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]

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Strategy answers the following four questions:

  1. Where do we compete?
  2. What unique value do we bring to customers?
  3. How will we use our capabilities to provide unique value?
  4. How will we sustain our unique value and position?
  1. Mintzberg, H. Ahlstrand, B. & Lampel, J. (1998). Strategy safari: A guided tour through the wilds of strategic management. The Free Press. ↵
  2. Business Dictionary. (n.d.). Tactics. In Businessdictionary.com Retrieved July 29, 2020, from http://www.businessdictionary.com/definition/tactics.html ↵

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