Remember to provide a simple example for each type of planning within your response. Keep your answer short, but be sure to clearly demonstrate that you understand how to properly apply the concept.

"The difference between tactical and strategic planning lies in the focus and the time frame for each. Strategic planning focuses on long-term plans that define the broad goals and key objectives of a project. For example, a business may develop a strategic plan to reduce their operating costs by 20% over the course of a year.

Strategic plans are multi-faceted and require a number of specific actions in order to achieve the desired results. Tactical plans are the short-term action-oriented steps that are taken to achieve the defined goals. Given the previous operating cost reduction goal I provided, a tactical aspect of that strategic plan would be the steps involved to replace the current office supply vendor with a lower cost option."