BACHELOR OF BUSINESS ADMINISTRATION

Detailed explanation-1: -The word tactics is most likely to be associated with Operational strategy. Operational strategies refers to the methods companies use to reach their objectives. By developing operational strategies, a company can examine and implement effective and efficient systems for using resources, personnel and the work process.

Detailed explanation-2: -Definition of tactics While strategy is the action plan that takes you where you want to go, the tactics are the individual steps and actions that will get you there. In a business context, this means the specific actions teams take to implement the initiatives outlined in the strategy.

Detailed explanation-3: -The four competitive priorities for operations strategy and management include cost, quality, flexibility, and speed. Consideration and strategy concerning how to stand apart from the competition in some or all of these will drive your company’s growth and continued success.

Detailed explanation-4: -The following are the major differences between tactics and strategy: Tactics are the properly organized actions that help to achieve a certain end. The strategy is the integrated plan that ensures the achievement of organization objectives.

Detailed explanation-5: -Strategy refers to a direction toward a goal. Tactics are the actions taken to support that strategy. Most businesses deal with five types of strategy and the tactics used to achieve strategic goals: product, pricing, marketing, operational and financial strategies.