Can you tell me the difference between tactical and strategic business decisions/plans etc?
March 8th, 2009
curiouser asked:
The dictionary gives the following as the definitions.
The dictionary gives the following as the definitions.
Tactics- a system or a detail of tactics.
a plan, procedure, or expedient for promoting a desired end or result.
Strategy- a plan, method, or series of maneuvers or stratagems for obtaining a specific goal or result.
Strikes me as similar ! But I am suppose to compare/contrast between a particular strategic vs. tactical decision. Thank-you
Some of the confusion exists because, in reality, the terms are adopted from historical military use and applied to business management. A basic starting point is that strategy implies a long-range view or outlook in the planning cycle. Tactics, by contrast with that definition, would mean short-term actions that support or facilitate achieving the long-range strategic objectives.
“Strategy is a pattern, that is, consistency in behavior over time. A company that perpetually markets the most expensive products in its industry pursues what is commonly called a high-end strategy, just as a person who always accepts the most challenging of jobs may be described as pursuing a high-risk strategy.”