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Business development is the creation of long-term value for an organization from customers, markets, and relationships. Business development can be taken to mean any activity by either a small or large organization, the non-profitable or for-profit enterprise which serves the purpose of ‘developing‘ the business in some way.
Business development (BD) is the process that is used to identify, nurture, and acquire new clients and business opportunities to drive growth and profitability. A business development strategy is a document that describes the strategy you will use to accomplish that goal.
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