Glossary of Terms
Glossary of Terms
The following terms are used as part of the Strategic Leadership Initiative planning phase. The process will include providing an overview of specialized terms that are customarily used to facilitate implementation of a Balanced Scorecard including, but not limited to, strategy maps, targets and measures.

Mission Statement:     A mission statement answers the question, “Why do you exist?"

The mission is a broad statement of the roadmap to the future.  The mission is about the present.  A good mission statement should answer three questions:
  • What are you trying to accomplish?
  • Who will benefit?
  • How it will be done?
Vision Statement:    A vision statement is an ideal picture of the future.  A vision statement provides answers to the question, “What does the _________ look like in __________ years?

Core Values and Beliefs:    Values are the shared beliefs that guide our decision-making and actions.

Strategic Goals:    Goals are broad statements that define what an organization is trying to accomplish programmatically and organizationally. See www.Web-Books.com.

Outcomes:   Outcomes are the results the organization wants to achieve. They are specific, measurable, attainable, realistic and time-specific. Outcomes must be:
  • Be related directly to the goal;
  • Be clear, concise, and understandable; Be stated in terms of results; (4)
  • Begin with an action verb;
  • Specify a date for accomplishment; and
  • Be measurable. 
Strategy Map:    A Strategy Map shows how the organization creates value by converting intangible assets into tangible outcomes. A Strategy Map is aligned along four different strategic perspectives:
  • Internal Processes: What business processes must we excel at?
  • Customer: How should we appear to our customers?
  • Financial: How should we appear to our shareholders?
  • Learning & Growth: How will we sustain our ability to change and improve?
Measures:    Measures provide an analytical basis for decision-making and focusing attention on the areas of critical importance. There are a number of different types of measures including: 
  • Outcome (Lag) measures
  • Driver (Lead) measures
Targets:    Targets are the desired level of performance for the period of measurement
  • Set and communicate the expected performance level
  • Focus on improvement
  • Motivate, not control or constrain
Strategic Initiatives:   Initiatives are the activities or projects that convert strategy into operational terms and action items. They are the action steps or tactics.

Milestones:    Milestones are typically progress points along the way to achieving the larger targets.

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