What are the means by which an organization achieves its objectives called?

The means by which an organization achieves its objectives are referred to as grand strategies. These strategies are comprehensive plans designed to achieve the overall goals of the organization, guiding decision-making and resource allocation. They encompass various aspects of the organization’s approach to market positioning, competitive advantage, and growth, such as expansion, differentiation, or diversification.

Grand strategies play a crucial role in setting the direction for an organization's operations and align various functional areas to work towards common objectives. By utilizing these strategies, an organization can effectively position itself in the marketplace and respond to both opportunities and challenges.

In contrast, functional tactics focus on the specific actions and processes within departments that support the higher-level strategies but do not alone encapsulate the broader approach. Long-term objectives are specific goals aimed to be achieved over an extended period but do not describe the means to achieve them. The company mission defines the organization’s purpose and primary objectives but is not a strategy for achieving those objectives. Thus, grand strategies effectively represent the comprehensive approach organizations take to meet their overarching goals.