It is the easiest method to divide any planning notions into two categories to understand strategy as a concept. In a closer consideration of the current moment and immediate actions, the schedule of the day or plan of action for the evening can be called a tactical plan. Tactics are responsible for making decisions in the present moment, affecting the relevant situation, and having more flexibility. Strategy, on the other hand, is less flexible but essentially consists of a set of tactics and has, in front of it, a large horizon available for planning.
That is why strategy is always associated with the long-term actions of a person or organization and is the most important principle of the existence of almost any activity. For example, a strategy may include plans for investing with all risks and opportunities in mind (Stoner, 2012). This fact denotes long-term planning of investments and highlighting reactive or proactive actions when potential risks arise. Moreover, their efficiency can be greatly improved with proper workflow planning in any environment (Lanzolla & Markides, 2021). Undoubtedly, this refers specifically to a carefully calibrated plan of action and its maximum possible compliance.
On the other hand, the strategy concept can be divided into basic details for a more detailed understanding. It includes knowing and operating its resources, setting goals, and making decisions in the context of seeking to maximize the chances of success of the planned or overall development. In this case, the most accurate strategy takes into account exactly the available resources at the time of planning without including additional potential additions and further advantages. At the exact time, in the chance of adaptability, the flexibility of the strategy can facilitate timely adjustments in the course of its execution, which helps to adapt to challenges or new dynamic circumstances.
References
Lanzolla, G., & Markides, C. (2021). A business model view of strategy. The Journal of Management Studies, 58(2), 540–553. Web.
Stoner, J. L. (2012). How to identify your team or organization’s purpose. Seapoint Center for Collaborative Leadership. Web.