Strategy vs Tatics

In: Business and Management

Submitted By albin
Words 767
Pages 4
Abstract

Strategy refers to a plan of action designed to achieve a particular goal. Tactics may refer to a plan, procedure, or expedient for promoting a desired end or result. Tactics planning is concerned with today but strategic planning is concerned with the future. A tactic is an action you take to execute the strategy. Tactics are the meat and bread of strategy. The usage of the words strategy and tactic in business is also derived from the original military context.

Strategy

The basic definition of strategy is an organization’s long term course of action designed to deliver a unique customer experience while achieving its goals (Crane, Kerin, Hartley, & Rudelius, 2011). There are three levels of strategies in large organizations which are corporate level, business unit level and functional level. The board of directors will oversees these three levels of strategies and helps the senior management team to achieve the ultimate mission.

Strategy also involves the allocation of resources necessary to achieve the organizational goals. It also concerned with deciding what business the organization should be in, where it wants to be and how it is going to get there. To develop strategy, the senior managers need to go through different stages which includes clarify objectives, carry out internal and external audit, conduct a SWOT analysis, develop plan to achieve, implement plan, review and evaluate outcomes.

A business strategy is different from a tactic in that different tactics may be deployed as part of a single strategy. For example, one strategy to gain market share would be brand building. As part of a company's brand building strategy, they may adopt different tactics like online advertising, celebrity endorsements, product launching event and special promotions for a specific period.

Tactics

Tactics are detailed day-to-day operational…...

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