business strategy JUST WRITTEN FOR YOU
/ˈbɪz.nəs ˈstræt.ə.dʒi/ · biz·ness strat·e·gy
noun
- A comprehensive plan of action designed to achieve long‑term goals and secure a competitive advantage for an organization. The company's new business strategy focuses on expanding into emerging markets while investing heavily in sustainable technology.
- The set of coordinated decisions and initiatives that determines the direction, scope, and resource allocation of a firm over time. Effective business strategy requires aligning product development, marketing, and finance with the firm’s overall vision.
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Did you know? The phrase "business strategy" entered mainstream academic literature after a 1965 Harvard Business Review article, which coined it to distinguish long‑range planning from day‑to‑day operational tactics.
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