An organizations recipe to success
Have you ever wondered how your favorite franchises started their business? Typically, they all had to create a business plan in order for them to be able to know how they will run their business. Yes, it starts with a brilliant idea, however, this idea needs a road map that will enable the business to grow and become successful. Once the business has established what industry it wants to cater to, it needs to develop a strong understanding of who its target audience is and how it can fulfill its needs. During this process, the business has to know what its vision ( how it sees itself in the future) and mission (what its required to do to achieve its vision) is. The next stage would be for the business to start identifying goals that it wants to achieve, these goals will be achieved by having strategies and tactics.
When an organization has identified its goals it proceeds to developing a strategy, which is a long term plan that will enable it to achieve objectives that will serve as a path way to attain the goals. The strategies the organization create are required to have a purpose. For instance, organization X will need to create a marketing strategy that will successfully reach its target audience. The marketing startegy could be to utilize print media and social media to communicate to the target audience. Even though the strategy is long term, it could however change at any given point due to any market changes that the organization may potentially face (these changes could be based on competitors). Furthermore, if the organization wants to position itself in the market it needs to make sure that what its offering would be unique and as a result get the customers to chose them over other competing organizations. With a strong and concise strategy, the organization would have a clear path as to how it will successfully achieve its goals.
In contrast to strategies, tactics are a short term plan that will implemented in order to support a strategy. Simply having a strategy would mean the organization is thinking way far ahead without having resources that will be their to support it. The tactics will be the building blocks of the strategy i.e the organization will need to start thinking at a smaller scale by setting sub-goals that can be achieved within a short period of time. For example, a college students strategy to find a really good job in the future would be to maintain a high GPA, his/her tactic to achieve this would be to participate in classes, meet assignment deadlines and study hard for tests. From a business stand point, if organization X wanted to a effective social media strategy its tactics would be to drive traffic to its social media pages by sharing valuable content and regularly engaging with users.
Kryscynski, D. (2012, November 8). What Is Strategy? [Video]. Retrieved September 19, 2015 from https://www.youtube.com/watch?v=TD7WSLeQtVw
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Owyang, J. (2013, January 14). The difference between strategy and tactics [Blog comment]. Retrieved September 19, 2015 from http://www.web-strategist.com/blog/2013/01/14/the-difference-between-strategy-and-tactics/
Figure 1: Business to community [Untitled photograph of a note]. (n.d.). Retrieved September 20, 2015 from http://cdn.business2community.com/wp-content/uploads/2015/05/mart-remarketing.jpg.jpg
Figure 2: The Productivity Pro [Untitled photograph of team work]. (n.d.). Retrieved September 20, 2015 from http://theproductivitypro.com/wp/wp-content/uploads/2012/11/strategy.jpg