Glossary of Terms
Statement of Mission (This is who we are)
UM’s fundamental reasons for existence; not to be confused with specific goals, vision, or operating strategies.
Vision Statement (This is where we are going)
An attainable destination point that is 5‐10 years away that provides direction for the University and provides a framework for future choices.
Core Values (This is what we stand for)
The ethical, moral, and social basis of how UM will move toward its vision. The values of the University should be widely accepted and govern conduct.
Priorities for Excellence (What we hope to accomplish)
The university‐wide goals or core institutional commitments that define UM’s desired outcomes for a 10‐year period that are required to achieve the vision. (formerly called UM’s vision 8 goals).
Strategic Objectives & Actions/Initiatives (This is what we are going to do)
Strategic actions/initiatives are specific and action‐oriented and, if fulfilled, will support UM in achieving its vision. Strategic objectives are developed to group similar initiatives that align with one or more of the UM’s Priorities for Excellence.
Campus master plan
Long range plan for the use and maintenance of existing facilities, as well as for the development of new infrastructure.
Fundraising campaign that raises money for capital projects, endowments and current needs.
Systems, resources or policies that must exist in order for an organization to accomplish a strategic initiative. Enabling infrastructure may consist of buildings, transportation, technology, people, or funding.
Flagship 2020 Goals
The Flagship 2020 Goals are the bold ideas that emerged from the strategic planning process that tie together the diverse objectives and initiatives included in the UM 2020 Strategic Plan.
Key Performance Indicators (KPIs)
Quantifiable and comparable pieces of information that will allow the University, as well as individual departments and administrative units, to measure and improve operations.
The planning principles represent common concerns that cut across all of the Priorities of Excellence. The working groups included these concepts in their work and the plans they created for each priority. Ongoing university and unit-level planning will be developed in alignment with these priorities as well.
An assessment of the Strengths, Weaknesses, Opportunities and Threats that an organization must consider when making strategic decisions. Often placed on a grid, with Strengths and Weaknesses being internal factors related to the institution and Opportunities and Threats being external factors related to the competitive environment.
Using the guidelines laid out in the UM 2020 Strategic Plan, each individual department and administrative unit will develop their own strategic plan to guide its actions over the next 10 years.