The term 'BEAT OR DEFEAT' can be solved by the three letter word 'TOP'. This word is used to describe a person or thing that is superior to all others in a particular category. It can also refer to the highest point or level of something, such as the TOP of a mountain or the peak of a wave. Additionally, it can be used to describe a situation in which one person or team has won over another, such as in a game or competition.