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.

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 ?
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.
All these measures must be tied to the company's business strategies so, when considered together, they become a barometer of how well those goals are being met.
Success also will require a new attitude toward marketing and strategic planning as well as markedly different business strategies and new sets of business assumptions.

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