strategy

Definitions (2)
Related Terms
1. A method or plan chosen to bring about a desired future, such as achievement of a goal or solution to a problem.
2. The art and science of planning and marshalling resources for their most efficient and effective use. The term is derived from the Greek word for generalship or leading an army. See also tactics.

Use 'strategy' in a Sentence

The company defined a new strategy where it would reduce the price of its products that had been in market for more than 90 days to reduce their inventory.
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The intelligent young woman's strategy was simple and concise; she would devise a plan to make money and then implement that plan over the course of the next month.
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Mark's strategy of luring his opponent's pawns to his side of the board allowed him to win the chess match for his school.
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Notable Quotable

One Method for Having a Successful Strategy
"My approach works not by making valid predictions but by allowing me to correct false ones."
- George Soros
How should you sell your product?
"There is no one-size-fits-all solution to wooing customers. For two decades, Dell Computer bypassed retailers and sold directly to customers, with limited tech support. General Motors and Coca Cola rely on distributors to move their cars and cans. Clothing companies like Ralph Lauren work both internal and external channels. And thanks to daily, intensive sales training, privately held Lazy Days moves some $800 million worth of RVs out of one sprawling location near Tampa, Fla. Whatever sales method you choose, make sure it aligns with your overall business strategy."
- Brett Nelson


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