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Glossary of Terms

Below is a list of terms commonly used in strategic planning. There are many sources that contain these definitions. Florida Tech uses the following definitions.

Core Values: Florida Tech’s fundamental beliefs and priorities that drive our mission.

Focus Area: A broad initiative in which Florida Tech will prioritize over the next five years.

Key Performance Indicators (KPIs): Metrics set by Florida Tech to track our progress towards our goals.

Metrics: Track Florida Tech’s performance on specific process(es) based on an industry standard, threshold, or benchmark.

Mission: A short explanation of why Florida Tech exists, our overall goal, and what we provide.

Outcome: A statement that identifies “what” we are going to do.

Strategic Plan: A dynamic, living roadmap that outlines Florida Tech’s future goals and the steps necessary to achieve them.

Tactic: A specific task that begins with an action verb and an object that identifies “how” we are going to do it.

Target: A numerical value to aim towards within a given time frame.

Vision: A high-level, inspirational statement of the ideal Florida Tech.

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