Distinguish between Strategic Planning and Tactical Planning - Leaving Cert Business - Question 6 - 2008

Strategic Planning involves a long-term approach to achieving organizational goals. It emphasizes growth and improvements within the organization and is typically crafted by top management. An example of strategic planning could be a company's decision to enter foreign markets to diversify its product offerings and increase market share.

On the other hand, Tactical Planning is focused on short-term, specific actions that support the strategic plan. It tends to address particular functions within the business and is usually developed by senior management. An example of tactical planning is launching a new advertising campaign to boost sales for a particular product.