The Strategic Management Process Involves Establishing Goals Strategi The strategic management process involves establishing goals, strategies, and tactics. The goal or mission need not be measurable, but it is something the airport employees can work toward regardless of intermediate achievements. Compared to goals, objectives imply a shorter, measurable time period with an accomplishment that can be measured in numerical terms. For example, an objective might be to achieve 95 percent hangar utilization within 5 years. What is the difference between a strategy and tactics? Give us an example? Please answer the above question in a minimum of 250 words.
Paper For Above instruction The distinction between strategy and tactics is fundamental to effective strategic management within any organization, including airports. Strategy refers to the overarching plan or approach that an organization devises to achieve its long-term goals. It defines the direction and scope of the organization over the long term, considering the external environment and internal capabilities. Tactics, on the other hand, are the specific actions or means employed to implement the strategy. They are more detailed and short-term oriented, focusing on how to operationalize strategic plans in day-to-day activities. In the context of airport management, a strategy might involve positioning the airport as a hub for international cargo traffic by investing in customs facilities and airfreight infrastructure. This strategic goal guides the overall development and investments of the airport over several years. Tactics to support this strategy could include launching a marketing campaign targeted at international logistics companies or streamlining customs procedures to reduce processing times. These tactical actions are specific steps that enable the airport to implement its broader strategic aim effectively. For example, a strategic goal could be to increase passenger throughput by 20% over the next five years. To achieve this, tactics might include improving terminal amenities, expanding marketing outreach to international travelers, and enhancing customer service. Each tactic directly supports the broader strategy by making the airport more attractive to potential passengers, thus helping reach the long-term goal. In summary, strategy defines the ‘what’ and ‘why,’ providing the overall plan, whereas tactics focus on the ‘how,’ detailing the specific actions necessary to realize that plan. References David, F. R. (2017). Strategic Management: Concepts and Cases. Pearson Education.