer option along this path is earning an MBA online. TAMU-CC’s online MBA programs offer the rigor of traditional MBA programs with the flexibility of online formats. Rather than schedule courses around common schedules, many online MBA programs offer more flexible attendance via the internet. For those pursuing a career in business development, this online option presents the best of both worlds: Students gain valuable instruction while building their resumes and work experience.
Learn more about the Texas A&M University-Corpus Christi online MBA program.
