Corporate development is the process of identifying and utilizing opportunities for business with the aim of increasing sales. It could involve anything from acquiring competitors to working with other companies in joint ventures. This kind of function is usually out of the routines of traditional departments like accounting/finance or logistics/supply chain as well as human resources control.

Corporate development departments must have excellent interpersonal and business model skills. They must be able quickly and effectively evaluate a potential deal or project and make informed decisions. The corporate development team must be able to communicate effectively with other departments within the organization and work with other departments.

The aim of corporate growth is usually to grow the company by acquiring and merging (M&A). The M&A process can be complex and requires a lot of analysis and research. The corporate development team must be able determine the right companies for each M&A possibility and decide if the potential transaction is a good match.

There are many ways to build a corporate development group starting from a single centralized unit to a decentralized model where the business chooses the appropriate members to meet the needs of each situation. It is common that the team is comprised of both finance and business professionals. A mix of skills and experiences is crucial since it allows for efficient sourcing of deals that align with the company’s growth objectives.

Corporate development executives who have a strong business or financial background are more likely to be successful. They must be able comprehend and align technical, strategic, and financial goals with product goals. This can be a challenge for those who have a marketing background but is a crucial skill when it comes M&As.

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