55 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. The Free Press. ↵
- Business Dictionary. (n.d.). Tactics. In Businessdictionary.com Retrieved July 29, 2020, from http://www.businessdictionary.com/definition/tactics.html ↵