Business development is the identification of long-term methods to increase value through the development of relationships, markets and customers. A business development executive or a business developer is a professional who assists companies in expanding their business operations and value. They may work as part of the company as a regular, salaried employee or as an independent consultant on a contract basis. Depending on the industry, the day-to-day tasks of business developers and the strategies they employ may vary, but the overall mission remains the same.

Business development has multiple facets. Business development executives work with various professionals, including sales staff, marketing executives, managers and vendors. In addition to the different departments that business developers work with, they are also expected to manage aspects of a business like partnerships and alliances, cost-reduction mechanisms, negotiations and networking. The following departments and aspects are brought together by business developers, using unified development goals:

• Sales
• Marketing
• Partnerships
• Project management
• Vendor management
• Negotiations, networking and lobbying
• Cost reduction
• Communication skills
• Marketing skills
• Business intelligence
• Analytical skills
• Project management skills