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BUSINESSDEVELOPMENTstatusofresearchandprac<ce
Keynote30.June2016©2016HansEibeSørensen BusinessDevelopment-statusofresearchandprac<ce 1
©2016HansEibeSørensen BusinessDevelopment-statusofresearchandprac<ce 2
Agenda• Premiseandbackground• Businessdevelopmentresearch– Theliterature– Theconstruct– Theacademicchallenge
• Businessdevelopmentprac<ce– Whatandwhereisbusinessdevelopmentthen?– Thebusinessdeveloper/integra<nggeneralists
• Somerecentresearch(if<me)3BusinessDevelopment-statusofresearchandprac<ce©2016HansEibeSørensen
Thekeynote’spremise
• Whydowerunbusinesses?– Tomakeownersmakemoremoneythanfroman‘alterna<veinvestment’
• Howdowesecuretemporaryorsustainedprofits?– Compe<veadvantage– ValuableandRareresourcesandcapabili<es
thatarefounda<onforInimitablestrategies– SoundOrganiza<on
• Businessdevelopment– isacapabilitythatassuresbe^erprepara<onandimlementa<onofgrowthopportuni<es
4BusinessDevelopment-statusofresearchandprac<ce©2016HansEibeSørensen
Somebackgound
Generalconfusionaboutbusinessdevelopment’sactualmeaning,organiza<on,tasks,processesandpeopleGooglehitson”BusinessDevelopment”
– 2005:59.300.000
– 2015:159.000.000
– 2016:97.900.000(earlierthisyear:186.000.000–didGooglegrowwiser?)
Lessthan15publishedacademicpapersonbusinessdevelopment
©2016HansEibeSørensen 5BusinessDevelopment-statusofresearchandprac<ce
TheBDliterature–ashortstory• Conceptualwork
– Bussgangetal.(2012)andSørensen(2012)andBurgelman(1983)• Case-basedwork
– medium-sizedtechnology-basedfirm(Ui^enbogaardetal.,2005)andITSMEs(DavisandSun,2006),
– biotechfirms(KindandKnyphausen-Aufseß,2007;LorenziandSørensen,2014),
– Interviewswithbusinessdevelopmentexperienced(EidhoffandPoelzl,2014;Giglieranoetal.,2011)
– contentanalysisonbusinessdevelopmentjobpos<ngs(Turgeon,2015)
• Survey-basedwork– Sørensen(2016)–andTrichterbornetal.(2015)
• ForthcomingspecialissueinIJEIMinafewmonths
©2016HansEibeSørensen 6BusinessDevelopment-statusofresearchandprac<ce
Whatisbusinessdevelopment,really?• Developingthebusiness?• Sales?• KeyAccountManager?• IT-programmer?• Corporatefinance?• Managerofoffshoring?• Productdevelopment?• Strategydevelopment?• Theemployeewereally
can’tfindalabelfor?
©2016HansEibeSørensen 7BusinessDevelopment-statusofresearchandprac<ce
Businessdevelopmentdefined• Businessdevelopmentrefersto
1. thetasksandprocessesconcerninganaly<calprepara<onofpoten<algrowthopportuni<es,
2. thesupportandmonitoringoftheimplementa<onofgrowthopportuni<es,
3. butdoesnotincludedecisionsonstrategyandexecu<onofgrowthopportuni<esortheiractualimplementa<on.
• Contextualdemarca<onsongrowthopportuni<es– Non-trivialandnon-strategic– Withinconstraintsofstrategicmomentumandcorporatestrategy
8BusinessDevelopment-statusofresearchandprac<ce©2016HansEibeSørensen
Theacademicchallenge
UniqueBDac,vity?
No Yes
Labe
ledBD
?
Yes
Confusedotherbusinessac<vity
Trvebusinessdevelopment
No
Otherbusinessac<vity
Dormantbusinessdevelopment
©2016HansEibeSørensen 9BusinessDevelopment-statusofresearchandprac<ce
Howwellaconstructachievesempiricalandtheore<calmeaning,i.e.constructvalidity,liesintheheartofscien<ficprogress(Nunnally&Bernstein,1994;Sørensen&Slater,2008)
©2016HansEibeSørensen BusinessDevelopment-statusofresearchandprac<ce 10
Businessdevelopmentprac<ce• Lesserconfusionaboutbusinessdevelopment’sactual
meaning,organiza<on,tasks,processesandpeoplenow?• Let’sborrowatypicalchallenge:“Itisfashionableforaspeech-makingpresidentthesedaystocontendthathiscompanyis’market-oriented.’Heseldomdefinestheterm,rarelygoesintofurtherdetail,andfrequentlyisnotquitesurewhathehassaid.”
(Lear,HBR1963)“WedidnotseetherelevanceoftheBDfuncRon;otherwise,wewouldhaveimplementedthisfuncRonearlier”(Kind&Knyphausen-Aufseß,2007)
©2016HansEibeSørensen 11BusinessDevelopment-statusofresearchandprac<ce
GrowthOpportunity
WhereisBusinessDevelopment?
©2016HansEibeSørensen BusinessDevelopment-statusofresearchandprac<ce 12
Research
ProductDevelopment
BusinessDevelopment
DailyOpera,ons
StrategyDevelopment
Sales/Marke,ng…
Screening Decision Screening
Opportunitygenera,onplanning,screening
‘MarketLaunch’planning Implementa,on Business-as-usual
:Func<on:Stage
Legend
Source:Sørensen(IJEIM2016)
TheBusinessDeveloper
• Businessdevelopersareintegra<nggeneralist;– Havingprac<calknowledgeableaboutthetechnology,product,customervalues,andindustrydynamics
– Beingcapabletothinkconceptuallyandabstractandnotjust“closingdeals”
– Havingspecialistsknowledgefrommul<plebusinessfunc<ons
– Havingexperiencewithbothtopmanagementandwithworkinginline-func<ons.
13BusinessDevelopment-statusofresearchandprac<ce©2016HansEibeSørensen
“thinkslikeseniormanagement,butlocatedatatac,callevel”
Theintegra<nggeneralist
14BusinessDevelopment-statusofresearchandprac<ce©2016HansEibeSørensenSource:adaptedfromSørensen(2012)
Summary• Premiseandbackground• Businessdevelopmentresearch– Theliterature– Theconstruct– Theacademicchallenge
• Businessdevelopmentprac<ce– Whatandwhereisbusinessdevelopmentthen?– Thebusinessdeveloper/integra<nggeneralists
• Somerecentresearch(didwehave<me?)15BusinessDevelopment-statusofresearchandprac<ce©2016HansEibeSørensen
16©2016HansEibeSørensen
Manythanks!!
Q&AHansEibeSørensen,PhDHybrid,AssociateProfessor,biotechentrepreneur,etc.hans@eibe.dklinkedin.com/in/hanseibe
BusinessDevelopment-statusofresearchandprac<ce
FirstBD-performancestudy• Data
– 73CEOresponsesfromasampleof205growthfirms(OECD,2007)
– Firmsestablishedpriorto2006,10-250employees(full-<meequivalents)in2008,andaverageyearlygrowthof20%inemployeesduring2008-2011.
• Mainvariables– BusinessPlanning– BusinessDeveloperSupport– BusinessDevelopment
• Results
©2016HansEibeSørensen 17
BD(BP*BDS)BDSBP
BD
BDS
BP
PERF
Note:Graphsarecorrela<ons
BusinessDevelopment-statusofresearchandprac<ce
Source:Sørensen(IJEIM2016)
…andallthatyoutube
©2016HansEibeSørensen BusinessDevelopment-statusofresearchandprac<ce 18
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