The core duties for a Business Development Specialist are to identify, evaluate and design plans that help an organization grow as well as develop new products, services and lines of businesses to increase and sustain that growth. Growing, building and increasing the capabilities of an organization is integral to a successful business strategy, and the business development specialist tracks and monitors the revenue stream for individual products and services and identifies strategies and tactics for growth, including marketing and sales approaches. The business development specialist also identifies potential new lines of business based on market trends and competitor analysis, and develops the business case to support moving into a new product, service or line of business. On a broader scale, the business development specialist also may be involved in merger, acquisition and affiliation or joint venture strategies of the business.