In the limited scholarly work available on the subject, business development is conceptualized as or related to discrete projects, specific modes of growth, and organizational units, activities, and practices. Sørensen integrates these different perspectives with insights from CMDs, senior business developers and venture capitalists from successful high-tech firms from Europe, North America and India into one general construct. In this perspective, business development refers to:
"the tasks and processes concerning analytical preparation of potential growth opportunities, the support and monitoring of the implementation of growth opportunities, but does not include decisions on strategy and implementation of growth opportunities" (Sørensen, 2012, p. 26).
These tasks and processes are performed by business developers. Given the nature of business development activities, the business development function is typically organized as a staff function.