- Study guides, Class notes & Summaries

What is the difference between strategy and tactics? A strategy is basically a long-term plan to achieve goals. It is a plan of action designed to achieve a specific goal, or objectives (i.e., increasing market share, expanding into new markets, or beating the competition). A strategy usually involves setting goals, analyzing the competitive environment, and identifying internal and external factors that may affect the organization. It also involves making choices about resource allocation and ...