STRATEGY  
Entrepreneurs and business managers are often so preoccupied with immediate issues that they lose sight of their ultimate objectives. That's why a business review or preparation of a strategic plan is a virtual necessity. This may not be a recipe for success, but without it a business is much more likely to fail. A sound plan should:
  • Serve as a framework for decisions or for securing support/approval.
  • Provide a basis for more detailed planning.
  • Explain the business to others in order to inform, motivate & involve.
  • Assist benchmarking & performance monitoring.
  • Stimulate change and become building block for next plan.
   
TACTICS  

Strategy may be defined as the general scheme of the conduct of a war, tactics as the planning of means to achieve strategic objectives.

The following illustrate what is necessary in implementing your strategy. You must monitor your business as per:

  • The company objectives
  • The strategy and tactics that will enable the company to reach those objectives
  • The resources required, and how they are going to be obtained;
  • What the main milestones and steps are along the way;
  • Who is responsible for causing each step to occur;
  • What are the company's business risks and external factors that need to be kept under review for indications that a change in strategy or plan may be required.
   
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