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Glossary of Key Terms

Term      

Definition

Advantage

The customer value proposition and the unique activities that allow the organization alone to deliver it

Customer Value Proposition

The product, service, or combination of the two that helps more effectively, reliably, conveniently or affordably solve an important problem or satisfy a job-to-be-done at a given price

Disruptive Innovation

An innovation that creates a new market by applying a different set of values, which ultimately (and unexpectedly) overtakes an existing market

Lever

One or more activities that support a theme (e.g. recruit STEM students)

Objective

A single precise result to be achieved; it is specific, measurable and time bound

Projects

The tasks assigned to specific teams/people to explore the value and process of implementing a specific lever or activity within a lever

Scope

A detailed description of the customer to be reached and the product or service being offering to the customer

Strategy

A strategy is a plan for organizing finite resources to achieve a specific objective

Strategy Statement

A concise phrase that captures an organization’s strategy by incorporating three key elements: objective, scope, and advantage

Theme

An area of focus related to the strategy statement that can be explored further to help implement the strategy (e.g. increase enrollment)

Reviewed 2013-11-18.