Corporate development is responsible for finding and exploiting business opportunities with the aim of increasing sales. It could range from purchasing rivals to collaborating with a different company in joint ventures. This type of work is typically beyond the normal routines of traditional departments, such as accounting/finance, logistics/supply chains or human resources control.
Corporate development departments must possess excellent interpersonal and business model abilities. They must be able to quickly and effectively evaluate the potential of a deal or project and make sound decisions. The corporate development team must be able to effectively communicate with other departments in the organization and work closely with other departments.
Often, the goal of corporate development is to increase the size of the company through mergers and acquisitions (M&A). M&A is a complex procedure that requires a lot of studies and analyses. The corporate development team has to be able to identify the right companies to determine whether the deal is a fit.
There are many ways to organize a team for corporate development that range from a central unit, to a model in which the business selects the right members for each situation. The team is typically made up of https://datenraume.ch/the-honest-overview-of-the-aprio-board-software-features-and-benefits/ finance and business professionals. A strong mix of skills is vital to ensure that deals are sourced efficiently and in keeping with the goals of the company.
The most successful corporate development executives have backgrounds in business or financial management as they must be able to comprehend and align the strategic, technical and product goals with the financial objectives of the company. This isn’t easy for those with more of a marketing background but it is a crucial capability when it comes down to M&As.