Corporate development is the process of identifying, and then maximizing opportunities to increase sales. It can include buying rivals to working with a different company in joint ventures. This is usually out of the routines of traditional departments such as accounting/finance, logistics/supply chain, or human resources control.
Corporate development departments need to have excellent interpersonal and business model abilities. They should be able quickly and efficiently evaluate any potential deal or project and make informed decisions. The corporate development team must also be able to communicate effectively with other departments within the organization and work closely together.
Often, the goal of corporate development is to expand the company through mergers and acquisitions (M&A). The M&A process is usually complex and requires a lot of analysis and research. The corporate development team needs to be able to identify the right companies for each M&A opportunity and assess whether the deal is a good match.
There are a variety of ways to structure a corporate development team that range from a central unit or a model that allows the business to select the most appropriate team members https://datenraume.ch/the-honest-overview-of-the-aprio-board-software-features-and-benefits/ for each situation. The team is typically made consisting of finance and business professionals. A strong mix of skills is essential to ensure that deals are sourced efficiently and in conformity with the company’s goals.
The most successful corporate development executives have experience in finance or business because they need to comprehend and align the technical, strategic and product goals with the financial goals of the company. This can be a challenge for those with more of an academic background in marketing, but is an essential ability when it comes to M&As.