Business development potentially includes everything involved with the quality of the business or the organization. Business development planning first requires establishing the business development aims followed by formulating a business development strategy that results in a business development approach. This approach can or need to be applied to several subsets as per example:
New product and or market development
Business organization, shape, structure and processes development (eg, outsourcing, e-business, etc)
Tools, equipment, plant, logistics and supply-chain development
People, management and communications (capabilities and training) development
Strategic partnerships and distribution routes development
Acquisitions disposals or mergers
Generally business development is partly scientific, and partly subjective, based on the feelings and wishes of the business owners, stakeholders or CEO. There are many ways to develop a business which achieve growth and improvement. Rarely only one of these are a single best solution. Business development is however not a 'black art', ie., difficult to analyse, and difficult to apply a replicable process. By using a set of methodologies that includes the Business Model Canvas of Alexander Osterwalder, specific focus can be applied for parts of the business. By using this methodology, the waiste of effort can be minimalized.