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Definition of strategy: A method or plan chosen to bring about a desired future, such as achievement of a goal or solution to a problem.
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- New + Updated Games
- Strategy - Business Insider
- Demystifying Strategy: The What, Who, How, and Why
- Straight to...
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Strategy - Business Insider
Login or Register. Save Word. Log In. Definition of strategy. Keep scrolling for more. Synonyms for strategy Synonyms arrangement , blueprint , design , game , game plan , ground plan , master plan , plan , program , project , road map , scheme , system Visit the Thesaurus for More. Examples of strategy in a Sentence They are proposing a new strategy for treating the disease with a combination of medications. Recent Examples on the Web The five adaption strategies include investing in early warning systems, building more durable infrastructure and improving water management.
First Known Use of strategy , in the meaning defined at sense 1a 1. Learn More about strategy. As such, it's important to have a clear definition of the business unit's mission, vision and values.
Demystifying Strategy: The What, Who, How, and Why
To execute your corporate and business unit strategies successfully, you need teams throughout your organization to work together. Each of these teams has a different contribution to make, meaning that each team needs to have its own team-level strategy, however simple. This team strategy must lead directly to the achievement of business unit and corporate strategies, meaning that all levels of strategy support and enhance each other to ensure that the organization is successful. You need to be working efficiently to achieve the strategic objectives that have been set at higher levels of the organization; so, an important element of your team strategy is to implement best practices to help your team to meet its objectives.
Strategy can be difficult to define, but a good definition is: "Determining how we will win in the period ahead.
In business there are different levels of strategy. Each of these has a different focus, and needs different tools and skills. Corporate strategy focuses on the organization as a whole, while business unit strategy focuses on an individual business unit or market. Finally, team strategy identifies how a team will help the organization meet its overall goals and objectives. This site teaches you the skills you need for a happy and successful career; and this is just one of many tools and resources that you'll find here at Mind Tools. Subscribe to our free newsletter , or join the Mind Tools Club and really supercharge your career!
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Find Out More. Comments 38 Over a month ago BillT wrote. Hi, Thank you for your positive feedback. BillT Mind Tools Team. Over a month ago wrote. Very useful article introducing the different types of strategy applicable to teams, business units to the overall corporation.