WHAT DOES A BUSINESS DEVELOPMENT DIRECTOR DO?
The Business Development Director orchestrates the evaluation and execution of licensing, mergers, and acquisitions, aligning closely with EPD and EPD's long-term strategies and the competitive market landscape. This role leads the commercial assessment of opportunities, ensuring strategic alignment and due diligence, and presents transaction proposals to senior leadership for decision-making. Additionally, the director manages new product launches, both internally developed and acquired, maintains critical external relationships, and ensures compliance with corporate governance and procedures.
A Review of Professional Skills and Functions for Business Development Director
1. Business Development Director Duties
- Sales Strategy Development: Develop a sales strategy within the territory aligned with each business unit's annual objectives.
- Executive Collaboration for Financial Analysis: Work with the executive team for forecasting, trends, revenue modeling, and financial risk analysis of business opportunities.
- Team Collaboration for Cross-Selling: Collaborate with team members for cross-selling to clients and prospects.
- CRM and Lead Management: Manage prospects and clients within CRM and develop leads from global databases.
- Market Trend Assistance: Assist team with trends, including competitive market analysis in key areas of cell/gene and advanced therapeutic markets.
- CRM Updates and Reporting: Manage CRM leads and updates, and report up to management teams on activities within the territory.
- Internal Communication Enhancement: Develop a feedback cadence with internal team members such as SMEs and Project Management to help improve communication and success in the business.
- Customer Business Analysis: Analyze and understand customers’ business strategy, future product plans, and expansion activities.
- Sales Target Achievement: Achieve personal booking targets.
- Visionary Business Prioritization: Define business priorities through a broad and far vision of market and technology needs.
- Business Development Initiatives: Initiate and manage business development activities that will strengthen, expand, and drive market penetration.
2. Business Development Director Details
- Strategic Understanding: Deeply understand EPD and EPD China long-term strategy, EPD China business, local market, and competition environment.
- Licensing, Mergers & Acquisitions: Proactively search, identify, and screen licensing in, mergers & acquisitions opportunities according to strategic requests.
- Commercial Assessment: Lead commercial assessment of potential opportunities (e.g., attractiveness, strategic fit, portfolio review, valuation, due diligence, and other key issues) with the proactive and timely involvement of all relevant country and divisional stakeholders.
- Decision Making: Make potential transaction proposals to the senior leadership team for decision.
- Negotiation: Play a key role as a center point in final agreement development and negotiation, and ensure implementation of adequate checks and balances during the deal execution process.
- Compliance: Ensure adherence to regulations, corporate governance, policies, and procedures.
- Project Leadership: Develop the launch strategy and project plan, engage the internal relevant functions with exceptional project leadership to deliver the expected result as planned.
- Product Launch Management: Manage the new product launch for the internal pipeline, including commercial assessment, preparation, and working process.
- External Product Launch Management: Manage the new product launch from external licensing in, mergers & acquisitions.
- Reporting: Provide regular reports to update the new product launch status according to the request.
- Effective Compliance: Ensure efficient and effective compliance with internal working processes.
- Relationship Building: Develop and maintain effective external relationships, which can influence the success rate of obtaining collaboration opportunities.
3. Business Development Director Responsibilities
- Business Development Leadership: Serve as Business Development Representative in the USA for Global Business Development Team and perform all associated duties as resourcing requires.
- Client Interaction and Negotiation: Interact with clients to explain the Company's operational strategy and related budgeting approaches and conduct pricing negotiations.
- Team Management and Mentorship: Manage and mentor the BD team to maintain the highest level of professionalism and responsiveness during the entire process.
- Leadership and Supervision: Provide leadership and task-related supervision to the BD team.
- CRM Management and Data Integrity: Responsible for the client and opportunity data collection and integrity in CRM tool (e.g., track and report the status of upcoming opportunities, calculate and track corporate win rates on a regular basis).
- Proposal Development and Business Acquisition: Develop new proposals and secure new business.
- Strategic Advisory: Advise BD team on prospecting and closing new projects.
- Performance Monitoring: Monitor monthly, quarterly, and annual BD proposals and review with the global team on a regular basis.
- Project Execution Coordination: Work closely with RD team and PM team to streamline project execution and completion.
- Budget Management: Responsible for the development and management of annual BD budget.
- Global Team Collaboration: Work with the Global Business Development Team, as well as Operations to ensure consistent messaging and approaches on global projects, proposals, and marketing materials; attend annual marketing events at industry conferences.
4. Business Development Director Job Summary
- Business Development: Responsible for the development, oversight, and management of all aspects of the existing and future business acquisition within the Mobility Operations business line.
- Operations Management: Develop and oversee the management of a unified Operations practice, introducing best practices and innovation to customers.
- Business Expansion: Expand the Mobility Operations business to include additional related services where WSP has expertise.
- Market Penetration: Capture the complete tolling, TMC, transit, and rail market in North America.
- Project Coordination: Meet with the Project Managers regularly during the contract to discuss general progress and direction of the operations business.
- Agency Liaison: Act as the designated liaison with the agencies for the management of the contract, and coordinate with the management of the sub-consultants to fulfill the duties and obligations of the contract including daily operations.
- Stakeholder Engagement: Interface with representatives of other agencies/organizations on issues related to operations.
- Consultant Coordination: Coordinate and be the voice for all sub-consultants working as part of the Consultant’s team for the pursuits.
- Communications Oversight: Oversee the development of internal and external communications.
- Performance Reporting: Prepare weekly, monthly, and biannual performance measure dashboards and reports in compliance with corporate requirements.
5. Business Development Director Accountabilities
- Partner Management: Research, identify, evaluate, and onboard partners to meet current and future demand needs.
- Commercial Analysis: Perform commercial modeling to determine the impact (revenue growth) and prioritization of innovation and growth opportunities.
- Contract Negotiation: Support the negotiation of partnership contracts, including commercial models and co-marketing opportunities.
- Marketing Collaboration: Work with marketing to design and produce materials to educate customers on key partners and go-to-market stories.
- Leadership Collaboration: Develop strong ways of working with other leaders in the business to achieve broader business goals.
- Marketing Strategy: Drive adoption and share of marketing budget for products and services.
- Performance Analysis: Measure performance, articulate root-cause analysis, and link to specific improvement areas.
- Product Strategy: Inform the product roadmap by collecting insights from the industry and partners.
- Sales and Lead Generation: Generate new leads and act as a focal point in presenting, selling, and delivering Flex’s solutions which include concept development, design and engineering, industrial design, manufacturing, supply chain/logistics, services support, and reverse logistics.
- Strategic Alignment: Understand the strategic fit between customers’ needs and Flex capabilities, in alignment with Flex’s business growth strategy.
- Customer Relationship Management: Account planning, proactive proposals, relationships development, quoting intelligence and proposals development, customer meetings.
- Deal Negotiation: Negotiate deals and service agreements.