Key Elements of Strategy
Policies, strategic tactics, and control are all key elements of an organization’s strategy. Policies provide the foundation for making decisions, strategic tactics put the strategy into action, and control helps to ensure that the strategy is implemented effectively and efficiently. Effective use of these elements can help an organization achieve its goals and sustain its success over the long term.
- Policies: Policies are broad, general guidelines that provide direction and shape decision-making within an organization. They are intended to ensure that the organization operates in a consistent manner, and to provide a framework for making decisions and taking action.
- Strategic tactics: Strategic tactics are specific, concrete actions that are taken to achieve the organization’s goals and objectives. These tactics are usually derived from the overall strategy and are intended to put that strategy into action. Examples of strategic tactics might include launching a new product, entering a new market, or improving operational efficiency.
- Control: Control is the process of monitoring and adjusting an organization’s activities to ensure that its goals and objectives are being met. This involves setting performance standards, measuring results, and taking corrective action as needed. Effective control systems help to ensure that the organization stays on track, and can identify and respond to problems in a timely manner.
Together, policies, strategic tactics, and control form the backbone of an organization’s strategy.