Business development entails tasks and processes to develop and implement growth opportunities within and between organizations. It is a subset of the fields of business, commerce and organisational theory. Business development is the creation of long-term value for an organization from customers, markets, and relationships. Business development can be taken to mean any activity by either a small or large organization, non-profit or for-profit enterprise which serves the purpose of 'developing' the business in some way.
Munich, Bavaria’s capital, is home to centuries-old buildings and numerous museums. The city is known for its annual Oktoberfest celebration and its beer halls, including the famed Hofbräuhaus, founded in 1589. In the Altstadt (Old Town), central Marienplatz square contains landmarks such as Neo-Gothic Neues Rathaus (town hall), with a popular glockenspiel show that chimes and reenacts stories from the 16th century.