Influencing Factors of a Successful Corporate Development

This article highlights the internal and external factors influencing successful business performance. Digitization, changing customer needs, market developments, and competitors are some external factors while shareholders' requirements and labor market challenges are internal ones. The focus of this article is on the task of corporate development in extrapolating the best possible strategy for a successful future of the company. Corporate development involves analyzing customer needs and aligning the products/services with their needs. This article emphasizes the importance of customer centricity as a competitive advantage. The involvement of customers and department colleagues can help in improving the product or service. The article suggests developing a corporate culture that fosters communication, transparency, and participation. Human Resource is another important point affecting successful corporate development. The focus should be on building cross-functional knowledge and commitment in the area of ​​talent and team structure. The article also talks about the crucial balance between agile management and a fault-tolerant culture and management style. Standardization and economies of scale are other important factors in corporate development. Corporate development should provide value to the company and not just additional costs and overheads. The role and mission of corporate development must be clearly defined.