Vision
A description of the reality you expect to create.

Mission
What you are here to do and your unique approach to the business you are in. [Mission/Vision Example]

Values
Abstract qualities that you prize.

Goals
3-5 critical competencies the organization must have to achieve its vision, values and mission.

Measurable Objectives
A few big, key indicators or measures that describe when/how a goal has been achieved.

Strategies
What ways (how) will you choose to accomplish your goals? (How we go about "Taking the Hill?")

Action Steps/Tactics

Specific steps to be taken to implement the strategies. Each action step will be assigned an individual who is responsible and a start and completion date.

Definitions provided by Susan Smyth, Smyth Management Resources.