Business Language Understanding
I have been in many different discussions lately on a couple of Advisory Boards I am on around definition of terms, like strategy, objectives, etc.
Here is a shot at a very basic definition for some key business terms, if you have any of your own edits or versions of the same please make a comment and let me know what they are, it would be helpful.
What is a Mission?
A mission is a statement of general purpose: the reason the organization exists. Who are we? What do we do? For whom do we do it? Why do we do it?
What is a Goal?
Goals should be directed toward a vision and consistent with the mission. Something the organization wants and expects to accomplish in the future.
What is an Objective?
An objective is a specific measurable result expected within a particular time period, consistent with a goal and strategy. A clear "milepost" along the strategically chosen path to the goal.
What is a Strategy?
The action path the organization has chosen to realize goals. Strategies establish broad themes for future actions and should reflect reasoned choices among alternative paths
Uncategorized | admin | 09 October 2006 |
