Executives and managers who work in business development are responsible for helping the company or organization grow. Through analysis, strategic planning, and managed implementation, business development officers work with both internal and external shareholders. They strive to achieve business goals, such as increased profitability or additions to the number of services provided. Discover an exciting career as a business development officer with a degree from the School of Business at Fairfax University of America, based in Virginia near Washington, D.C.
Business development officers find new and better business opportunities for their corporation or nonprofit organization. Background and general knowledge in functional areas, such as marketing, consumer analysis, funding, and sales are helpful. But these dynamic leaders also bring solid, practical knowledge and experience gained in a specific line of business or related field. They are skilled in a variety of areas, including:
Organizations usually are looking for business development officers with experience that aligns with their model or niche. Aspiring business development officers should explore the kinds of organizations in which they want to work, as well as the job functions for which they show the most talent, as they chart their career path from business administration degree to executive manager.
To determine the best way forward for a business or organization, business development officers use their experience and creativity. They bring skills in data analysis, so they can determine whether existing customers are satisfied with current practices, and how to grow that customer base. With their facility in developing marketing and sales strategies, these executives analyze market research and have a firm hand on any customer relationship management (CRM) software employed by the organization. Depending on the type and size of the company, business development officers also may be involved with the development of new products and internal customer service training. Alternatively, they may work with shareholders, boards, and management teams, as well as in public relations, to achieve set financial goals.
By first earning a business administration degree, you will be prepared to pursue a career in business development. According to the U.S. Bureau of Labor Statistics (BLS), a bachelor’s degree is required for most management positions that work with advertising, promotions, and marketing. These usually are the engines for financial growth and development in business enterprises. The median annual wage for marketing managers in May 2021 was $135,030. Entry-level positions in systems and management analysis also require a bachelor’s degree. The BLS median annual wage for management analysts in May 2021 was $93,000.
There are related positions on the business development career path that also require a master’s degree. As work experience and knowledge are acquired, managers may advance to careers as top executives. These business leaders work on planning strategies and policies for the organization. They determine goals, shape management teams, and are responsible for efficient operations and growth. The BLS median annual wage for chief executives in May 2021 was $179,520, and the median annual wage for general and operations managers was $97,970.
Fairfax University of America offers several business administration degree programs and a graduate certificate that all serve as excellent preparation for a career in business development:
These degree programs include internships and capstone programs that help students network in a variety of fields while they gain valuable work experience. In this way, they can determine which industries are most appealing, and where their passion for business can be best employed.
Business education programs at Fairfax University of America offer outstanding instruction and affordability. Our English Language for Academic Communication (ESL) program provides multi-level instruction with the goal of success at the college level for multi-lingual students. We welcome students from all cultural and academic backgrounds at our campus in Virginia. Request information about Fairfax University of America, or complete an online application today.