A strategy is a directed course of action to achieve an intended set of goals.[1] A tactic is the means by which a strategy is carried out. [2]
You can view the transcript for “What is Strategy?” here (opens in new window).
Strategy answers the following four questions:
- Where do we compete?
- What unique value do we bring to customers?
- How will we use our capabilities to provide unique value?
- How will we sustain our unique value and position?
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- Mintzberg, H. Ahlstrand, B. and Lampel, J. Strategy Safari : A Guided Tour Through the Wilds of Strategic Management, The Free Press, New York, 1998. ↵
- http://www.businessdictionary.com/definition/tactics.html ↵
