Corporate development is the process of identifying and maximising opportunities for business in order to increase sales. It can include acquiring rivals to collaborating with another company in joint ventures. This function typically falls outside the routines of traditional departments like accounting/finance or logistics/supply chain as well as human resources control.
Corporate development departments need to have excellent interpersonal and business model skills. They should be able quickly and effectively assess a potential deal or project and make informed decisions. It is also crucial for the corporate development team to communicate effectively and work closely with other departments within the organization.
The aim of corporate growth is usually to expand the business by acquiring and merging (M&A). The M&A process can be complex and requires extensive research and analysis. The corporate development team needs to be able to identify the best companies for each M&A opportunity and assess whether the proposed transaction is a good match.
There are a variety of ways to structure the corporate development team starting from a centralized unit or model that allows the business to select the appropriate members for each situation. The team is typically made up of finance and business professionals. A mix of abilities and experiences is essential since it allows for efficient source of deals that are in line with the business’s goals for growth.
The most successful corporate development executives have experience in business or financial management as they have to comprehend and align the strategic, technical and product goals with the financial objectives of the company. This isn’t easy for those with a more an understanding of marketing but it is a crucial skill when it comes to M&As. If you need additional help, you can hire Marketing Consultant Newcastle.