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Business development entails tasks and processes to develop and implement growth opportunities within and between organizations. [1] It is a subset of the fields of business, commerce and organizational theory. Business development is the creation of long-term value for an organization from customers, markets, and relationships. [2]
Examples include the various stages in an organization's life cycle, phases of growth experienced by an organization during expansion and implications for these phases of growth. [16] Review of the main organizational life cycle theories, with stages, main idea and authors is given in the table below.
A phase-gate process (also referred to as a waterfall process) is a project management technique in which an initiative or project (e.g., new product development, software development, process improvement, business change) is divided into distinct stages or phases, separated by decision points (known as gates).
The EPLC conceptual diagram in the figure provides a Departmental perspective of key business functions. The EPLC is also relevant from an individual investment or project perspective, as each new investment passes through each phase of the EPLC. The investment-level perspective is detailed in the Enterprise Performance Life Cycle Framework. [7]
Research and development (R&D or R+D) [1] is the set of innovative activities undertaken by corporations or governments in developing new services or products. [ 2 ] [ 3 ] [ 4 ] R&D constitutes the first stage of development of a potential new service or the production process.
Economic development research has currently identified five phases, or "waves" of economic development practice.The differences between these waves are shaped by historical factors, the economic climate during historical periods, and leaders' response to these forces, which over time have created five strategies that differ from their predecessors.
The forming–storming–norming–performing model of group development was first proposed by Bruce Tuckman in 1965, [1] who said that these phases are all necessary and inevitable in order for a team to grow, face up to challenges, tackle problems, find solutions, plan work, and deliver results. Tuckman suggested that these inevitable phases ...
Stages-of-growth model is a theoretical model for the growth of information technology (IT) in a business or similar organization. It was developed by Richard L. Nolan during the early 1970s, and with the final version of the model published by him in the Harvard Business Review in 1979. [1]
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