Session 3
tec.educativa
Created on November 23, 2023
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Transcript
COMPETITIVE ANALYSIS AND STRATEGY
Session: 3Principles of strategic management
What are tactics and how are they used in real life?
Business tactics refer to specific actions and strategies used by an organization to achieve short-term goals and objectives. These tactics are critical to executing a company's overall strategy and responding to pressing challenges and opportunities. This case analysis explores the concept of business tactics, explains the four key elements that tactics should address, and provides examples of companies that have effectively used tactics to deal with crisis situations. Finally, we emphasize the importance of developing and implementing good organizational tactics.
Measurement and evaluation
Resource allocation
Adaptability
Alignment with strategy
Elements of business tactics
Measurement and evaluation
Adaptability
Alignment with strategy
Resource allocation
Now let's check how tactics work in a real case study from the current tactics that Apple uses. They provide a compelling example of how a company used effective tactics to maintain its leadership position in the smartphone market.
This case study from Apple Inc. illustrates the important role of business tactics in achieving and maintaining competitive advantage. Effective tactics align with a company's strategy, adapt to changing conditions, allocate resources wisely, and use measurement and evaluation to drive success. In today's dynamic business environment, companies that master the art of developing and implementing sound strategies are more likely to succeed, innovate, and outperform their competition. Therefore, investing time and effort in developing and implementing good organizational tactics is essential for long-term success in any industry.
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mI LÍNEA DE TIEMPO
In an ever-changing business environment, you must adapt your tactics to meet unexpected challenges and opportunities. Flexibility is critical to adapting tactics in response to changes in market conditions, customer preferences, and the competitive environment. Companies that can adapt their strategies quickly gain a competitive advantage.
To determine the effectiveness of tactics, companies must establish clear performance metrics and regularly evaluate their progress. Metrics help companies assess whether tactics are achieving the intended results, identify areas for improvement, and make necessary adjustments.
Apple devotes significant resources to research and development, marketing, and supply chain management to ensure its strategy is properly supported. The company invests heavily in product innovation and brand promotion, which helps it maintain its market leadership.
Apple continually evaluates the performance of its strategy using metrics such as sales, customer satisfaction surveys, and market share data. Regular evaluations allow Apple to hone its strategy, respond to changing market dynamics, and maintain its competitive advantage.
Business tactics are decisions about the allocation of resources such as time, money, and personnel. Effective resource allocation ensures that tactics are adequately funded and supported. Lack of resources can prevent even the best tactics from being successful.
Effective tactics must always be aligned with the company's broader strategic goals and objectives. Tactics that are not linked to the overall strategy can lead to confusion and inefficiency. Therefore, it is important to ensure that your strategy is aligned with your company's long-term vision.
Apple's ability to adapt its strategy is evident through regular product updates, feature enhancements, and diversification of services such as Apple Music and Apple Pay. In the face of increasing competition, Apple adopted a strategy of expanding its product range and improving its ecosystem to maintain its market position.
Apple's tactics have always been closely tied to its long-term strategy of providing high-quality, user-friendly technology products. When introducing the iPhone, Apple focused on building a seamless user experience with a closed ecosystem of hardware, software, and services, aligning its tactics with its strategic goals of customer loyalty and ecosystem loyalty.