What is the Purpose of Hiring a Business Development Manager?
A Business Development Associate observes and creates long-term growth opportunities for companies. They analyse current marketing goals and business practices to provide valuable suggestions. Business Development Executives reach out to relevant companies and clients to foster beneficial business relationships with them. They always strive to maintain good connections with clients and grow the company.
A Business Development Executive’s Job Description
Business Development Executives have a significant impact on the growth and development of businesses. Here are some of their duties and responsibilities:
- Identifying and researching new sales opportunities
- Creating a network of new and existing clients
- Representing the company at industry events and conferences
- Creating reports on weekly and monthly sales targets and KPIs
- Learning about new products and sales trends
Business Development Manager Skills
After completing a business development course, there are certain skills that a Business Development Associate needs such as:
- A strong understanding of customer relationship management
- Time Management skills and planning abilities
- In-depth knowledge of company products and services
- Ability to meet targets
- Communication skills and a charming personality
- Creativity and a sense of curiosity
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Benefits of Pursuing an MBA
An MBA in IT Management or an MBA in Marketing is beneficial on resumes for Business Development Executives. An MBA IT course provides valuable knowledge about new technologies and methods to implement digital business marketing strategies. Students are taught key skills in finance, accounting, strategy, and problem-solving. An MBA degree in India can provide a Business Development Manager with a holistic viewpoint when working with new companies and firms.
Admission Process
This is the step-by-step admission process for MBA in Marketing and MBA IT courses:
- The MBA admission process starts in July/August for two months
- Students need to secure a minimum score of 50% in 10+2 and graduation
- Candidates need to clear the CAT/MAT/XAT/NMAT entrance exam
- Shortlisted candidates are called for a group discussion and personal interview with the respective university
MBA Degree Online Admission Process
Students can opt for an MBA IT distance learning course. This mode of studying is convenient for students who want to work or take up an internship. The admission steps for MBA in IT Distance Learning are given below:
- Students need to secure a minimum score of 50% in 10+2 and graduation
- Candidates need to clear the CAT/MAT/XAT/NMAT entrance exam
- Many distance education universities prefer candidates with work experience
Business Development Associate Courses
An MBA qualification is an essential step to becoming a Business Development Executive. Some of the MBA specialisations are given below:
1. MBA in Marketing
The duration of an MBA in Marketing is two years. Students are taught about marketing strategies, branding, advertising, accounting, and business management. The eligibility criteria for admission is a minimum score of 50% in 10+2 and graduation, along with passing scores in the CAT/MAT/XAT/NMAT entrance exams.
2. MBA in IT
Students can choose MBA IT distance education courses or offline programmes. MBA IT’s full form is Master of Business Administration in Information Technology. This two-year programme helps students develop a better understanding of e-commerce, business security, technology, and management skills. MBA IT courses require a minimum score of 50% in 10+2 and graduation. Candidates need to qualify for the CAT/MAT/XAT/NMAT entrance exams.
Entrance Exams
These are the entrance test cut-off scores for MBA IT courses and marketing programmes:
Business Development Manager Specialisations
A Business Development Associate can work in different roles based on their ability and qualifications. Some of the specialisations are:
1. Business Development Executive
The executive is in charge of developing the business by discovering new clients and closing deals. The Business Development Executive needs to be prompt and have a strong understanding of the administrative functioning of the business.
2. Sales Manager
This Business Development Manager works on outreach, analysing project leads, and recruiting new talent. They play an important role in supervising day-to-day sales operations and managing company sales agents.
3. Business Development Director
This is a leadership role focused on strategic decision-making. Business Development Managers track the success of company goals, manage teams, analyse sales targets, and negotiate business decisions.
Business Development Manager Course Fees
This is the fee structure for MBA courses in Marketing and IT across top universities:
Business Development Executive Scholarships
There are many scholarships available for deserving MBA candidates. Some of the scholarships are mentioned below:
1. IDFC FIRST Bank MBA Scholarship Programme
This scholarship is awarded to deserving MBA candidates studying in B-schools. The scholarship amount is ₹2,00,000 lakh. The eligibility criteria are:
- Family income less than ₹6,00,000 lakh per annum
- The applicant should not be more than 35 years of age
- The candidate’s mobile number must be linked to their Aadhar card
- They should be a student of an MBA college mentioned on the list
2. NMAT Scholarship
Alliance School of Business and IILM University provide scholarships to students based on their NMAT scores. Alliance School of Business offers up to 50% tuition fee waivers and IILM University offers waivers of up to 40%.
Loans
MBA IT and Marketing courses are expensive across institutions. Students who aren’t eligible for scholarships or concessions can apply for educational loans. Propelld provides fast and customised student-friendly loan options.
