Most of the previous indices of democracy have a minimalist conceptual basis which is useful to distinguish democratic from non-democratic regimes. However, 'democracy' is a complex phenomenon and a minimalist measurement cannot do justice to it. The Democracy Barometer is therefore based on a middle range concept of democracy, embracing liberal as well as participatory ideas of democracy, which illuminate the phenomenon from different perspectives).
A Definition of Business Strategy. The definition of business strategy is a long term plan of action designed to achieve a particular goal or set of goals or objectives. Strategy is management's game plan for strengthening the performance of the enterprise. It states how business should be conduct to achieve the desired goals.
A business, then, is an organization which seeks to make a profit through individuals working toward common goals. The goals of the business will vary based on the type of business and the business strategy being used. Regardless of the preferred strategy, businesses must provide a service, product, or good that meets a need of society in some way. Characteristics. There are three key characteristics that must be met to have a business.