business strategy
Company's competitive approach
Business strategy is a plan for how an organization will compete and succeed in its market.
It encompasses decisions about which products or services to offer, which customers to target, and how to differentiate from competitors.
Strategy may be deliberate and documented or emerge from patterns of decisions over time.
Their business strategy focused on premium pricing and exceptional service.
The term appears in phrases like business strategy consultant, business strategy framework.
- game planPredetermined approach to winning
- big pictureOverall perspective on things
- differentiationRecognizing meaningful differences
- blue oceanWide maritime expanse
- market disruptionFundamental shift in industry dynamics
first mover · resource allocation · SWOT analysis · contingency planning · diversification · core competencies · market share · value proposition · strategic goals · competitive advantage · playing field · economies of scale · barriers to entry · vision statement · vertical integration · segmentation · targeting · market penetration
- business resourcestrade magazines, training guides, investment guides, financial reports, annual reports
- consultingconsultant, consultants, consulting, advisory, management consulting
- strategic managementstrategic planning, strategic objectives, strategic management, long-term planning, mission
- managementmanagers, management, executives, boss, supervisors
- strategytactics, tactic, tactical, military tactics, strategist
- corporationsApple, Microsoft, Google, Amazon, Toyota
business strategytactics
Methods to achieve goals
day-to-day operations · execution · implementation · firefighting · busywork
business strategyimprovisation
Spontaneous, unplanned creation
crisis response · muddling through · flying blind · winging it · flying by the seat of your pants