Posted: March 12th, 2022

Business Development Process

Business Development Process
Computer Sciences and Information Technology
Write a proposal for the development process and the business justification and benefits for the project. I attached other parts of this project below.
Business Development Process
The business development process takes the implementation of an idea and introduction of a new product in stages that ensure high levels of success. The introduction and implementation of an idea or a product to the market take calculated steps and processes that are directed towards increasing the success of the product to ensure that they are profitable and bring substantial revenue to the business. Equally important, the business development process takes the establishment of the business goals, marketing, promotion, human resource planning and the incorporation of the relevant legalities. Business implementation and launching of the products and ideas take the business development process thus increasing the chances of success.
Business development process and justification
The business development process is done in steps that include the creation of the idea, determining feasibility, making a decision and launching the product or the idea. The first step in the business development process is the creation of the idea (Petersen and Welch, 2003). The ideas id developed by groups or individuals in the business in the interest of addressing a challenge/problem/barrier or making new development concerning technology or innovation. The idea must be aligned to the brand and must ensure that it is in the interest of the business. Consequently, a feasibility study of the product or the idea is conducted to determine if the idea is implementable and it worth the investment. The feasibility is vital as it enables the company to save on money and time in the case the organization decides to invest. Furthermore, the business moves to the stage of decision making regarding whether to adopt the idea or not (Van Marrewijk et al., 2004). The feasibility study provides the parties involved in deciding with the relevant information regarding the idea and its performance in the market. In this case, the information from the feasibility study favors the ideas and the idea can be implemented and result in profitability then a decision is made to implement the idea. On the other hand, if the information reveals that it is impossible to implement the idea and the implementation will result in losses the idea is terminated. This stage is vital as it ensures that the business will only engage in successful ideas. Moreover, the idea moves to the implementation stage where actual strategies and policies are adopted to realize the operations of the idea and the results (Sorensen, 2012). In the implementation stage, the business invests in the idea and gets the appropriate professional and parties to implement the idea. This stage is vital as it ensures that the actual results of the ideas can be enjoyed and realized. Lastly, the idea is launched and introduced it to the market to begin realizing profits.
Benefits of the development process
The business development process has a wide range of benefits to ensure that a business makes a profit and substantial economic development. The business development process ensures that the business engages in a successful business (Doherty, Ashurst and Peppard, 2012). In this, the ideas will ensure that the business makes profits and attracts new customers and retains the old customer. The new ideas and products increase the business competitiveness in the market thus making it appealing.
Conclusion
The business development process is a vital aspect of any business that wishes to introduce new products and ideas. The business development process takes is implemented in stages that approach the idea with caution in the interest of ensuring that it alights to the business brand and it will increase the profit as well as increase revenues. Therefore, the business development process ensures that the business in question will only invest in profitable ventures.

References
Doherty, N. F., Ashurst, C., & Peppard, J. (2012). Factors affecting the successful realisation of benefits from systems development projects: findings from three case studies. Journal of Information technology, 27(1), 1-16.
Petersen, B., & Welch, L. S. (2003). International business development and the internet, post-hype. In MIR: Management International Review (pp. 7-30). Gabler Verlag, Wiesbaden.
Sørensen, H. E. (2012). Business Development: a market-oriented perspective (Vol. 1, p. 26). Chichester: Wiley.
Van Marrewijk, M., Wuisman, I., De Cleyn, W., Timmers, J., Panapanaan, V., & Linnanen, L. (2004). A phase-wise development approach to business excellence: Towards an innovative, stakeholder-oriented assessment tool for organizational excellence and CSR. Journal of Business Ethics, 55(2), 83-98.

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