leverage

Vocabulary Word

Definition

When you hear 'leverage', think about 'using something to maximum advantage.' It traditionally refers to the effect of using borrowed funds to magnify potential gains or losses.

Examples in Different Contexts

In negotiations, a company might leverage its market dominance to secure better deals. A CEO might say, 'We can leverage our strong market presence to negotiate better terms with suppliers.'

Practice Scenarios

Tech

Scenario:

By taking advantage of readily available software libraries and frameworks, we can expedite our development process.

Response:

Yes, leveraging these resources will definitely enhance our efficiency and speed up the project delivery timeline.

Impact

Scenario:

Our organization has established strong relationships with community stakeholders. We could really push our initiatives.

Response:

Absolutely, we should leverage our connections with the stakeholders to promote our causes and gain more support.