WHAT TO READ NEXT
What is business strategy
Strategy is how we get there / tactics are what we do to get there
Strategy is the collection of activities needed to accomplish a goal whereas tactics are the single activity that needs to occur in an effort to get closer to the goal.
Strategy
A well defined strategy relies on a complex set of tactics to ensure that it is not easily imitable. A true strategy creates a competitive advantage by creating a unique fit across the firm’s capabilities and products and is a cohesive response to an important challenge.
Additionally, a good strategy is one that is unexpected and solves a problem. Strategies are not slogans, list of to-do things, or powerpoint presentations. Finally, cost-cutting measures that push for efficiency gains are not a strategy. They are an operational plan.
Tactics
Tactics are the “how” behind a strategy. Taken individually, they are easy to copy. But taken together, tactics have the ability to move the system as a whole – integrate the organization by creating a unique fit that is not easily reproducible.
Insight
A strategy is comprised of artfully assembled tactics that when taken as a whole provide a competitive advantage.
FEATURED INSIGHTS
Getting rid of the SWOT
