Strategic planning is macro-oriented ( with an emphasis on the big picture and your long term goals and objectives, usually in 3 to 5 year increments. This type of planning guides the fundamental (i) decisions and (ii) actions that will shape the long term direction of a business and one’s personal development. It is focuses on the core of Who (are involved), What (you want to accomplish) and Why (do you want to accomplish the what) of organizations and people.
Tactical planning is micro-oriented and focused your short term S.M.A.R.T. goals, which usually have 1 to 18 month time frames. This type of short term planning is all about the How (i.e., process) of getting things doing. The focus is on operations, which includes creating and executing effective, efficient action plans. Areas that are covered in tactical planning include (i) monthly or quarterly Financial Planning, sales goal.
