Strategy vs Tactics
A strategy is a specific approach to reach a goal which you defined on a very high level. Also the strategy document outlines what the goals are. While tactics describe the actions to archive these goals and are way more specific.
The strategy is required to set the direction of the organization, whilst the tactics are required to define how you will actually get there. Or strategy is the WHAT and Tactics the HOW and WHO.
Development of a medium and long-term strategy
In principle, there are 7 elements to set up a successful strategy in a company.
- Define the core strategic elements and establish investment principles
- Structured identification of customer potential and identification of priority customers
- Strengths and weaknesses analysis to generate ideas (e.g. SWOT)
- Derive concrete customer development initiatives from the SWOT analysis
- Analytical evaluation and selection of measures
- Set ambitious and measurable goals (SMART)
- Development of the client plan incl. financing
Plan on a Page
A simple template to start is this Plan on a page. Feel free to use this to define your strategy. And feel free to share these information with friends or colleagues.
