“Origin of Strategy”
The word derives from the Greek word ‘Strategos’, which is referred to a ‘military commander’ during the age of around 500 BC. A strategy is a plan to achieve a goal but sometimes it’s more about what you do rather than what you intend to do.
Tactic is derived from the ancient Greek word ‘Taktike’ meaning “art of arrangement”.
People always confuse both the terms. A Strategy is a blueprint or a road map, whereas tactics are the tools that you are going to use. Both are necessary to achieve success, without any one of them the purpose for any endeavor will fail.
Strategy answers four key questions:
- Where do we compete?
- What unique value do we bring?
- What resources do we utilize?
- What factors allow us to continue to win over time?
If a strategy does not answer any one of the questions then it’s not a viable strategy. It helps to be aligned with the mission of the organization. Tactics are short-term tools used to achieve sub-goals whereas strategy is a long-term plan. People often confuse the terms Goal, Strategy, and Tactics. A goal could be to maximize revenue, a strategy could be to expand the product line to achieve it and a tactic could be to build an app to maximize revenue by expanding the product line. Let’s take another example: A strategy could be to announce or introduce a new product to existing markets through social platforms. That’s an overall plan but to achieve it, you need tactics like share news, offer special deals, tweet and re-tweet regularly, and engage with people by commenting, responding and participating in conversations.
A strategy is not complete unless it has S.M.A.R.T objectives which mean specific, measurable, actionable, realistic and time-bound. It helps to successfully achieve short-term goals. In business, strategy refers to a complete plan from where are we now and where we want to be in the future. As Michael Porter said, “How we think about strategy is a lot to do with competition in the marketplace”. It helps to have a competitive advantage in the marketplace. It is all about how we differentiate ourselves from our competition by having a unique characteristic or a product.
Let’s see some of the major differences:
Unique strategies help to overcome weaknesses and come up with positive results. It helps to foresee any threat and behave in a timely manner. Tactics are specific ways and actions executed to achieve those strategies. Thus, to run a successful business both are important as a cohesive unit. As it is said, “Hope for the best but be prepared for the worse”.
If you’ve another perspective or still got questions about strategies and tactics then leave a comment below.
Stay tuned for my next post about ‘Brand Imagery’ !!
- Owyang, Jeremiah. “The Difference between Strategy and Tactics”. http://www.web-strategist.com/blog/2013/01/14/the-difference-between-strategy-and-tactics/. 14 January. 2013. Web. 19 September. 2016.
- Hankin, Leisha. “Marketing Strategy Vs Tactics”. https://www.linkedin.com/pulse/marketing-strategy-vs-tactics-leisha-hankin. 23 July. 2015. Web. 19 September. 2016
- Josey, Jeremiah. “Strategy Vs Tactics, What’s the difference?”. http://www.slideshare.net/jeremiahjosey/Strategy-versus-Tactics-Presentation-20081029. 8 December. 2008. Web. 19 September. 2016.
- Clinton, Tara. “Strategies Vs Tactics”. http://www.visionpointmarketing.com/blog/entry/strategies-vs-tactics. 14 January. 2016. Web. 19 September. 2016.
- “Strategy”. https://en.wikipedia.org/wiki/Strategy. Wikipedia: The Free Encyclopedia, Wikimedia Foundation. 15 September. 2016. Web. 19 September. 2016.
- “Tactic”. https://en.wikipedia.org/wiki/Tactic_(method). Wikipedia: The Free Encyclopedia, Wikimedia Foundation. 11 August. 2015. Web. 19 September. 2016.
- Kryscynski, David. “What is Strategy”. https://www.youtube.com/watch?v=TD7WSLeQtVw. 5 January. 2015. Web. 19 September. 2016