4.24: 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?” 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?
- Mintzberg, H. Ahlstrand, B. and Lampel, J. Strategy Safari : A Guided Tour Through the Wilds of Strategic Management, The Free Press, New York, 1998. ↵
- www.businessdictionary.com/definition/tactics.html ↵
Contributors and Attributions
All rights reserved content
- What Is Strategy?. Authored by : David Kryscynski. Located at : youtu.be/TD7WSLeQtVw. License : All Rights Reserved . License Terms : Standard YouTube license