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Foundations of Business - Standalo...

4th Edition
William M. Pride + 2 others
ISBN: 9781285193946

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BuyFindarrow_forward

Foundations of Business - Standalo...

4th Edition
William M. Pride + 2 others
ISBN: 9781285193946
Textbook Problem

How do a strategic plan, a tactical plan, and an operational plan differ? What do they all have in common?

Summary Introduction

To determine: The ways in which strategic plan, tactical plan and operational plan differs and the common aspects among them.

Introduction: A plan is a diagram of the activities by which an company expects to achieve its objectives and goals. It is consequential from the key designed planning procedure; a company's strategic planning is its broadest preparation, created as a guide for real strategy setting and decision making practices.

Explanation

The ways in which strategic plan, tactical plan and operational plan differs are as follows:

  • A strategy is a business's broadest arrangement of plans, created as a conduct for important strategy setting and decision making process. It is for the most part intended to accomplish the long term objectives of a business.
  • A tactical plan is a small scale design created to execute the procedure. Most tactical plans cover a one-to three-year time frame...

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