Description

Corporate development refers to theplanningand execution of a wide range of strategies to meetspecificorganizational objectives. The kinds of activities fallingundercorporate development may include initiatives such asrecruitmentof a new management team, plans for phasing in or out ofcertainmarkets or products, considering a partner for astrategicalliance, establishing relationships with strategicbusinesspartners, identifying and acquiring companies, securingfinancing,divesting of assets or divisions, increasing intellectualpropertyassets and so on. There is no formula for "corporatedevelopment"and the activities encompassed are often the role ofthe CEO orother executives or experienced business consultants.

One of the manifestations of corporate development has to dowithreshaping the management arm of the corporation. This mayinvolve aprocess of phasing certain management positions out ofthe existingstructure or creating new positions in an effort tostrengthen themanagement team. As part of this type of approach,corporatedevelopment may also demand that one or more currentmanagers arereleased from the company and replaced with people whopossessskills required to move the company forward. When this isthe case,the corporate development team will handle the functionsofrecruitment and evaluation of potential hires.