GLOSSARY

Strategic Planning Foundations

With Mike Figliuolo

Use these terms and definitions below to understand concepts taught in the course.

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Term Definition

strategic plan A strategic plan defines what your organization stands for. It defines the
market where you compete and how you compete in that market, as
well as the goals and initiatives you’re going to pursue.

SWOT analysis Strengths, Weaknesses, Opportunities, and Threats analysis.

A tool used to assess the market you’re competing in, typically drawn
on a grid.

mission Statement that articulates why your organization exists, and should be a
cultural reflection of the values, beliefs, and philosophy of the
organization.

guiding principles Principles that dictate how you want your organization to behave,
especially when leaders aren’t present. Associates can use guiding
principles when they’re confronted with a situation where they don’t
know what to do.

core competency Something your organization is great at. For example, the quality of
your product, your ability to innovate, the efficiency of your supply
chain, the strength of your brands, or your technology infrastructure.

strategic filters A tool to help you evaluate the initiatives you’ve identified to achieve
your vision. Strategic filters are based on objective functions of your
organization and the goals you find to be important.

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