What role do managers play in business
Information in the area of business development.
Knowledge & requirements.
Which subjects are suitable?
The professional background of the Business Development Manager depends on the business in which he works. There is no specialized business development course, but in some economics master’s courses it is possible to focus on business development. In principle, business development managers can work in all industries that are oriented towards innovation and technology. Engineers are particularly in demand as business development managers. The most important industries for the BDM are in the field of science and technology:
- Pharmaceutical industry
- mechanical engineering
How important is international experience?
Managers in business development spend a large part of their time traveling, with international customers or partners and exploring new, foreign markets. Most companies therefore need intercultural skills and the willingness to travel. So it is important that you already have some international experience. Business fluent English skills are essential as a BDM. Depending on the area of application, other European or Asian languages may be advantageous.
Which soft skills do I need?
In addition to technical know-how, as a BDM you should bring a number of social and personal skills with you. You will often find sought-after soft skills in job vacancies:
- Communication and negotiation skills
- Analytical thinking
- Entrepreneurial expertise
- Creativity to develop new business areas
- A feeling for economic trends and influences
- An independent, self-reliant and goal-oriented way of working
- Assertiveness and a confident demeanor in negotiations with customers or partners
- Ability to work in a team and to organize, as business development managers are often employed in a management position
How important is practical experience?
As a BDM you need a high level of expertise within the industry in order to be able to assess which innovative ideas have a chance on the market, business development management is rarely an entry-level position. Most companies require professional experience of three to five years with experience in the areas of sales, marketing, project management and controlling. This is also reflected in your salary. So lateral entrants have a good chance of getting started as a manager in business development.
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