Strategic and Tactical Management Essay Example | Topics and Well Written Essays - 500 words

Strategic and Tactical Management - Essay ExampleEveryone in the company should strive for the attainment of organizational vision. Lastly, two important things ar stressed by Thomson and Strickland (2001), formulation of a good strategy and executing it most efficiently. Truly, strategic way is nothing if leaders cannot come up with a good strategy. Also, no matter how good a strategy is, if not executed efficiently then the company is still bound to fail.Tactical management is the companys ability to quickly and accurately assess the situation and respond appropriately (Thomson and Strickland 2001). As with strategic management it measures the companys responsiveness to the internal and external factors where it operates. However, tactical managements post is to minimize risk and maximizing returns for the business organization in a day to day basis. Thus, best practices will include a key arrangement of the interrelatedness of economic variables which can determine the risks a nd opportunities that the company faces. Also, companies should always be responsive to changes by evaluating the alternative responses that it can implement. Being open to change and the posit of technological advances in tactical management can also improve this process in a business organization.Toyota has communicated its goal of becoming the largest automaker in the world surpassing the giant General Motors.