business strategy
/ˈbɪznəs ˈstrætɪdʒi/
Meaning
This term refers to a clear, long-term plan that a company creates to achieve its goals and defeat its competitors. It guides decisions about sales, marketing, and growth. It is a neutral, professional term used by managers, owners, and business students.
Examples
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Our new business strategy focuses on expanding into international markets.
Our new business strategy focuses on expanding into international markets.
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The CEO explained the company's long-term business strategy during the meeting.
The CEO explained the company's long-term business strategy during the meeting.
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A good business strategy helps a company survive during difficult times.
A good business strategy helps a company survive during difficult times.
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We need to update our business strategy to match current market trends.
We need to update our business strategy to match current market trends.
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They hired a consultant to help them develop a better business strategy.
They hired a consultant to help them develop a better business strategy.
Common Mistakes
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✗ We need a new business strategic.
✓ We need a new business strategy.
"Strategic" is an adjective. We need the noun "strategy" to describe the plan itself.
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✗ The manager made a business strategy plan.
✓ The manager made a business strategy.
"Business strategy" already implies a plan, so adding the word "plan" at the end is redundant.
Related Expressions
Practice
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Without a clear ___, it is very easy for a startup to fail.
💡 A long-term plan for company success.
Show answer
business strategy
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Our current ___ is to offer the lowest prices in town.
💡 The plan we use to compete and grow.
Show answer
business strategy