University of Phoenix
Learning Team B Weekly Reflections: Week Six
Performing a business analysis is essential to understanding the current state of an organization as well as the external factors that will affect the business in the future. Using this information to develop strategies and tactics is important in order for a business to take advantage of potential opportunities and limit effects of potential and current threats. The objectives for week 6 were to perform business analyses and differentiate between strategy and tactics. Through team discussion, we found we had similar experiences with our business analyses and a better understanding of the different aspects, challenges, and factors involved in performing and analysis. Team B also reviewed and discussed business strategies versus tactics.
As a team, there were clear comprehensions on differentiating between strategy and tactics. According to Youngwirth (2005), a strategy looks at "the big picture" of a situation and provides the direction in which to proceed; however, it does not tell you how to proceed. A tactic tells you how your strategy "will play out". Another way to look at developing strategies is to set your goals first, then your develop strategies, then tactics. A strategy is an idea, a "conceptualization of how a goal can be achieved" and a tactic is the "action you take to execute the strategy" (Furgurson, 2008).
Performing business analyses was collectively challenging...
Through team discussion, we have shared and learned…
Akan, O., Allen, R. S., Helms, M. M., & Spralls, S. A., I. (2006)....