STRATEGY & TACTICS

Question 1

THE PROCESS

Answer 1

Mission statement - The overall goals and or purpose of a business

From a mission statement you get:

Corporate objectives - The very specific goals to be achieved (tend to be shorter term)

From corporate objectives you get:

Corporate Strategy - The plan for achieving an organisation’s objectives

From corporate strategy you get:

Functional Objectives - Departmental goals linked to the strategy - They help with the corporate strategy

Strategy and tactics come into play after the mission statement and the corporate objectives.

Question 2

What are strategies

Answer 2

Medium to long term plans set at board level that have the aim of achieving an organisation’s objectives

Question 3

What are tactics

Answer 3

Short term plans used to carry out a strategy.

The tactics are the short term things that you do to make the strategy successful.