Strategic Planning Glossary (Word DOCX)

Although strategic planning is done by businesses all around the world, the practice has surprisingly little standardization. The terminology associated with strategic planning sounds the same in most groups, but careful analysis shows little commonality in the definitions of terms from one organization to another. There is no "bible" of strategic planning from which we can definitively determine that one set of definitions is "right" and another is "wrong." More importantly, an organization needs to simply adopt some framework for strategic planning and use that framework consistently. Toward that principle, this document presents one framework for understanding strategic planning.

The document starts with a glossary of words and definitions. The next section presents additional clarifying thoughts for key terms. The document then ends with a diagram that gives a visual context to the manner in which these words interrelate.

Key terms defined in the document include mission, vision, values, goals, strategies, strategic, emergent strategies, objectives, tactics, tactical, plan, plans, strategic plan, program plan, reviews, strategic review, and performance review. Special consideration is given to distinguishing between mission and vision, between goals and objectives, and between strategies and tactics.

The visual model distinguishes between strategic planning and strategic doing and provides a context for understanding the process of management by objectives.