For example, many typewriter manufacturers during the 1980s and 1990s slowly phased out their core business and began to focus more on computer parts and accessories as a way to continue operations. Particularly in larger companies, corporate development is provided as a charter for a particular executive or team. In these cases, the opportunities and initiatives are numerous enough to justify specialists, instead of being delegated to the office of the CEO and line of business executives. When focused on product or financial issues, corporate development executives often have MBA, CFA or CPA credentials. Advanced technical degrees (Ph.D., M.S.) are highly sought in corporate development executives so that they can understand and align strategic, technical, and tactical goals with financial targets. Teams contract and often hire a corporate development contributor from a legal or investment banking background due to the complex contractual and valuation issues associated with many transactions.