BusinessBuilding

Overview

A tactic is a conceptual action aiming at the achievement of a goal. This action can be implemented as one or more specific tasks. The term is commonly used in business, protest and military contexts, as well as in chess, sports or other competitive activities.

Strategy is a set of choices used to achieve an overall objective whereas tactics are the specific actions used when applying those strategic choices.

Strategy: The What & Why

Strategy generally involves setting goals, determining actions to achieve the goals, and mobilizing resources to execute the actions.  A strategy describes how the ends (goals) will be achieved by the means (resources). Strategy can be intended or can emerge as a pattern of activity as the organization adapts to its environment or competes.  It involves activities such as strategic planning and strategic thinking.

Strategy typically involves two major processes: formulation and implementation. Formulation involves analyzing the environment or situation, making a diagnosis, and developing guiding policies. It includes such activities as strategic planning and strategic thinking. Implementation refers to the action plans taken to achieve the goals established by the guiding policy.

Modern business strategy emerged as a field of study and practice in the 1960s; prior to that time, the words "strategy" and "competition" rarely appeared in the most prominent management literature.  Alfred Chandler wrote in 1962 that: "Strategy is the determination of the basic long-term goals of an enterprise, and the adoption of courses of action and the allocation of resources necessary for carrying out these goals."  Michael Porter defined strategy in 1980 as the "...broad formula for how a business is going to compete, what its goals should be, and what policies will be needed to carry out those goals" and the "...combination of the ends (goals) for which the firm is striving and the means(policies) by which it is seeking to get there"

Tactics: The How

a conceptual action implemented as one or more specific tasks

Tools

Safechoice Business Builders views both Services and Products as Tools. The major role of a Tool is to assist in the development of Strategies or assist in the execution of Tactics used to achieve the Strategic goals.

Strategic Tools
Most Strategic Tools are a services or consulting based depending on the Strategic category that is the focus. The Strategic Tools come in the form of webinars, workshops, or just worksheets that help steer the entrepreneur to develop Strategic decisions for growing their business.