I heard Leverage in many time in my company, but I could not get exact meaning of it. For example,
"This will greatly strengthen our ability to maximize and leverage our resources and opportunities across the company. "
Here what does "leverage" mean?
Thanks in advance.
In business, "leverage" (as a verb) means to use strengths gained in one area to improve another area.
An example: The company that made Marlboro the dominant cigarette brand realized that they had learned how to market one of a number of similar products in such a way that it became very successful among its competitiors. So they leveraged this knowledge by buying Miller beer. They then made Miller beer a huge success in the world of beers. Then they tried to leverage that success in the world of soft drinks. The company bought 7-up with the hope of challenging Coke and Pepsi. This time they failed miserably. Nobody's perfect!