Recruiter's Glossary

Examples: Budgeting • Business Restructuring • Market Multiples

Business Strategy

Term from Business Advisory industry explained for recruiters

Business Strategy is the process of planning how a company can succeed and grow in its market. It involves analyzing the current business situation, identifying opportunities and challenges, and creating practical plans to achieve long-term goals. Think of it like creating a roadmap for a company's future. When candidates mention business strategy on their resumes, they're typically showing that they've helped companies make important decisions about where to focus their efforts, how to compete with other companies, and how to make the best use of their resources.

Examples in Resumes

Led development of Business Strategy for Fortune 500 retail client resulting in 30% revenue growth

Created Business Strategy and implementation roadmap for startup expansion into Asian markets

Conducted Business Strategy analysis for merger worth $50M

Developed Corporate Strategy to optimize operations across 5 business units

Implemented Strategic Planning initiatives that reduced costs by 25%

Typical job title: "Business Strategy Consultants"

Also try searching for:

Strategy Consultant Strategic Planning Manager Business Strategy Analyst Corporate Strategy Director Strategic Initiatives Manager Management Consultant Business Development Strategist

Where to Find Business Strategy Consultants

Professional Associations

Online Communities

Professional Networks

Example Interview Questions

Senior Level Questions

Q: Can you describe a situation where you had to completely change a company's strategic direction? What was your approach?

Expected Answer: Look for answers that show experience in leading major strategic changes, including stakeholder management, risk assessment, and successful implementation of new directions. They should mention how they handled challenges and measured success.

Q: How do you evaluate whether a company's current strategy is working?

Expected Answer: Strong answers should discuss using both financial and non-financial metrics, competitive analysis, market trends, and customer feedback. They should also mention specific tools and frameworks they use for evaluation.

Mid Level Questions

Q: What steps would you take to develop a market entry strategy for a new product?

Expected Answer: Should discuss market research, competitor analysis, identifying target customers, pricing strategies, and creating an implementation plan. Look for structured thinking and practical approach.

Q: How do you ensure a strategy is actually implemented rather than just staying as a plan?

Expected Answer: Should mention creating clear action plans, setting measurable goals, assigning responsibilities, establishing timelines, and monitoring progress. Look for experience in practical execution.

Junior Level Questions

Q: What do you consider the key components of a business strategy?

Expected Answer: Should mention basic elements like company goals, market analysis, competitive advantage, resource allocation, and action plans. Look for understanding of how these components work together.

Q: How would you go about gathering information to inform a strategic decision?

Expected Answer: Should discuss research methods like market analysis, customer surveys, competitor research, and internal data analysis. Look for systematic approach to information gathering.