Your strategy becomes my tactics – but you have to stay in control of HOW and WHEN
We’ve been talking about the importance of developing good strategies and understanding where strategy ends and tactics begin. I’m using a simple but workable set of definitions — strategies deal with goals, asset development & allocation, and longer time frames. Tactics are methods for reaching goals, deal with spending or earning, and usually take place within a shorter time horizon.
Strategies should be developed at the Board or CEO level, and integrate on a global level. Tactics must support and address your global strategy, but have to be adjusted for local business envirnoments and current economic realities.