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Distinguish between Strategic Planning and Tactical Planning - Leaving Cert Business - Question 6 - 2008
Question 6
Distinguish between Strategic Planning and Tactical Planning. Give one example in each case.
Worked Solution & Example Answer:Distinguish between Strategic Planning and Tactical Planning - Leaving Cert Business - Question 6 - 2008
Step 1
Distinguish between Strategic Planning and Tactical Planning.
Answer
Strategic Planning involves long-term goals and directions for an organization. These plans focus on overarching objectives and often include considerations for growth, product diversification, and market expansion. Such plans are typically developed by top management and guide the organization over an extended period.
Tactical Planning, on the other hand, consists of short-term plans that are more specific in nature and relate to particular functions within the organization. These plans are generally created by senior management and aim to accomplish specific objectives that align with the strategic initiatives.
Step 2
Give one example in each case.
Answer
An example of Strategic Planning could be a company's decision to enter foreign markets to expand its customer base and increase market share.
An example of Tactical Planning might be launching a new advertising campaign designed to boost sales in the current quarter.