Development is a multifaceted process that incorporates economic growth, social progress and environmental protection. It requires a variety of skills and expertise: architects, landscape architects and civil engineers for project design; market analysts to understand demand and a development’s economics; lawyers to handle agreements and government approvals; soils engineers and environmental consultants to analyze a site’s physical limitations and potential environmental impacts; surveyors to provide legal descriptions of property; and general contractors who will put the architectural plans into action. A developer may also purchase unused land and obtain the necessary permits to build on it, which is known as speculative development.
The UN defines development as a process by which nations move “towards higher levels of income, wealth, and standard of living.” It involves both economic and social development, with a focus on human beings’ multidimensional well-being. Development includes a number of objectives, from reducing poverty to protecting the environment, and it must be sustainable. The concept of development can be difficult to measure, especially when comparing countries. The most common method is examining gross domestic product (or GDP) per capita, which takes into account both the level of economic activity and the amount of money that people are making.
It’s important to identify an employee’s career goals and develop a plan that will help them reach those goals. Investing in employee development will save your company the cost of hiring outsiders, while improving performance metrics like quota attainment and revenue win rates.