Video: What Is Strategy?
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?”. (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?
- Mintzberg, H. Ahlstrand, B. & Lampel, J. (1998). Strategy safari: A guided tour through the wilds of strategic management. Prentice Hall, Upper Saddle River. ↵
- Mutabazi Patrick (2016, March 15) What is The Difference between "Tactics" and "Strategy"? Linkedin https://www.linkedin.com/pulse/what-difference-between-tactics-strategy-patric-mutabazi/ ↵