business strategy(redirected from Business Strategies)
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 strategythe 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