A business strategy is a plan that outlines how a company will achieve its goals and objectives. It involves analyzing the market, understanding customer needs, and identifying competitive advantages. By setting clear priorities, a business can allocate resources effectively and make informed decisions to drive growth and profitability. Effective business strategies often include elements such as marketing, product development, and financial management. Companies may choose to focus on cost leadership, differentiation, or niche markets to stand out from competitors. Regularly reviewing and adjusting the strategy ensures that the business remains responsive to changes in the market and continues to meet its goals.