ACCA SBL Syllabus C. Strategy - Vocabulary of Strategy - Notes ^{2 / 10}

Terms and Meanings

• Mission

  Main Purpose - must be in line with stakeholders' values

• Vision

  is the organisation's view of where it sees itself going in the long-term

• Goal

  A general aim

• Objective

  Quantification of a Goal

• Core Competencies

  Resources which give a competitive advantage

• Strategy

  Long term direction

• Strategic Architecture

  Combination of Resources

• Control

  Monitoring of Actions

Hierarchy of goal structure for strategy development

1. Mission

2. Vision

3. Goals

4. Objectives

5. Key Performance Indicators