business strategy

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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.
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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.
Collins Dictionary of Economics, 4th ed. © C. Pass, B. Lowes, L. Davies 2005
References in periodicals archive ?
Acquisition targets must fit the business strategies of the acquiring company; otherwise, the acquisition is likely to fail.
Majority of companies in Indonesia are family controlled companies which are owned by families who are having full control on all the companies' business strategies. In family ownerships agency problems still occur.
3.1 A Comparison of Business Strategies for Targeting HNWIs and UHNWIs in Latin America
The preliminary framework (See Figure 1) recognizes that external forces of change drive corporate-level business strategies while supply missions are shaped by business strategies.
This paper aims to fill this important void by studying the economic performance associated with these two different business strategies using Canadian micro data.
Business Strategy enables us to seize the opportunity and execute our business strategies successfully.
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Baharauin Petroleum Company (Bapco) said its public relations department organised a workshop on business strategies for its employees.
It analyzes how these firms have developed their business strategies and corporate governance and the interrelationship between the two at this point in the economic reform process.
CIOs will need new roles to turn social business strategies into reality--including technical resources to develop a sound architectural roadmap for social technologies and more business-savvy folks to connect the dots between business strategy and social technology innovation.

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