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Business strategies vs. functional tactics

What are the principal differences between business strategies and functional tactics? Why are these differences important?

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Business strategy refers to a long term plan of action that is formulated by an organization to help them achieve the company's long term goals and objectives. In other words, business strategy is a management's game plan for strengthening the company's position in the market environment. In addition, it is used to guide the company's future so that the company abides by its mission and vision statements. A company without a strategy could ...

Solution Summary

This solution highlights the principal differences between business strategies and functional tactics. It also details why these differences important

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