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Strategy foundations | Management homework help

  

  • Read the article titled “Five Questions That Make Strategy Real” located at https://www.linkedin.com/pulse/five-questions-make-strategy-real-jack-welch. Read the article titled “Eight Maxims of Strategy”, located here. From the two articles, specify the main differences between strategy and tactics. Provide support for your response.  
  • Compare and contrast the main characterization of strategy that both  Welch and Sir Liddell-Hart present in their respective articles. Next,  from Sir Liddell-Hart’s article, select one of the eight maxims of  strategy and provide a real business world example which reflects the  maxim you selected. Provide rationale to support your reasoning. 

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The differences between strategy and tactics as it relates to both  articles, “Five Questions That Make Strategy Real” and “Eight Maxims of  Strategy” is that the former would be categorized as a strategy and the  latter could be classified as a list of tactics. According to Robert M.  Grant (2016), “strategy is the means by which individuals or  organizations achieve their objectives.” The article entitled “Five  Questions That Make Strategy Real” (p. 14), provided thought provoking  questions that are an essential part in creating a blueprint for  strategy. This article supports the concept that strategy is a verb not a  noun that is a plan of action that is aggressively implemented and is a  big part of the foundation for an individual or organization. The  questions are meant to initiate a series of actions that must be  answered or taken in order to achieve a certain goal or optimal effect.  It provides more of a comprehensive guideline to success such as  suggestive questions of a SWOT analysis. One key component of strategy  is its dependence on consistency.

Although the terms strategy and tactic are sometimes used  interchangeably they do hold different meanings. As strategy is  perceived more like a plan or campaign of actions lead by meticulous  decision making, Tactics are considered the actual means that an  individual or an organization uses to meet certain objectives. The  article “Eight Maxims of Strategy” is a numbered list of various  approaches one can take when organizing a strategic plan that considers  specific logistics.

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