Study Notes
Business Strategy & Tactics
- Level:
- A-Level, IB, BTEC National
- Board:
- AQA, Edexcel, OCR, IB, Eduqas, WJEC
Last updated 8 Aug 2019
A distinction is often made between business strategy and business tactics. What is the difference?
BUSINESS STRATEGY
Business strategy is mainly concerned with the longer-term. Business strategy is focused on:
- The long-term business plan, based on the business vision and mission
- What needs to be done to achieve corporate objectives
- What resources the business needs and to obtain and use them
In terms of business theory, business strategy is more concerned with:
- Mission statements
- Vision and core values
- Organisational culture
- Business planning
- Growth strategy
- Segmentation, targeting & positioning
BUSINESS TACTICS
By contrast, business tactics:
Tend to be focused on short-term issues, responding to opportunities & threats
Are often influenced by functional objectives and decision-making
In terms of business theory, the following are more relevant to the tactics employed by a business:
- Marketing mix
- Financial & non-financial rewards
- Inventory management
- Location decisions
- Day-to-day customer service decisions
- Recruitment, selection and training processes
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