Business Develeopment at Hochschule Hannover | Flashcards & Summaries

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Lernmaterialien für Business Develeopment an der Hochschule Hannover

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TESTE DEIN WISSEN

Different types of creating long-term value.

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TESTE DEIN WISSEN

Economic --> Increasing profit

Brand --> Changing perception

Product --> Increasing utility

Audience --> Increasing exposure

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TESTE DEIN WISSEN

What are the sources where the  long term value can be created of?

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TESTE DEIN WISSEN

Customers, markets and relationships.

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TESTE DEIN WISSEN

The distinction according to Sorensen.

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TESTE DEIN WISSEN

According to Sorensen, any new activity could be distinguished as business as usual or not. It the business is usual, then it is "Business as usual". If not, then it is Business Development.


Any new activity could defined as i.e. 

  • new product/service development
  • Introducing existing products/services in new markets
  • embarking in strategic alliances.

Those include various phases like 

  • Planning
  • Business process improvement
  • Competition and market positioning
  • Scouting
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TESTE DEIN WISSEN

Explanation of Ansoff's Product-Growth Matrix (Business Development activities).

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TESTE DEIN WISSEN

1. Market penetration: Here we have the same products and same market (a bigger slice of the pizza).

2. Product expansion: Here we have new products, same markets (More pies in the same shop).

3. Market expansion: Same products, new markets (Same pies in different shops).

4. Diversification (new products, new markets).

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Product Life Cycle.

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TESTE DEIN WISSEN

1. Introduction

2. Growth

3. Maturity or Stabilazation 

4. Decline

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TESTE DEIN WISSEN

What are one of the key activities in Business Development?

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TESTE DEIN WISSEN

Creating and managing the product/service portfolio of the company. 

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TESTE DEIN WISSEN

Dimensions of objectives?

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TESTE DEIN WISSEN

Time frame: Intermediate - Longer to short term

Scope: Economic - Non Profit

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TESTE DEIN WISSEN

What is strategy? Why should the strategy be also good in reverse?

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TESTE DEIN WISSEN

It is the means by which individuals or organizations achieve their objectives.

It represents the set of activities the company does and does not do.


A strategy should be good in the oppostite way or reverse. In this way, it still represents a valid strategy. If not, then it is not valid.

When developing a strategy one should first of all have clear objectives, then develop a strategy and follow up with a good execution (operations): what-->how-->why.

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TESTE DEIN WISSEN

What are the main questions a business should answer in order to be adequate for the market?

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TESTE DEIN WISSEN
  • Competitive landscape: A business should know where to compete.
  • Value proposition: A business should bring unique value to the market.
  • Firm's competences: A business should know what resources and capabilities to use.
  • Competitive advantage: A business should sustain the unique value.
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TESTE DEIN WISSEN

Evaluating a business. What do we have to evaluate?

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TESTE DEIN WISSEN

The firm strategy, Portfolio and Organization.

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TESTE DEIN WISSEN

Evaluating a business: Firm strategy.

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TESTE DEIN WISSEN

There are 4 main directions a strategy can take. 

- Cost leadership (global, efficiency)

- Differentiation (Global, value)

- Focused Differentiation (Value, Local)

- Focused Cost Leadership (Efficiency, Local).


Furthermore, the firm strategy contains the general approach and location of activities.

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TESTE DEIN WISSEN

What is Business Development?

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TESTE DEIN WISSEN

BD is creating long term value for an organization from customers, markets and relationships (Pollack).

BD is any activity that alters the status quo of the firm (Sorensen).

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Q:

Different types of creating long-term value.

A:

Economic --> Increasing profit

Brand --> Changing perception

Product --> Increasing utility

Audience --> Increasing exposure

Q:

What are the sources where the  long term value can be created of?

A:

Customers, markets and relationships.

Q:

The distinction according to Sorensen.

A:

According to Sorensen, any new activity could be distinguished as business as usual or not. It the business is usual, then it is "Business as usual". If not, then it is Business Development.


Any new activity could defined as i.e. 

  • new product/service development
  • Introducing existing products/services in new markets
  • embarking in strategic alliances.

Those include various phases like 

  • Planning
  • Business process improvement
  • Competition and market positioning
  • Scouting
Q:

Explanation of Ansoff's Product-Growth Matrix (Business Development activities).

A:

1. Market penetration: Here we have the same products and same market (a bigger slice of the pizza).

2. Product expansion: Here we have new products, same markets (More pies in the same shop).

3. Market expansion: Same products, new markets (Same pies in different shops).

4. Diversification (new products, new markets).

Q:

Product Life Cycle.

A:

1. Introduction

2. Growth

3. Maturity or Stabilazation 

4. Decline

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Q:

What are one of the key activities in Business Development?

A:

Creating and managing the product/service portfolio of the company. 

Q:

Dimensions of objectives?

A:

Time frame: Intermediate - Longer to short term

Scope: Economic - Non Profit

Q:

What is strategy? Why should the strategy be also good in reverse?

A:

It is the means by which individuals or organizations achieve their objectives.

It represents the set of activities the company does and does not do.


A strategy should be good in the oppostite way or reverse. In this way, it still represents a valid strategy. If not, then it is not valid.

When developing a strategy one should first of all have clear objectives, then develop a strategy and follow up with a good execution (operations): what-->how-->why.

Q:

What are the main questions a business should answer in order to be adequate for the market?

A:
  • Competitive landscape: A business should know where to compete.
  • Value proposition: A business should bring unique value to the market.
  • Firm's competences: A business should know what resources and capabilities to use.
  • Competitive advantage: A business should sustain the unique value.
Q:

Evaluating a business. What do we have to evaluate?

A:

The firm strategy, Portfolio and Organization.

Q:

Evaluating a business: Firm strategy.

A:

There are 4 main directions a strategy can take. 

- Cost leadership (global, efficiency)

- Differentiation (Global, value)

- Focused Differentiation (Value, Local)

- Focused Cost Leadership (Efficiency, Local).


Furthermore, the firm strategy contains the general approach and location of activities.

Q:

What is Business Development?

A:

BD is creating long term value for an organization from customers, markets and relationships (Pollack).

BD is any activity that alters the status quo of the firm (Sorensen).

Business Develeopment

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