Business Strategy

Business development is the process by which organizations pursue opportunities to create greater value. Just like people, organizations must grow and change over time to thrive, and successful ones engage in development planning guided by strategic thinking and the pursuit of long-term goals. However, while business development is important to the ongoing viability of any organization, the specifics of a given growth strategy may involve entirely different processes from case to case.

For example, a multinational corporation’s business development strategy may include an analysis of their competitive position in the market, a capabilities analysis to determine areas of strength and weakness, and then a consideration of opportunities to divest from businesses that are no longer likely to be profitable. Alternatively, a company may identify new market opportunities and seek to diversify by establishing a new business unit or through mergers and acquisitions (M&A).

In contrast, for non-profit organizations, business development typically has quite a different meaning. In this context, development is usually focused on fundraising through a variety of means, including social media campaigns, grant programs, special events, one-on-one donor cultivation, and other activities.

Regardless of the types of activities pursued, business development is a core element of the lifecycle of any long-running enterprise.‎

Yes. Many business development courses offer a free audit option, which allows learners to access video lessons and reading materials at no cost. To complete assignments or earn a certificate, you’ll need to upgrade or apply for financial aid.‎

Coursera's Business Management courses equip learners with key managerial skills:

• Fundamentals of strategic management and business planning
• Techniques for effective leadership and team management
• Financial literacy for budgeting, forecasting, and financial analysis
• Operations management for improving organizational efficiency
• Principles of marketing management and consumer engagement
• Project management skills to oversee projects from initiation to completion‎