The strategies chosen will have the controlling influence on the successful accomplishment of any business plan. Consequently, it is essential to understand what strategy is and does...and what it is not.
STRATEGY focuses on EFFECTIVENESS...which is doing the
TACTICS by contrast emphasis EFFICIENCY...which is doing
Both are important, but becoming more efficient in doing the wrong things will only waste time and resources, so identifying the right strategies and constantly testing them is critical. There are huge costs to choosing the wrong strategies. Consequently, management must be open to changes or adjustments in corporate strategies when indicated. That is what it takes to continuously maximize the "return on effort" as well as the "return on investment" inside any organization.
Sound strategy development always demands
more THINKING...and better THINKING.