I’ve been meaning to write this post for a bit. Saeed’s post on the same topic helped me formulate some ideas.
Business Development = Business (sales, creating transactions) + Development (product development)
The fact is that sometimes products have to change to meet customers needs. In the old economy the company produces a product, puts it on the shelf and hopefully it sells. Today, production is flexible and customizable, especially in technology companies. Customers expect a product made to their specifications.
Business Development is the process of finding the customer’s needs, communicating these needs to the production team and then completing a transaction which will see the product built. BDev is either product design with the customer involved OR sales through product design.