For all interested, we are going to outline a concept of what the position of business development executive is. We will explain the main ideas of this job to you. Namely, we will cover such aspects as the duties and responsibilities that a BDE is delegated, and what requirements for this position should be met.
The first reasonable question you might have is, "What is a BDE?"
Who is a business development executive?
Business development executive is a crucial position in any corporation. This person is primarily responsible for working with the company's clients and profits. In different organisations, people in this position actually perform various functions. The maximum range of what a business development executive can do is to simultaneously manage sales, marketing, procurement, and logistics services. Often, the position of business development manager is perceived only as an administrator of sales and marketing, and sometimes just as an administrator of sales.
We can conclude that the position of a business development manager is a very important and responsible job, and of course, it has a list of duties and requirements.
What are the duties of a business development executive?
- Development of the commercial strategy of the enterprise
This includes the determination of a company's positioning, price segment, long-term and short-term goals, plans and ways to fulfill sales plans.
- The organisation of interaction of commercial and other departments in the company
All employees deal with sales. Even the actions of a secretary and technical support specialist will influence the sales success of a company. The task of a business development executive is to ensure that activities of non-selling units also make a positive impact and help, and do not interfere with staff from sales departments.
- Determination of sales channels
A BDE chooses the most promising and reliable channels and determines performance criteria. This employee takes measures to protect a business from having only one channel and is responsible for continually developing existing channels, which is one of the primary functions affecting sales stability.
- Formation of the algorithm of each sales channel
In order to make the sales channel effective, it is necessary to determine the business processes that are involved in the selling of products through the channel. A BDE registers these algorithms and fixes them. the most important thing is making sure that these algorithms work and do not interfere with business documentation.
- Operational control of sales managers
Even with a superbly designed strategy, success depends on the actions of each worker. The tactical task that determines the success of the entire strategy is about ensuring that outsiders do not disturb leaders from attaining goals.
- Evaluation of the effectiveness of the department and implementation of measures to improve results
It is impossible to build an ideal sales system once and for all. It is important to measure results, innovate, analyse, correct repeatedly and do it all the time.
- Connection to work with key accounts
There is a famous Pareto rule: 20 per cent of customers generate 80 per cent of revenue. The business development executive should personally control this 20%. Nevertheless, the BDE will control from 1 to 50% of clients depending on the size of the organisation.
- The organisation of training for managers
Building a training system for new and existing managers is one of the business development executive's responsibilities. Sometimes it is necessary to take part in the training of managers personally.
- Work with suppliers of the company
This is one of the principal duties of a BDE in a trading organisation. In a manufacturing company, the supply department may also be engaged in logistic support, but a business development manager must control this process since the prime cost is essential when it comes to sales.
- Coordination of marketing activity
Marketing and sales are flip sides of the same coin. Depending on the organisation, the share of marketing influence can reach up to 90% in the success of the company and, accordingly, it will occupy the same share in the work of the business development executive.
- Reducing company costs
When a company reaches high sales figures and occupies a significant market share, the issue of cost reduction becomes paramount, and then it becomes the primary responsibility of a business development executive.
These were the main aspects of the duties and responsibilities of the business development manager. This list confirms that business development executives are assigned strategic roles and responsibilities. Therefore, it is not surprising that a BDE is considered to be the number two person in any company.
What are the skills required for one to be a business development executive?
Each company has precise requirements for the education and skills of a business development executive. This employee should be able to:
- Develop and supervise the promotion of the company's products on the market;
- Discuss the budget with a financial director or CEO;
- Form and control distribution channels;
- Design a system of the material motivation of the company's employees together with the director of the personnel service;
- Participate in the formation of personal policy for hiring employees of the sales department and keep this division under control;
- Monitor sales reporting;
- Personally conduct especially difficult negotiations with high profile customers;
- Participate in the development of pricing policies and discount campaigns;
- Approve or reject advertising projects, promotion programmes, and branding.
Each organisation has its own additional requirements for a business development executive, but we have highlighted some of the main ones just to make everything clear to you. We hope our article was very informative and useful for you.
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