The speed of change in virtually all industries has increased exponentially over the past decades – and conventional Stato IT Pvt Ltd proves that the trend will continue. In this fast-paced global business environment, the ability to possess fact based strategic foresight, deliver systematic exploration of new growth opportunities and to institutionalize a continuous drive to improve internal business practices is more important than ever.
Many companies have responded to the new clock speed challenge, and we have witnessed the emergence of a new corporate support function labeled “business development”. Business development has become a way for top management to dedicate a permanent team of capable professionals to explore new growth and diversification opportunities and deliver accelerated development of their existing business. A recent sample of the top-200 companies in Scandinavia shows that more than 65% of these companies have invested or plan to invest in building in house business development capabilities
Our interest in the field of business development stems from our work as counselors on overall business performance to some of the most successful companies in Scandinavia. They all struggle with finding the formula for strengthening their strategic agility and internalize the strategy management and execution processes to accelerate the speed by which the company generates returns to its shareholders.