Business Development Associate Interview Preparation Guide
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Business Development Associate related Frequently Asked Questions in various Business Development Associate job interviews by interviewer. The set of questions here ensures that you offer a perfect answer posed to you. So get preparation for your new job hunting

44 Business Development Associate Questions and Answers:

1 :: WHAT HAVE YOU DONE TO IMPROVE YOUR KNOWLEDGE FOR BUSINESS PROCESS ASSOCIATE POSITION IN THE LAST YEAR?

► Try to include improvement activities that relate to the job. A wide variety of activities can be mentioned as positive self-improvement. Have some good ones handy to mention.

► Employers look for applicants who are goal-oriented. Show a desire for continuous learning by listing hobbies non-work related. Regardless of what hobbies you choose to showcase, remember that the goal is to prove self-sufficiency, time management, and motivation.

► Every should learn from his mistake. I always try to consult my mistakes with my kith and kin especially with elderly and experienced person.

► I enrolled myself into a course useful for the next version of our current project. I attended seminars on personal development and managerial skills improvement.
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2 :: Can you tell us about your background and how you got into corporate development?

Sure. I was from a non-target university and worked at a middle-market investment bank after graduation, focusing on Internet companies there.

I was promoted to stay on for a 3rd year, but around that time I was also getting interested in moving on - I stuck around mostly because the economy was in a nosedive and we were just entering a recession at the time.

A few months after that, a company we had worked with before came to my MD and said they were looking for a corporate development Associate, so the MD referred me, I went through the recruiting process there, and had an offer a few weeks later.

I didn't want to follow the typical PE or HF path, and at this startup I would have a chance to work directly with the CEO and other senior executives and get a much better work-life balance, so I decided to take the offer.
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3 :: What's the recruiting process like for corporate development?

As I mentioned, my MD recommended me to the VP of Corporate Development at my company and so I got interviews right away without having to go through a resume screen.
Here's what I went through:
► After my MD recommended me, the VP of Corporate Development called me to chat and find out more about my background.
► I did 3 phone interviews before I flew in to meet with the company.
► On the interview day itself, I met with 10 people across all divisions at the company, from managers and VPs all the way up to the CEO himself.
► Right after meeting in-person, I heard back fairly quickly and accepted the offer.
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4 :: Give an example of a time when you had to sell an unpopular idea to someone?

If you have an example from work experience this is ideal, however, do not be concerned if you do not. You could give an example from your private life, such as persuading a friend or family member to get involved with something they were not really interested in. Good sales skills are transferable to life.
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5 :: WHAT EXPERIENCE DO YOU HAVE IN THIS FIELD OR FOR BUSINESS PROCESS ASSOCIATE POSITION?

I have been working with computers since 2001. I also have a degree in network support/computer repair. I have built my last 3 computers, have work with Dell as an employee. So I have around 15 years experience working with computers.
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6 :: Tell me Why do you think you're good at sales?

If you have a proven track record in sales, say so and give some examples. Mention how you are a good listener, good at interpreting a person's motive and intention and that you feel confident in closing deals.
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7 :: WHAT IS YOUR GREATEST WEAKNESS FOR POSITION: BUSINESS PROCESS ASSOCIATE?

Turning your strong point into weak point.
For example: I am a perfectionist and therefore, I rarely believe in anyone who can work as well as me. As a result, I am afraid to delegate important tasks to others. This approach has a weak side as that if you are not clever, you will cause the employer to believe that you are cheating him.

Solving your weakness absolutely.
A better approach is that you state one point which was once your weakness, but you have done well to resolve it.
For example: I tended to be a perfectionist, therefore I didn't like to delegate to others. But I have found out that in order to develop the organization, everyone in the organization must be experienced with many tasks and this is very good for an efficient team work.

► You need to show it through your attitude and voice: It is really your weakness. And, you may also state some situations how much that weakness has caused you difficulties.
► Give your solution to resolve that weakness, partly or wholly.
► Solutions to a weakness may be training, mentoring, etc

Tips:
☛ This is a common question in any interview, so don't try to avoid answering it.
☛ Never mentioning a weakness that relates to a crucial requirement of the job.
☛ Don't try to make up a weakness.
☛ Don't say you have no weakness. No one is perfect, therefore, you shouldn't say you have no weakness.
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8 :: Tell me how do you go about selling unpopular ideas to people?

Say that you focus on the positive aspects of the idea and explain why it will eventually benefit everybody. Ideas may be unpopular but their outcomes are often welcomed once people understand better what is being proposed.
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9 :: Right, sounds like a good move - you were actually employed throughout an entire recession, which didn't happen to too many other bankers.

You mentioned "corporate development" just now - terms like "business development," "corporate strategy," "corporate development," and "corporate finance" are lumped in the same category, but how are they different? What do you focus on?

It depends on the company, but here's how I think about the differences:

► Corporate Development: You focus on M&A and acquiring other companies as well as setting up joint venture deals.

► Business Development: It's less about M&A and acquiring companies / stakes of companies and more about setting up partnerships.

► Corporate Strategy: This is like management consulting, only internal to the company. You focus on planning their big-picture strategy, solving specific operational problems, and competitive analysis.

► Corporate Finance: This is more like FP&A (Financial Planning & Analysis) - you maintain the company's finances, plan their budget, and make sure all the right controls are in place.

► Of those, corporate development is most similar to banking/PE, and corporate strategy is most similar to consulting; corporate finance is closer to accounting or auditing work and you don't need to understand deals to do it.

My job is a combination of corporate development, business development, and corporate strategy - since it's a startup you have to do a bit of everything.
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10 :: Phone Based Business Development Associate interview questions:

► What do you think is your market value?
► How do you determine your priorities under tight time constraints?
► What types of people annoy you the most?
► What sort of things do you like to delegate?
► Have you ever postponed a decision? Why?
► How many raises were given at your last position? Why were you given them?
► Give me a question that you've never heard a recruiter ask you and you want to hear.
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