A(n) ________ is a plan for how a business intends to go about its own performance and outdo that of its competition.

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A strategy is a plan or approach for achieving a specific goal. In the context of business, a strategy outlines how a company will achieve its goals and gain a competitive advantage over its rivals. A model refers to a framework or system that a business uses to generate revenue, while an opportunity refers to a favorable circumstance that presents a chance for a business to grow or succeed. However, only a strategy specifically addresses the plan for outperforming competitors.

A(n) ________ Is a Plan for How a Business Intends