UNIT 7 - Tactics v Strategy

Question 1

define strategy

Answer 1

LT plan based on an org vision

Question 2

describe startegy

Answer 2

organised set of objectives that can differentiate org from its rivals

Question 3

define tactic

Answer 3

how a bs does things

carefully planned action created to achieve a specific short term objective

Question 4

what do atctocs determine

Answer 4

how strategy will be executed

Question 5

i have a strategy to improve brand image to increase added value what would my tactics be

Answer 5

using social influencers

sponsoring ptclr events

Question 6

i have strategy to have cheapest prices in mkt through cost minimization approaches what would my tactic be

Answer 6

narrow product range to allow exploitation of EOS to bring AUC down

Question 7

I have strategy to attract and retain leading talent in industry what would my tactic be

Answer 7

use financial methods - larger salaries/bonuses/a profit share

non financial methods -flexible working

Question 8

true or false stategies have action plan

Answer 8

true

Question 9

if strategies have an action plan what are tactics

Answer 9

action to plan

Question 10

descrieb strategies and tactics in terms of riskn

Answer 10

strategy - high risk

tactics - low risk

Question 11

explain why startegies are high risk but tactics are low risj

Answer 11

if Strategy wrong tactics wrong

Question 12

true or false strategies are proactive

Answer 12

true

Question 13

if strategies are proactive what are tactics

Answer 13

tactics reactive to strategy

Question 14

starteges are usually planned so likely to be

Answer 14

rigid

Question 15

if startegies are planned and therfore rigid whata re tactics

Answer 15

flexible