business strategy

Business Strategy

The principles guiding how a business uses its resources to achieve its goals. A strategy states a business's focus and indicates the basic steps the business will use to achieve it. The ultimate aim of any strategy is to make money, but each company takes a different (sometimes very different) approach to achieve this goal. Business strategies are widely studied and discussed in management consulting.

business strategy

the formulation of long-term plans and policies by a firm which interlock its various production and marketing activities in order to achieve its business objectives. See FIRM OBJECTIVES, COMPETITIVE STRATEGY, HORIZONTAL INTEGRATION, VERTICAL INTEGRATION, DIVERSIFICATION.
References in periodicals archive ?
a premier Business Strategy Solutions consulting firm, launched www.
Business strategy and corporate governance in the Chinese consumer electronics sector.
While everyone can easily envision all of the manufacturing tactics surrounding the process of producing castings, manufacturing's link to business strategy is still a mystery to many.
In addition to traditional tools and methods, they need a broader, more sophisticated understanding of business strategy to make a positive impact on business performance through communication initiatives.
Moreover, CEOs must adroitly and clearly communicate what those numbers mean in the context of the company's overall business strategy.
He says, "Our mindset must be that this is not so much an e-business strategy, but a business strategy.
A compensation system that furthers this business strategy rewards efficiency and cost-management behaviors.
This brings us to the concept of sustainable business strategy.
Jay Stright joins Jeitosa as Senior Vice President of Business Strategy and Chief Knowledge Officer responsible for defining the group's service portfolio and disseminating knowledge and information across the organization and its clients.
How does a CEO begin to understand and grapple with issues of business strategy and marketing?
We are delighted that several of the leading investors in life sciences today have recognized the promise of YauponeIUs innovative business strategy and therapeutic approach," he added.
Yet their approaches, and the common elements that bind them together, are not adequately explained in existing literature on business strategy.

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