Why Bother About New Business Development?

Why should you bother about new business development? Are new business development, generating new revenue streams, innovation, new service development not just commonly used buzz words?  What does this all mean in the context of professional services anyway? 

Generating New Revenue Streams

I have yet to run into a company that doesn’t have plenty of ideas. However, translating these ideas into valuable revenue generating business opportunities is quite a different story.