development (noun, de-vel-op-ment, \ dɪˈveləpmənt \) strategy (noun, strat-e-gy, \ ˈstrætɪdʒi \)
Definition: is a business growth strategy that can be implemented in three ways: a) incremental: in which a company focuses on a slow and steady development cycle and works towards a desirable end result, b) evolutionary: in which an organization develops in small steps, but in this case, there is no projected end result, as the organization simply focuses on refining and improving its successful services or products, and c) grand design: in which a business is completely transformed by using a get-it-right-on-the-first-try approach.
In a Sentence:
- Our manager has always believed in the incremental development strategy. From the beginning, he had a clear vision of how our company has to look like in four years.
- Since Apple follows an evolutionary development strategy, they tend to improve on their previous models and rarely create new products from scratch.
- I think that grand design is the worst development strategy approach since it’s almost impossible to create a product that won’t need any changes or updates.
Synonyms and related words: growth strategy, strategy, strategic planning, strategic objectives, low-cost strategy
