MGT460: Leadership Priorities & Practice (CUN1228A)
Instructor Kyla Williams
Monday – July 30, 2012
Organizational goals, strategies and tactics should be tied into an organization’s mission and vision. The strategic goals and objectives should support the goals of the mission and vision of the organization. The organizations’ leaders should work closely with its board of directors, executive director, managers and employees to create the business strategies for all aspects of the organizational business plan. The strategy defines the tactics and methods the board of directors and executive staff and employees will use to ensure the organizations success. It is very important that any organization whether the organization is a for profit or a nonprofit charitable organization to have a strategy plan. It is what drives the organization toward carry out the mission, vision and the goals of the organization. However, it is very important to have a business strategy plan for any business seeking to be successful at whatever kind of organization or business that they are creating. Strategy and tactics are two different things but they definitely go hand in hand when working with an organization. When you formulate business strategy you choose tactics that will help to achieve your strategic goals. Strategy refers to a direction toward a goal. Tactics are the actions taken to support that strategy. However most businesses deal with five types of strategy and the tactics used to achieve strategic goals: product, pricing, marketing, operational and financial strategies (Strategy Implementation, 2012). According to texts, there is a goal statement, set of strategies, tactics for achieving the strategies, and overall goal measures (London & Edward, 2012). Therefore, strategic goals are usually set by the top management through support of the mission and...