[53] in iswork
Strategic Planning Glossary (vintage 1998)
daemon@ATHENA.MIT.EDU (Tim McGovern)
Wed Apr 26 09:35:49 2000
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Date: Wed, 26 Apr 2000 09:35:40 -0400
From: Tim McGovern <tjm@MIT.EDU>
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CC: dania@mit.edu, iswork@mit.edu
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Kris, Robyn: apropos of our discussion yesterday, I found the following
glossary on the sextant locker web site: http://web/sextant/www/glos1015.html.
Dani: do you know of later versions of this glossary that we could use
in our ISWORK project?
Tim
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Draft Glossary of Five Year Planning
Terms
<BR>(last edit on 10/14/1998)
<P><B>Vision</B>: A statement about a desired future state.
Includes the perspectives of key stakeholders.
<DL><B>Values</B>: Represent the philosophical convictions of those who
guide the organization about what is right. Could be related to ethics,
safety, customers, employees, quality, etc.</DL>
<B>Mission</B>: A statement about the purpose served by an organization.
It includes the business you are in, the customers you serve, your products
and services, and the values under which you operate. (a.k.a. Purpose)
<P><B>Purpose</B>: The reason for which something exists, or is done.
An intended or desired result, aim or goal.
<P><B>Strategy</B>: Generally speaking, the direction in which an organization
should be heading. It describes a future position, i.e. what the
organization will have or become. Includes driving forces and major
factors, which help determine future products, services or customers.
(a.k.a. strategic direction, strategic theme)
<P>The function of a strategy is to translate the mission into statements
of critical success drivers, which can be further broken down into meaningful,
measurable objectives.
<P><B>Strategic Plan</B>: A tool, which informs operational decision, making;
sometimes thought of as a detailed vision statement.
<P><B>Initiative</B>: Major blocks of effort to implement stated strategy.
Often requires cross-functional effort and is incremental in nature.
(a.k.a. strategic initiative)
<P><B>Goal</B>: Measurable results to be accomplished within a time span.
Part of an overall plan. A specific desired metric or condition to be achieved.
(a.k.a. targets, objectives, performance objectives)
<P><B>Target</B>: A goal to be reached.
<P><B>Indicators</B>: Measurable factors on which goals may be set. (a.k.a.
metric, measure, strategic measure)
<P><B>Metric</B>: A standard of measurement.
<P><B>Measure</B>: A quantifiable indicator of progress toward a goal or
desired outcome.
<P><B>Perspectives</B>: Four or more domains of the Balanced Scorecard
framework, viz., financial, customer, internal business process, plus learning
and growth. Strategic initiatives and goals are developed for each
perspective.
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