Business development and business operations professionals are two critical positions that play a key role in a business's success. Although these two roles sound similar, they deal with different aspects of a business and work to achieve different goals. If you are considering a role in either of these areas, keep reading to learn the differences between business operations and development.
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Business development involves planning for the future growth of a business or company and creating strategic plans to drive business expansion. Business development teams identify ways to expand their company's reach by identifying business opportunities, diversifying revenue streams, and creating growth plans, such as new market entry, relationship building, and strategic partnership formation.
Business development is all about growth and planning, and careers in it culminate many years of diverse business experience. Many business development professionals start in project management or in various positions that drive business development efforts, such as supply chain management, market research, or resource planning.
Progressing to a business development manager role will require diverse experience, business acumen, and education. Many professionals working in business development will have an MBA (Master of Business Administration) and proven experience developing strategies that drive business growth. Business development managers will also be required to have strong management skills and proven experience managing teams.
Business operations differ from business development because they are primarily concerned with optimizing processes and overseeing a business's day-to-day tasks. Business operations managers and teams coordinate tasks between internal teams and departments to effectively achieve business goals. They also develop strategies to streamline internal business processes and optimize workflows to improve organizational performance.
Business operations managers work directly with internal teams, such as people in other high-level human resources roles or department operations managers. Although they do not interact with external stakeholders or potential clients, business operations professionals are critical to a business's success. They ensure that internal processes are optimized for maximum productivity and efficiency.
The career path for a business operations manager also involves many years of business experience, especially in management positions. Those who enjoy working in teams, collaborating with others, and managing people would enjoy working as a business operations manager.
Business development and business operations roles require a unique skill set to succeed. Take a look at the most critical skills required to succeed as either a business development manager or business operations manager:
Business Development Skills
Business Operations Skills
Both business development and business operations roles require a wide range of multidisciplinary skills. Still, business development roles require more in-depth knowledge of manufacturing, sales, and industry business processes. Business operations also require business knowledge, but more in terms of internal processes, as the goal of the business development team is to improve internal efficiency. Both ultimately drive growth and are key to a business's success.
Both business development and business operations are lucrative careers with strong salaries and career paths. We've compared the salaries and career paths of these two positions so you can better understand which one best suits your goals.
Whether you are just starting in business development or are an experienced business development manager, the salary is quite generous:
If you are interested in becoming a business development manager, this is a standard career path:
Careers in business operations are also well-paid, even if you are just starting out. Some approximated salaries for business operations roles are:
Just like a business development manager, you will need to show you have the relevant knowledge and skills, including:
A career in business development or business operations is challenging, interesting, and fulfilling. If both business development and business operations sound interesting to you, you can consider the following to help you narrow down which would suit you more:
A SWOT analysis is a framework you can use to help make decisions. Typically used by businesses, SWOT stands for Strengths, Weaknesses, Opportunities, and Threats. You can reflect on each of the following to allow you to evaluate better if business development or business operations would be right for you, for example:
Salary is an important factor to consider when choosing a career, and luckily, both business development and operations have comparable pay ranges. If you choose between the two, one question you can ask is, "Which job would I be more satisfied in if I were only earning an entry-level salary?"
Both business development and business operations manager roles apply to any industry; however, some industries will be harder to fill. Industries like technology and software are often hiring for business operations and development roles and are more likely to employ entry-level roles as well. Startups or new businesses will also likely be hiring for business operations and development roles but will often require more experienced professionals.
Overall, business development and business operations professionals help businesses succeed through process optimization. The key difference is that business development is related to the company's growth through improving market reach and sales through expansion to new markets, cost reduction, and improving alliances between external collaborators and stakeholders.
Business operations involve optimizing an organization's strategy or processes and maximizing the operational efficiency of teams. Business operations management involves evaluating and adjusting workflows and processes so that teams effectively achieve internal business goals.
Business operations and development careers are fulfilling, engaging, and complex and allow you to work across any industry. If you are considering a career in either, reflect on the requirements of each role and align it with your strengths and goals. If you want to learn more about careers in business development or operations and get free career advice, check out Cake for more!
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— Originally written by Bronte McNamara —
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