A tactic is an immediate strategy designed to respond to fast changing realities. Tactics are a common aspect of business and life in general that involve seizing opportunities and managing risks as they arise. They differ from strategy in that they aren't future plans but instead respond to present events and conditions. The following are illustrative examples.
MarketsA trader purchases a stock she wouldn't ordinarily buy simply because the price drops irrationally low as the result of a capitulation process.WeatherA ski resort applies steep discounts to hotel rooms based on weather forecasts that suggest several weeks of unseasonably warm temperatures.LocationsA retailer has a strategy to open 10 new locations in a given year. The plan is almost complete when a lease becomes available in a prime location. They decide to open an 11th shop to grab the prime location.
Information SecurityAn IT team disables several customer accounts when it realizes their passwords may have been leaked.EnvironmentA city bans gasoline powered cars in its city center for a day when air quality drops to dangerous levels.PricingA fashion retailer increases its price when it realizes there will be strong demand for a new product.
PromotionA restaurant chain increases its advertising budget when a particular commercial is unusually successful in driving word of mouth and sales.Supply ChainA supply chain disruption causes a fast food restaurant to run out of french fries across an entire region. They contact a wholesaler of snacks and purchase a variety of substitutes such as potato chips.
DiplomacyA protectionist government places new tariffs on a range of goods. Other countries respond with their own tariffs in a tit for tat response.CareerAn IT team experiences a period of instability as two senior resources leave just as a large project is about to launch. A junior engineer steps in to work long hours to help the team deliver to commitments. The engineer ends up doing the work of far more senior resources and gains valuable experience and reputation. Within months she is promoted.
ProjectsA vendor delivers low quality work products that cause a project to miss dates. The program management team decides to withhold milestone payments to the vendor to get the attention of the firm's management.Ethics An employee joins a new firm and finds that it has a poor ethical climate. She decides to cut and run by returning to her former employer.
NegotiationsA purchaser deploys a bogey in negotiations by claiming that it is their firm's standard to pay suppliers within 135 days of invoice. They know the seller won't be able to accept such terms and may bend on price.
Tactics
This is the complete list of articles we have written about tactics.
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An overview of situations with examples.
A definition of strategy vs tactics with two examples.
An extensive list of business strategies.
A reasonably comprehensive guide to strategy.
The difference between a baseline and a benchmark.
A few sources of competitive advantage for businesses.
A list of macro environment components.
The difference between competitive advantage and distinctive capability.
An overview of a common business strategy.
A definition of restructuring with examples.
A list of common business risks.
The four things that can be done about risk.
A metric for measuring risk management.
The potential that you'll achieve too much of a good thing.
Any risk that people have a strong aversion too.
The definition of risk taking with examples.
A list of risk examples by type.
The two main factors in modeling a risk.
A definition of calculated risk with an example.
How to calculate relative risk with examples.
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