Whether you need to create a new product or service, build and execute a hiring plan, or take on a company rebrand, achieving your goals calls for some serious planning. That’s where strategic and tactical planning come in. While strategic planning involves big-picture thinking, tactical planning covers the nitty-gritty of turning strategy into action.
Read on to learn more about:
What a strategic plan is and how you can benefit from one
What a tactical plan is and key benefits of tactical planning
The difference between tactical and strategic planning
Companies create a strategic plan to lock in long-term business objectives and goals. An effective strategic plan outlines the actions needed to reach specific goals. Once completed, it’s a useful tool to communicate a company’s overall direction to the wider organization.
A strategic plan answers such key questions as:
What’s the state of your business, product, or service? What goes into running and turning a profit on your business in the current landscape?
Where do you want your business, product, or service to go? Where do you see your business in three to five years?
What does your organization have to do to achieve this? Which teams, what timelines, and what budgets are necessary?
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A tactical plan is a roadmap that breaks down your long-term strategic plan into smaller, actionable steps — including daily, weekly, and monthly tasks and deadlines to help you meet key milestones. Tactical planning fills in the practical details of your day-to-day business operations, outlining who specifically is on the hook for each task or set of tasks.