A business strategy is what is used when an opportunity or a crisis occurs. For example, there may be an opportunity to expand into another market, buy a business or meet the needs of a previously unidentified market. Or there may be a need to respond to a strong competitor's entry into your market or address a key employee problem.

A business strategy brings together the resources available (people, capital, and time) to maximize the opportunity or minimize the crisis and often dramatically impacts the overall strategic plan for your business.