Organizational Goals, Strategies and Tactics
To measure their viability as well as remain relevant in a highly competitive marketplace, businesses routinely draft both long-term and short-term goals. This text highlights the importance of strategies, goals as well as tactics for business entities. In addition to discussing how they can be measured, the interrelationship between business strategies and tactics will also be discussed.
Strategies, Goals and Tactics: Discussion
A strategy according to Plunkett, Attner and Allen (2011) can be defined as "a course of action created to achieve a long-term goal." The authors on the other hand define a tactic as "a course of action designed to achieve a short-term goal; an objective" (Plunkett, Attner and Allen, 2011). In basic terms, a goal can be termed the end result an entity commits or desires to achieve. More specifically, Hill and Jones (2012) define a goal as "a precise and measurable desired future state that a company attempts to realize." Goals are in most cases divided into two i.e. short-term goals and long-term goals. While short-term goals are meant to be accomplished within a relatively short period of time i.e. In less than one year; long-term goals ordinarily take a longer period of time to accomplish i.e. more than one year.
The relevance of strategies, goals as well as tactics cannot be overstated. In a way, a business that defines its strategies, goals as well as tactics...
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Nike Inc.IntroductionNike, Inc. was founded between 1964 and 1978. Its headquarters are in Oregon, which is in Beaverton. Both Phil Knight and Bill Bowerman created the company (Beresin, 2011). The company's initial retail outlet was opened in 1966, which led to the creation of the Nike shoe brand in 1972. In 1978, the company gained Nike's name, making it go public two years later (Beresin, 2011). Currently, it has retail
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