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Management & Leadership vocabulary · Strategy and Planning

Strategy

Meaning in management & leadership, with examples

/ˈstrætədʒi/nounCore term

In management & leadership, strategy means: A long-term plan that sets out where an organisation wants to go and the main choices it will make to get there, such as which markets to enter and what to stop doing.

In Turkish: strateji, stratejik plan

How it is used

Senior managers develop, set or define a strategy; everyone else is expected to understand it and put it into practice. The adjective is strategic: strategic plan, strategic priority, strategic decision.

Example sentences

  1. Our strategy for the next three years is to grow in Europe and simplify our product range.

  2. The board approved the new digital strategy last week.

  3. Cutting prices is a tactic, not a strategy.

Common collocations

  • develop a strategy
  • growth strategy
  • long-term strategy
  • strategy execution
  • in line with the strategy
  • visionA clear picture of what an organisation or team wants to become in the future, used to give people direction and a reason to work towards the same aim.
  • objectiveA specific, measurable result that a team or organisation plans to achieve by a certain date, usually as one step towards a wider goal.
  • roadmapA plan that shows the main steps, projects or product features an organisation intends to deliver over time, usually in the order they will happen.
  • SWOT analysisA planning tool that lists an organisation's internal strengths and weaknesses and the external opportunities and threats it faces, used before making strategic choices.
  • executionThe process of putting a plan or strategy into action and delivering results, as opposed to only designing or discussing it.

More terms: Strategy and Planning

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