Vocabulary Words Every Business Strategist Should Know

Plan

Definition: A detailed proposal for doing or achieving something; a strategy or outline.

• They made a plan for their vacation next summer.
• Having a plan helps organize thoughts and actions.
• She wrote a plan for her science project.

Plan in a sentence

Goal

Definition: An aim or desired result that one works towards.

• My goal is to finish reading this book by next week.
• Setting a goal helps me stay focused.
• He scored a goal in the soccer game.

Goal in a sentence

Team

Definition: A group of individuals working together towards a common goal.

• The soccer team practiced every day after school.
• They formed a team for the science project.
• Teamwork is essential for success.

Team in a sentence

Work

Definition: activity involving mental or physical effort

• He has a lot of work to do this week.
• She enjoys her work as a teacher.
• They finished their work ahead of schedule.

Work in a sentence

Idea

Definition: A thought or suggestion about a possible course of action.

• She had a great idea for the project.
• Can you share your idea with the class?
• His idea was very creative and unique.

Idea in a sentence

Time

Definition: A measured period during which events occur; a point in the day.

• What time is it now?
• We need to manage our time wisely.
• Time flies when you're having fun.

Time in a sentence

Help

Definition: To assist someone with something.

• Can you help me with my homework?
• She helped her mother in the kitchen.
• He always helps his friends.

Help in a sentence

Task

Definition: A piece of work to be done; a duty or job.

• I have a task to complete for school.
• She finished her task before the deadline.
• They assigned a task to each group member.

Task in a sentence

Deal

Definition: To agree on something or to distribute cards in a game.

• We made a deal to share the snacks.
• He had to deal with a difficult situation.
• Let's deal the cards and start the game.

Deal in a sentence

Money

Definition: Paper or coins used to buy things.

• I need money to buy a new book.
• He saved his money for a new bike.
• We use money to pay for food.

Money in a sentence

Market

Definition: A place where people buy and sell things.

• We went to the market to buy vegetables.
• The market was very crowded today.
• She sells fruits at the local market.

Market in a sentence

Sell

Definition: To give something to someone in exchange for money.

• I want to sell my old toys at the yard sale.
• The shop will sell fresh fruits and vegetables.
• He decided to sell his bike because he needed money.

Sell in a sentence

Buy

Definition: To get something by paying money.

• I want to buy a new phone.
• She bought a gift for her friend.
• They buy fresh vegetables from the market.

Buy in a sentence

Name

Definition: A word by which a person or thing is known.

• What is your name?
• Her name is Sarah.
• He wrote his name on the paper.

Name in a sentence

Job

Definition: a paid position of regular employment

• He found a job at the local library.
• She enjoys her job as a teacher.
• Many students are looking for summer jobs.

Job in a sentence

Grow

Definition: To increase in size or develop; to cultivate plants.

• Plants need water and sunlight to grow.
• He wants to grow taller.
• She will grow flowers in her garden.

Grow in a sentence

Win

Definition: To be successful in a competition or achieve victory.

• I hope to win the race this year.
• He wants to win a medal in the tournament.
• They will win if they work together.

Win in a sentence

Start

Definition: To begin something.

• Let's start the game now.
• I want to start reading more books this year.
• You should start your homework early to finish on time.

Start in a sentence

Meet

Definition: To come together with someone.

• I will meet my friend at the park.
• They meet every Sunday for coffee.
• She is happy to meet new people.

Meet in a sentence

Cost

Definition: The amount of money needed to buy something.

• The cost of the book is ten dollars.
• She checked the cost of the concert tickets.
• It may cost more to travel during the holidays.

Cost in a sentence

Strategy

Definition: A plan of action designed to achieve a goal.

• We need a strategy to complete the project on time.
• The team developed a new strategy for winning.
• Her strategy for studying includes flashcards.

Strategy in a sentence

Product

Definition: An item that is made for sale or use; something produced.

• This product is popular among kids.
• They are advertising a new product on TV.
• She bought a product that helps with hair care.

Product in a sentence

Sales

Definition: The exchange of goods for money.

• The sales at the store are amazing this week.
• He works in sales and loves his job.
• Sales have increased since last year.

Sales in a sentence

Profit

Definition: The financial gain made after subtracting expenses.

• The business made a profit last year.
• They hope to increase their profit this quarter.
• His hard work led to a profit for the company.

Profit in a sentence

Customer

Definition: A person who buys goods or services.

• The customer was happy with her purchase.
• They treat every customer with respect.
• She is a loyal customer at that store.

Customer in a sentence

Competition

Definition: A contest or rivalry between individuals or groups.

• The competition for the science fair was intense.
• She entered a painting competition.
• They held a competition to see who could run the fastest.

Competition in a sentence

Service

Definition: The action of helping or doing work for someone.

• The restaurant provides excellent service to its customers.
• We offer a service to help students with their studies.
• Volunteering is a way to give back to the community through service.

Service in a sentence

Price

Definition: The amount of money required to buy something.

• The price of the shirt is ten dollars.
• I found a good price for my favorite book.
• Prices change depending on the store.

Price in a sentence

Budget

Definition: A plan for managing money; an estimate of income and expenses.

• I need to create a budget for my monthly spending.
• We saved money by sticking to our budget.
• The school has a budget for supplies and activities.

Budget in a sentence

Growth

Definition: The process of increasing in size or amount.

• The growth of the plant was surprising.
• His growth as a student is evident.
• Economic growth is important for a country.

Growth in a sentence

Risk

Definition: The possibility of something bad happening.

• There is a risk of falling if you climb too high.
• We need to assess the risk before starting the project.
• Taking risks can lead to great rewards if managed well.

Risk in a sentence

Success

Definition: The achievement of a goal or aim; a favorable outcome.

• Her hard work led to her success in school.
• He celebrated his success after winning the competition.
• Success comes from determination and effort.

Success in a sentence

Brand

Definition: A name given to a product or service, often associated with quality.

• Nike is a popular brand for sportswear.
• What brand of shoes do you prefer?
• The brand of cereal we buy is healthy.

Brand in a sentence

Target

Definition: A specific goal or objective; to aim at something.

• They set a target for their sales this year.
• He aimed for the target during practice.
• She worked hard to achieve her target score.

Target in a sentence

Research

Definition: A careful study to learn more about something.

• We need to do research for our project.
• Her research on animals was fascinating.
• He enjoys research in science.

Research in a sentence

Analysis

Definition: The detailed examination of something to understand it better.

• He did an analysis of the data for his project.
• Her analysis showed interesting results.
• They worked together on the analysis of the report.

Analysis in a sentence

Revenue

Definition: The income generated from normal business operations.

• The company's revenue increased this year.
• They need to find ways to boost their revenue.
• Government revenue comes from taxes.

Revenue in a sentence

Resource

Definition: A source of supply or support.

• Water is a vital resource for life.
• They used their resources wisely to complete the project.
• Education is a key resource for development.

Resource in a sentence

Investment

Definition: The action of putting money into something to earn more money in the future.

• He made a smart investment in stocks.
• They discussed investment options for their savings.
• Her investment in education paid off.

Investment in a sentence

Decision

Definition: A choice made after thinking about something.

• She made a decision to study hard this year.
• It's important to think before making a decision.
• He had to make a difficult decision.

Decision in a sentence

Opportunity

Definition: a chance to do something

• This internship is a great opportunity for her.
• He missed the opportunity to apply for the scholarship.
• She seized every opportunity to learn new skills.

Opportunity in a sentence

Trend

Definition: A general direction in which something is developing or changing.

• The trend in fashion changes every year.
• He noticed a trend of more people using bicycles.
• Social media is a growing trend among teens.

Trend in a sentence

Performance

Definition: The act of doing something, especially in front of an audience; how well someone does a task.

• The performance of the students was impressive.
• He practiced daily for his music performance.
• Her performance in the play earned her applause.

Performance in a sentence

Forecast

Definition: a prediction about future events

• The weather forecast says it will rain tomorrow.
• We reviewed the economic forecast for next year.
• The forecast showed sunny skies ahead.

Forecast in a sentence

Competitive

Definition: Having a strong desire to win or succeed; often used in business or sports contexts.

• Being competitive can drive improvement and innovation.
• He has a competitive spirit in sports and academics.
• Understanding competitive dynamics is important for success.

Competitive in a sentence

Positioning

Definition: The method of placing something in a particular location; also refers to marketing strategies.

• The positioning of the furniture made the room feel larger.
• In marketing, positioning helps define a brand's image.
• He focused on the positioning of the product in the market.

Positioning in a sentence

Stakeholder

Definition: A person or group with an interest in a project or decision.

• The company considers all stakeholders in its decisions.
• Parents are important stakeholders in education.
• They invited stakeholders to discuss the new plan.

Stakeholder in a sentence

Implementation

Definition: The process of putting a plan or decision into effect.

• The implementation of the new policy starts next month.
• She was responsible for the implementation of the project.
• Proper implementation is crucial for success.

Implementation in a sentence

Innovation

Definition: The introduction of new ideas, methods, or products.

• Innovation is key to business success.
• The technology sector thrives on innovation.
• They focus on innovation to improve their services.

Innovation in a sentence

Efficiency

Definition: The ability to do something with minimum waste of time and resources.

• They improved the efficiency of their study habits.
• Efficiency is key in completing tasks quickly.
• She values efficiency in her daily routine.

Efficiency in a sentence

Objective

Definition: Something aimed at or sought; a goal.

• Her main objective is to improve her grades.
• The team's objective is to win the championship.
• He set a clear objective for the project.

Objective in a sentence

Evaluation

Definition: The process of assessing or judging something.

• The teacher will conduct an evaluation of the project.
• She received an evaluation on her performance.
• An evaluation helps improve future work.

Evaluation in a sentence

Collaboration

Definition: working together to achieve a goal

• The collaboration between students was great.
• They focused on collaboration for the project.
• Her collaboration with the artist produced amazing results.

Collaboration in a sentence

Framework

Definition: A basic structure that supports something.

• The framework of the building is strong.
• We created a framework for our research project.
• Understanding the framework helps in problem-solving.

Framework in a sentence

Insight

Definition: the ability to understand something deeply

• He gained insight into human behavior.
• Her insight helped solve the problem.
• They discussed the insight gained from the research.

Insight in a sentence

Decision-making

Definition: The process of making choices or reaching conclusions based on information and analysis.

• Effective decision-making requires careful consideration of options.
• He learned decision-making skills in his leadership course.
• Understanding decision-making can improve problem-solving abilities.

Projection

Definition: An estimate or forecast of future trends based on current data.

• The projection for sales this year looks promising.
• He created a projection of the company's growth.
• Understanding projections helps in financial planning.

Projection in a sentence

Advantage

Definition: A condition or circumstance that puts someone in a favorable position.

• Having good study habits gives students an advantage.
• She used her advantage to excel in the competition.
• Understanding advantage helps in achieving goals.

Advantage in a sentence

Development

Definition: The process of growth or progress; the act of creating something new.

• The development of the app took several months.
• They focused on the development of new skills.
• She is interested in the development of cities.

Development in a sentence

Initiative

Definition: The ability to assess and start things independently.

• She took the initiative to organize the event.
• It's important to show initiative in your work.
• He showed great initiative by starting a club.

Initiative in a sentence

Alignment

Definition: The arrangement of something in a straight line; agreement.

• The alignment of the wheels was off, causing issues.
• They checked the alignment of the project goals.
• Proper alignment is crucial for the machine's operation.

Alignment in a sentence

Execution

Definition: The act of carrying out or putting into effect a plan or task.

• The execution of the project was successful.
• He was responsible for the execution of the event.
• Understanding execution is crucial for achieving goals.

Execution in a sentence

Feasibility

Definition: The practicality or possibility of something being done.

• They assessed the feasibility of the new project.
• The feasibility study showed it was a good idea.
• Understanding feasibility helps in planning effectively.

Feasibility in a sentence

Assessment

Definition: An evaluation or test to measure knowledge or skills.

• The teacher gave an assessment to check our progress.
• We will have a math assessment next week.
• Assessments help identify areas to improve.

Assessment in a sentence

Priority

Definition: something that is more important than other things

• Safety is our top priority during the trip.
• She has to finish her homework as a priority.
• They made her health a priority.

Priority in a sentence

Profitability

Definition: The ability of a business to earn more money than it spends.

• Profitability is essential for the survival of a business.
• They analyzed the profitability of their new product.
• Understanding profitability helps in financial planning.

Profitability in a sentence

Sustainability

Definition: The ability to be maintained or continued over the long term.

• We should focus on sustainability to protect the environment.
• Sustainability is important for future generations.
• She advocates for sustainability in her community.

Sustainability in a sentence

Engagement

Definition: An agreement to get married; involvement in an activity.

• Their engagement was announced last week.
• She has a strong engagement in her studies.
• The engagement party was a lot of fun.

Engagement in a sentence

Vision

Definition: The ability to see; also, a mental image of what you want to achieve.

• She has a clear vision for her future.
• His vision helped the company grow.
• They shared their vision for a better community.

Vision in a sentence

Synergy

Definition: The combined effect that is greater than the sum of individual effects.

• The team worked together in synergy to complete the project.
• Synergy can enhance creativity and productivity.
• Finding synergy among team members is crucial for success.

Synergy in a sentence

Leverage

Definition: To use something to maximum advantage; often refers to resources or influence.

• He used his connections to leverage a better job offer.
• Understanding leverage can help in negotiations.
• She aims to leverage her skills for career growth.

Leverage in a sentence

Disruption

Definition: An interruption or disturbance that causes a change.

• The storm caused a disruption in power supply.
• Her phone caused a disruption during the meeting.
• Understanding disruption helps in managing change.

Disruption in a sentence

Marketshare

Definition: The portion of a market controlled by a particular company or product.

• The company's market share increased after the successful campaign.
• He analyzed the market share of competitors.
• Understanding market share can help in strategic planning.

Benchmarking

Definition: The process of comparing performance metrics to industry standards.

• Benchmarking helps identify areas for improvement.
• She conducted benchmarking to assess the company's efficiency.
• Understanding benchmarking is essential for business growth.

Benchmarking in a sentence

Optimization

Definition: The process of making something as effective or functional as possible.

• They focus on optimization to improve performance.
• Website optimization helps increase traffic.
• He learned about optimization techniques in class.

Optimization in a sentence

Paradigm

Definition: A typical example or pattern of something; a model or framework.

• The scientific paradigm shifted with new discoveries.
• He followed the traditional paradigm for solving the problem.
• In school, we learned about different paradigms in science.

Paradigm in a sentence

Scalability

Definition: The ability of a system to handle growth or increased demand.

• The software has great scalability for future users.
• Scalability is important for business growth.
• They are looking for solutions to improve scalability.

Scalability in a sentence

Agility

Definition: The ability to move quickly and easily.

• Agility is important in many sports.
• He practiced agility drills to improve his performance.
• Agility helps in activities like dance and gymnastics.

Agility in a sentence

Competitiveanalysis

Definition: (See above for definition and examples; repeated term.)

• She conducted a competitive analysis before launching her product.
• Competitive analysis helps businesses improve.
• Understanding competitive analysis is vital for strategy.

Visionary

Definition: A person with original ideas about what the future could be like.

• The visionary leader inspired change in the community.
• She is known for her visionary thinking in technology.
• Understanding visionary ideas can drive innovation.

Visionary in a sentence

Entrepreneurship

Definition: the process of starting and running a new business

• Entrepreneurship encourages creativity and problem-solving.
• Many young people are interested in entrepreneurship today.
• Understanding entrepreneurship can inspire new business ideas.

Analytics

Definition: The systematic analysis of data to gain insights and inform decisions.

• Analytics can help businesses understand customer behavior.
• She used analytics to improve the marketing strategy.
• Effective analytics can drive growth and innovation.

Analytics in a sentence

Diversification

Definition: The process of varying investments or activities to reduce risk.

• Diversification in business can lead to greater stability.
• They discussed the importance of diversification in farming.
• Understanding diversification helps in planning.

Diversification in a sentence

Strategic

Definition: related to a plan of action designed to achieve a goal

• They developed a strategic plan for the project.
• Strategic thinking is important for effective leadership.
• Understanding strategic helps in planning processes.

Strategic in a sentence

Efficacy

Definition: The ability to produce a desired effect or result.

• The efficacy of the medicine was tested in clinical trials.
• She researched the efficacy of different teaching methods.
• Understanding efficacy is vital in evaluating treatments.

Efficacy in a sentence

Forecasting

Definition: The process of making predictions about future events based on data or trends.

• Weather forecasting helps us prepare for storms.
• The company relies on sales forecasting to plan production.
• He learned about forecasting in his economics course.

Forecasting in a sentence

Integration

Definition: The process of combining or bringing together parts into a whole.

• The integration of technology in classrooms enhances learning.
• They worked on the integration of different cultures.
• Integration is important for a harmonious society.

Integration in a sentence

Value Proposition

Definition: A statement that explains the benefits of a product or service.

• The value proposition clearly outlines why customers should choose us.
• A strong value proposition can attract more customers.
• Companies refine their value proposition to stay competitive in the market.