ENTREPRENEURSHIP

Detailed explanation-1: -A strategy is aimed at the future, concerns the long term and involves different facets of an organisation.

Detailed explanation-2: -Is strategy still relevant? The answer is: yes it is. If strategy is about the future and about anticipating and shaping tomorrow to achieve managerial and organizational goals, why is it that a leading consulting company has the audacity to raise this issue publicly?

Detailed explanation-3: -Strategic planning is an ongoing process by which an organization sets its forward course by bringing all of its stakeholders together to examine current realities and define its vision for the future. It examines its strengths, weaknesses, and strengths, resources available, and opportunities.

Detailed explanation-4: -Tactical Planning. Strategic planning lays out the long-term, broad goals that a business or individual wants to achieve. And tactical planning outlines the short-term steps and actions that should be taken to achieve the goals described in the strategic plan.