Business development is an extremely broad domain comprising of various activities such as expanding the scope of a business, creating long term value of the organization’s products, creating and maintaining customer relations and attempting to expand market base at regular intervals. Business development is among the most crucial activity that a business organization might engage in and might define the basis of organizational survival. The importance of business development for an organization might also be realised from the fact that it is at the core of every project and business decision undertaken by management officials. Business development might also lie at the core of corporate social responsibilities undertaken by a business organization as giving back to the community would serve to improve public image which in turn would serve to expand markets.
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