In Business Development and particularly Commercial Marketing, the three words are used to connect and pull together the business development plan, although most times for small-medium businesses the phrases and words are often misunderstood..
- Strategy
- Objectives
- Tactics
Strategy, a word of military origin, refers to a plan of action designed to achieve a particular goal.
In business, the strategy aspect is the overall aim of the business. The strategy is concerned with how different engagements are linked.
Building on the work of many thinkers on the subject, one can define strategy as “a comprehensive way to try to pursue ends.
Objective
These are normally for the management staff to develop and create clear structure so that this model can be passed down to staff to implement the activities
In addition, an objective (also known as a goal) is somethingthat one’s effortsor actions are intended to attain or accomplish; purpose; the objective of a military attack; the objective of a fund-raisingdrive etc.
Tactic is the most practised activity within business, its the actual ‘doing’ of the work and campaigns, in marketing its the actual input involved like advertising, leaflets, printing, social media etc.
Overview:
The highest tier of planning is the strategy, which is about how force is translated into objectives or more specifically how you bridge the means together.
