Corporate development is the process of identifying and maximizing opportunities for business in order to increase sales. It could include anything from acquiring competitors to collaborating with other companies in joint ventures. This kind of function is usually outside of the routines of traditional departments such as accounting/finance, logistics/supply chain, or human resources control.
Corporate development departments should have excellent interpersonal and business model abilities. They should be able to quickly and efficiently assess any potential deal or project and make sound decisions. The corporate development team must also be able to communicate effectively with other departments in the company and work with other departments.
The goal of corporate growth is usually to expand the company through mergers and acquisitions (M&A). The M&A process is often complex and requires a lot of research and analysis. The corporate development team has to be able identify the right companies and determine whether the transaction is suitable.
There are several ways to organize a corporate development team including a centralized unit to a system in which the business selects the most appropriate team members for each situation. It is typical for the team to be comprised of both business and finance professionals. Having a strong mix of skills and experiences is crucial since it allows for efficient sourcing of deals that align with the company’s growth goals.
Corporate development executives who have a strong business or financial background are more likely to succeed. They must be able understand and align technological, strategic, and product goals and financial objectives. This can be difficult for those with a more an academic background in marketing but is a vital expertise when it comes to M&As.
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