Elements and Performance Criteria
- Identify new business opportunities.
- Review existing operations to identify and analyse new business opportunities.
- Research business trends relevant to the organisation to identify new business opportunities.
- Identify and evaluate opportunities and threats from internal and external environments.
- Consult with stakeholders and customers to seek input into business opportunities.
- Determine organisational capacity to respond to identified opportunities and select opportunities to peruse.
- Develop a business development plan.
- Prepare feasibility studies and reports that assess viability, profitability and sustainability of development opportunities.
- Analyse risks associated with initiatives and ensure compliance with legislative and regulatory requirements.
- Develop and document a business development plan outlining priorities, responsibilities, performance indicators, timelines and budgets.
- Communicate plans to relevant personnel and seek required approval.
- Test business development initiatives for acceptance in the market place.
- Prioritise potential business development opportunities for action.
- Implement business development plan.
- Evaluate impact of business development plans.