1 Overview Business Development – Broadly used term Traditional Business Development Business Development – The last five years Business Development – Recent Evolution Key Success Factors in the New Economy Role of the Business Development Executive Conclusion

2 Business Development - Broadly Used Corporate Alliances New Business Development Sales Account Management Media Buying Mergers and Acquisitions

3 Traditional Business Development Environment Large, stable companies Long term planning and objectives Incremental change Well defined corporate roles and responsibilities Business Development Teams Small group of senior deal makers (40+ yrs old) Focused on small number of strategic deals (Corp Alliances, New Businesses, M&A) Long deal cycles (months or even years)

4 Business Development - Last Five Years Environment Small, very dynamic companies Little to no strategic planning Discontinuous, constant change Poorly defined organizational structure and roles Business Development Teams Larger groups of younger, early adopters Focused on many deals of various size and type, generally tactical (tactical = strategic) Short deal cycles – modern day land grab

5 Business Development - Recent Evolution Environment Industry becoming clearer - Battle lines drawn Consolidation and shakeout well underway Business discipline and planning back in style Dynamic change – handled more adroitly Business roles better defined Business Development Teams Becoming smaller, more senior/experienced Greater strategic planning creating deal focus More business discipline and rigor in deals

6 Key Success Factors in the New Economy The important charater traits have not changed Hard Work Critical Thinking Problem Solving Innovation Communications Excellence

7 The Role of the Business Development Executive Manage Relationships Anticipate Change Seize Opportunities

8 Manage Relationships External Networking to establish and maintain relationships Understand business issues and needs Learn corporate structures and decision makers Brainstorm ideas and concepts Internal Thorough understandingof the business Be aware of internal politics and sensitivities Build bridges with key decision makers Educate company about market conditions

9 Anticipate Change Change is rarely a well kept secret Listen to those positioned to know Observe the the market and its trends closely Understand technology and its implications Critically evaluate current solutions Develop innovative solutions to problems Extrapolate market solutions

10 Seize Opportunities Timing is everything - be patient Know what you want and your walk away point Engage decision makers with strategic offers which meet both companies goals Preserve core business principles and discipline Don’t be afraid to say ‘no’ Communicate the deal throughout the organization Commit the necessary resources

11 Conclusion Last five years have been characterized by business development-like behavior Marketplace is becoming better understood and the role of BD is strategic and important Current market environment demands near flawless business decisions including business development Business Development requires clearly communicated goals and objectives and management driven business discipline