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Goals, Mission statement, Objectives, Strategies and Tactics

Mission, Objectives, strategies, and tactics are the foundation that support and allow a business to reach its goal. A business first develops its mission statement, then its objectives, then its strategies, and then finally the tactics. Moving from general to the specific.

Mission Statement

The mission is the very reason and justification for the existence of a business. These are usually expressed through Mission statements. The mission statement is the overreaching success your organization is striving for and are more general than objectives. 

Objectives

Objectives are the devices used to measure the success or failure of the organization. The key word here is measurable. The key word here is measurable. If your objective is not measurable you do not have an objective. 

Strategies

Strategies are the “how” to meet your objectives. Strategies start with words like employ, implement, develop, and add. Strategies are not as specific as tactics.

Tactics

Tactics are where the rubber meets the road. Tactics get you one more level of specificity, as to what you are going to do to implement your strategies. After you develop the tactics you want to employ, you will need to develop action plans which are the, who is going to do what, to get your tactics executed. Action plans should include specific dates for each action to insure they are easy to follow up on.

For Example:

If a beverage company has a mission to be the market leader then one of the objectives to achieving the mission could be to increase sales by 25%. To reach its objective the company could use the following strategies: add a new beverage to the company’s line, expand its current sales territory, expand the types of outlets the beverage is available, etc.

Potential tactics for the company: Add new beverage offering to the line for example a fruit juice , introduce more variety of packages available for distribution (apart from 500 ml, they could introduce a family pack of 1.5 litres), use buy one get one free sales tactic, develop sampling program, print coasters for restaurants to use pushing your product, etc.

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