Mgt521 Week Six Team Reflection
Learning Team B Weekly Reflection: Week Six University of Phoenix MGT/521 Management Learning Team B Weekly Reflections: Week Six
Performing a business analysis is essential to understanding the current state of an organization as well as the external factors that will affect the business in the future. Using this information to develop strategies and tactics is important in order for a business to take advantage of potential opportunities and limit effects of potential and current threats. The objectives for week 6 were to perform business analyses and differentiate between strategy and tactics. Through team discussion, we found we had similar experiences with our business analyses and a better understanding of the different aspects, challenges, and factors involved in performing and analysis. Team B also reviewed and discussed business strategies versus tactics.
Comfortable Objectives As a team, there were clear comprehensions on differentiating between strategy and tactics. According to Youngwirth (2005), a strategy looks at "the big picture" of a situation and provides the direction in which to proceed; however, it does not tell you how to proceed. A tactic tells you how your strategy "will play out". Another way to look at developing strategies is to set your goals first, then your develop strategies, then tactics. A strategy is an idea, a "conceptualization of how a goal can be achieved" and a tactic is the "action you take to execute the strategy" (Furgurson, 2008). Challenging Objectives Performing business analyses was collectively challenging... Objectives Application
Through team discussion, we have shared and learned…
Conclusion In closing,… References Akan, O., Allen, R. S., Helms, M. M., & Spralls, S. A., I. (2006).
Performing a business analysis is essential to understanding the current state of an organization as well as the external factors that will affect the business in the future. Using this information to develop strategies and tactics is important in order for a business to take advantage of potential opportunities and limit effects of potential and current threats. The objectives for week 6 were to perform business analyses and differentiate between strategy and tactics. Through team discussion, we found we had similar experiences with our business analyses and a better understanding of the different aspects, challenges, and factors involved in performing and analysis. Team B also reviewed and discussed business strategies versus tactics.
Comfortable Objectives As a team, there were clear comprehensions on differentiating between strategy and tactics. According to Youngwirth (2005), a strategy looks at "the big picture" of a situation and provides the direction in which to proceed; however, it does not tell you how to proceed. A tactic tells you how your strategy "will play out". Another way to look at developing strategies is to set your goals first, then your develop strategies, then tactics. A strategy is an idea, a "conceptualization of how a goal can be achieved" and a tactic is the "action you take to execute the strategy" (Furgurson, 2008). Challenging Objectives Performing business analyses was collectively challenging... Objectives Application
Through team discussion, we have shared and learned…
Conclusion In closing,… References Akan, O., Allen, R. S., Helms, M. M., & Spralls, S. A., I. (2006).
References: Akan, O., Allen, R. S., Helms, M. M., & Spralls, S. A., I. (2006). Critical tactics for implementing porter 's generic strategies. The Journal of Business Strategy, 27(1), 43-43-53. Retrieved from http://search.proquest.com/docview/202677660?accountid=35812 Bach, David. David Bach on "non-market" strategy (AUDIO) . The Economist. http://www.economist.com.ezproxy.apollolibrary.com/audiovideo?fr_story=4191fd1998d9b258add18488dc2fffad64fc3e05&rf=bm Furgurson, J. (2009, Nov. 1). Marketing strategy vs. marketing tactics. Brand Insight Blog. Retrieved from http://www.brandinsightblog.com/2009/11/01/marketing-strategy-vs- tactics/ Nickels, W. G., McHugh, J. M., & McHugh, S. M. (2010). Understanding business (9th ed.). New York, NY: McGraw-Hill/Irwin. Youngwirth , Joni. (2005) "Right strategies plus right tactics equals success." Investment News 21 Mar. 2005: 37. General OneFile. Web. 3 Sep. 2011. http://go.galegroup.com.ezproxy.apollolibrary.com/ps/i.do?&id=GALE%7CA13086382&v=2.1&u=apollo&it=r&p=ITOF&sw=w