According to Wiktionary:
Pragmatism is a noun meaning: The compromising of one's ideals to better deal with the specifics of a situation. The pursuit of practicality over aesthetic qualities; utilitarianism(philosophy) A philosophic school linking the meaning of beliefs to the actions of a believer, and the truth of beliefs to success of those actions in securing a believer's goals.
Pragmatic is an adjective meaning: Practical, concerned with making decisions and actions that are useful in practice, not just theory.
Wikipedia suggests:
[That] most of the thinkers who describe themselves as pragmatists consider practical consequences or real effects to be vital components of both meaning and truth.
