{"id":42008,"date":"2020-11-30T13:13:09","date_gmt":"2020-11-30T18:13:09","guid":{"rendered":"https:\/\/balancedscorecard.org\/staging\/?p=42008"},"modified":"2020-11-30T13:36:37","modified_gmt":"2020-11-30T18:36:37","slug":"the-abcs-of-strategy","status":"publish","type":"post","link":"https:\/\/balancedscorecard.org\/staging\/blog\/the-abcs-of-strategy\/","title":{"rendered":"The ABCs of Strategy"},"content":{"rendered":"\n[et_pb_section fb_built=”1″ _builder_version=”3.22.3″][et_pb_row _builder_version=”3.25″ background_size=”initial” background_position=”top_left” background_repeat=”repeat”][et_pb_column type=”4_4″ _builder_version=”3.25″ custom_padding=”|||” custom_padding__hover=”|||”][et_pb_text _builder_version=”4.6.6″ hover_enabled=”0″ sticky_enabled=”0″]

\"ABCsIf your organization is serious about strategy, a basic foundational level of understanding of the phrases associated with and utilized by your organization concerning strategic elements must be established. Because no universal agreement exists in the world of strategy as to the exact meaning(s) of words, we often find a single word has multiple meanings within an organization. This causes confusion and can lead to miscommunication which can hamper your strategy development, strategy implementation and strategy execution.<\/p>\n

As children, we all learned our ABC\u2019s at a fairly young age. This achievement was necessary as it formed the foundation of our communication skills in being able to read and write. Likewise, I am suggesting the following list of words should be defined in your organization, if utilized, regarding what they specifically mean in reference to your strategy process. This is not an all-encompassing list but are words we have heard often in working with over 200 clients over the past 20 years. Balanced Scorecard Institute definitions of most of these terms can be found in The Institute Way<\/em><\/u><\/a>,<\/em> but an important takeaway is for your organization to develop its own glossary of strategic terms with your own customized definitions, so there is no question as to what is meant when using the various terms in strategic communication within your organization.<\/p>\n

A<\/strong><\/span> \u2013 Assess, Alert, Analysis, Action Plan, Alignment<\/p>\n

B <\/strong><\/span>\u2013 Balanced Scorecard, Brand, Benchmarking, Budget, Business Plan, Blue Ocean, Baseline, Buy-in, BHAG<\/p>\n

C<\/strong><\/span> \u2013 Customer Perspective, Customer Value Proposition, Cascading, Cause and Effect, Culture, Communication Plan, Change Management, Critical Success Factor, Customer-Facing Operations, Collaboration, Cross-functional Teams, Cultural Competence, Challenges, Composite Measure, Criteria Selection, Champion, Continuous Improvement, Competitive Advantage, Core Competency<\/p>\n

D<\/strong><\/span> \u2013 Dashboards, Drill-Down, Data Definition Tables, Data, Data Points, Data Normalization<\/p>\n

E<\/strong><\/span> \u2013 Effective, Efficient, Economic Value Added (EVA), Environmental Scan, Evaluation, Enabler, Evaluation<\/p>\n

F <\/strong><\/span> \u2013 Financial Perspective, Facts, Forecast, Focus Area<\/p>\n

G<\/strong><\/span> \u2013 Goals, Goal Diagram, Gap Analysis, Governance<\/p>\n

H<\/strong><\/span> \u2013 High Energy, Human Capital, Hedgehog<\/p>\n

I<\/strong><\/span> \u2013 Internal Process Perspective, Initiatives, Inputs, Initiative Management, Ishikawa Diagram, Intermediate Outcomes, Index, Intended Results, Incentives<\/p>\n

J<\/strong><\/span> \u2013 Journey<\/p>\n

K<\/strong><\/span> \u2013 Key Performance Indicator (KPI)<\/p>\n

L<\/strong><\/span> \u2013 Leading Indicator, Lagging Indicator, Leverage, Learning & Growth Perspective, Logic Model, Lower Limit<\/p>\n

M<\/strong><\/span> \u2013 Mission, Measure, Metric, Milestone, Malcom Baldridge, Meeting Cadences, Micro-environment, Macro-environment, Market Segmentation, Motivation<\/p>\n

N<\/strong><\/span> \u2013 Needs, Needs Assessment<\/p>\n

O<\/strong><\/span> \u2013 Outcomes, Outputs, Opportunities, Objectives, Organizational Alignment, Operational Alignment, Operational Reviews, Operational, Organizational Capacity Perspective, Objectives & Key Results (OKRs), Outsourcing, Opportunities, Organizational Assessment, Objective Commentary, Objective Description, Objective Owner, Objective Owner Team<\/p>\n

P <\/strong><\/span> \u2013 Performance, Performance Reviews, Performance Analysis, Performance-Based Budgeting, Performance Gap, Perspectives, Prioritization, Process Flow Diagram, Program Assessment Rating Tool, Project Management, Project, PESTEL, Paired Comparisons, Porter\u2019s Five Forces, PIGs<\/p>\n

Q<\/strong><\/span> \u2013 Quantitative, Qualitative<\/p>\n

R<\/strong><\/span> \u2013 Review, Red Ocean, Readiness Score, Risk Measures, Risk Management, Risk, Rollout<\/p>\n

S<\/strong><\/span> \u2013 Strengths, Strategy, Strategy Profile, Strategy Canvas, Strategic Maturity Model, Scorecard, Six Sigma, Strategic Management System, Strategy Map, Strategic Plan, Strategic Theme, Scenario Planning, Stakeholders, Strategic Altitude, SMART Goal, Strengths, SWOT Analysis, STEEPLE, Strategy Graphic, Stretch Target, Senior Management Team, Sprint<\/p>\n

T<\/strong><\/span> \u2013 Threats, Target, Threshold, Tactical, Task, 2 X 2 Matrix, Tiers, Theme Teams<\/p>\n

U <\/strong><\/span> \u2013 Unity, Upper Limit<\/p>\n

V<\/strong><\/span> \u2013 Vision, Value Chain, Value Proposition<\/p>\n

W<\/strong><\/span> \u2013 Wisdom, Weasel Words, Work Plans, Weights, Weaknesses, WIIFM, WIGs<\/p>\n

X<\/strong><\/span> \u2013 XmR Charts<\/p>\n

Y<\/strong><\/span> \u2013 Yield<\/p>\n

Z<\/strong><\/span> \u2013 Zero Latency, Zero-based Budgeting<\/p>\n

 <\/p>\n

Need help in developing your strategic glossary or in developing a holistic approach to strategy management? Contact us via <\/span>email<\/a> or +1-919-460-8180.<\/span><\/p>\n[\/et_pb_text][\/et_pb_column][\/et_pb_row][\/et_pb_section]\n","protected":false},"excerpt":{"rendered":"

If your organization is serious about strategy, its own glossary of strategic terms associated with and utilized by your organization concerning strategic elements must be established.<\/p>\n","protected":false},"author":13,"featured_media":42019,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"on","_et_pb_old_content":"","_et_gb_content_width":"","content-type":"","footnotes":"","_links_to":"","_links_to_target":""},"categories":[1791,1],"tags":[25,23],"class_list":["post-42008","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-blog","category-uncategorized","tag-strategic-planning","tag-strategy"],"yoast_head":"\nThe ABCs of Strategy - Balanced Scorecard Institute<\/title>\n<meta name=\"description\" content=\"If your organization is serious about strategy, its own glossary of strategic terms associated with and utilized by your organization concerning strategic 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