Glossary

In this glossary, you will find definitions and explanations of terms used in the context of our focusMT modules. Unless otherwise stated, the definitions have either been generated by ChatGPT or represent our own interpretation of the terms.

Action

An action refers to a targeted activity or approach to achieve a specific objective. It includes an assignment, a responsible person, and a deadline.

Admin

Admin is a user of focusMT who has full access rights.

Balanced Scorecard

The Balanced Scorecard was developed by Robert Kaplan and David Norton and serves as a holistic management tool. It considers business objectives from four perspectives:

  1. Financial perspective – revenue, profit, costs.
  2. Customer perspective – customer satisfaction, market share.
  3. Process perspective – efficiency of internal processes.
  4. Learning and growth perspective – employee development, innovation.

The BSC helps companies assess their strategy not only from a financial but also from an operational and customer-focused perspective.

Breakthrough Objective

A breakthrough objective is a strategic, long-term goal (3–5 years) that is intended to bring about significant progress or change within a company or organisation. It supports the company’s vision and mission and is crucial to the success of an initiative.

focusMT

focusMT is a cloud-based software platform that supports and makes transparent the process of strategy development and implementation.

Goal

A goal is a statement about a desirable state (target state) or a specific outcome that is to be achieved through intentional action within a given timeframe.

Goal Review

A goal review is a systematic assessment of goals. It analyses whether the defined goals have been achieved, what progress has been made, and what adjustments are needed to optimise goal achievement.

Guiding Principles

In focusMT, the guiding principles consist of the purpose, vision, mission, and values of an organisation.

Harvey Balls

Harvey Balls are circular symbols used to visually represent qualitative data. They help make information quickly understandable and are often used in comparison tables. They consist of circles that are partially filled, with the degree of filling indicating how well a criterion is met. They are especially useful for qualitative evaluations, such as usability or safety. Harvey Balls were introduced in the 1970s by Harvey Poppel and are now widely used in the business world.

Hoshin Kanri

Hoshin Kanri originates from Japan and means “direction control”. It is a method for long-term strategy development and implementation that ensures a company’s goals are clearly defined and applied across all levels. The process involves:

  • Defining an overarching strategy.
  • Communicating and aligning the strategy with employees.
  • Continuously reviewing and adjusting progress.

Key Performance Indicator (KPI)

A Key Performance Indicator (KPI) is a metric that measures the long-term progress or success of a company, department, or process. KPIs help monitor strategic objectives and support data-driven decision-making. Key characteristics of KPIs:

  • Measurability: KPIs are quantifiable and allow for objective evaluation.
  • Relevance: They are directly linked to company goals.
  • Comparability: KPIs allow comparisons over time or between units.
  • Timeliness: They should be regularly reviewed and updated.
  • Durability: KPIs are tracked for more than one year.

Key Results (KR)

Key Results are measurable outcomes that indicate whether a goal is being achieved. They relate only to the specific objective.

Management by Objectives (MBO)

Management by Objectives (MBO) was developed by Peter Drucker and is based on the idea that managers and employees jointly define clear, measurable goals. MBO helps companies embed strategy at all levels and increase employee motivation. The method promotes:

  • Goal agreements between managers and employees.
  • Employee responsibility for achieving goals.
  • Regular progress reviews.
  • Reward systems linked to goal achievement.

Monitoring

Monitoring is the observation of processes. It is a generic term for all types of systematic recording, measuring or observing of a process using technical tools or other observation systems.

Objectives & Key Results (OKR)

OKR (Objectives and Key Results) is an agile goal-setting method that helps companies adapt quickly to changing circumstances. It has been popularised by companies like Google. It is based on clearly defined, ambitious, and qualitative objectives and measurable outcomes.

Organisation

An organisation is a structured, formal entity such as a business, public authority, or association where people work together to accomplish tasks and achieve shared goals. Characteristics of an organisation include:

  • Goal-oriented: Organisations pursue specific goals.
  • Structured: They have defined hierarchies and processes.
  • Durable: Organisations exist over an extended period.
  • Coordinated: Collaboration and communication are essential.

Organisational Structure

Organisational structure describes the structure and process organisation of a company or institution. It defines how tasks, responsibilities and communication paths are distributed within the organisation. A well-designed organisational structure ensures efficiency, transparency, and clear decision-making. It determines how organisational units interact and how decisions are made. Characteristics include:

  • Hierarchy: Who reports to whom? What decision-making powers exist?
  • Functional division: Departments such as marketing, sales, production.
  • Processes: How are tasks and information passed on?
  • Flexibility: Ability to adapt to market changes.

Organisational Unit

An organisational unit is the smallest functional entity within an organisation. It can be a department, team or individual position. Organisational units are often hierarchical and have specific areas of responsibility. Examples include: departments (HR, IT, finance), teams (project groups, research teams), hierarchical units (business divisions, subsidiaries).

Project

A project is a one-off initiative with a defined start and end, characterised by a limited timeframe, uniqueness, complexity, and novelty. It requires specific organisation and is often managed using project management methods.

SMART

SMART is a proven concept for formulating goals to ensure they are clearly defined, achievable, and measurable.
The SMART acronym stands for:

  • Specific – The goal must be clearly and precisely formulated.
  • Measurable – There must be clear criteria for tracking progress.
  • Achievable – The goal should be motivating and attainable.
  • Relevant – It should be meaningful and feasible in context.
  • Time-bound – A clear deadline for goal achievement is required.

Strategy

Strategy refers to the overarching, long-term approach of a company or its key units in relation to their environment, with the aim of achieving long-term objectives.

SWOT Analysis

A SWOT analysis is a strategic planning method that helps companies and organisations assess their current situation and develop future strategies. The acronym stands for four key aspects:

  • Strengths – Internal advantages and competitive strengths.
  • Weaknesses – Internal challenges or shortcomings.
  • Opportunities – External possibilities for improvement or expansion.
  • Threats – External dangers or challenges.

The SWOT analysis is often used in corporate strategy, marketing, and personal development to make informed decisions. It helps to leverage strengths, reduce weaknesses, seize opportunities, and avoid risks.

Tenant

A tenant refers to an instance of software or a cloud service used by an organisation or user. In cloud environments, a tenant is a self-contained environment with its own settings, users, and data. Each company or organisation has its own tenant, which is separated from others. In simple terms: a tenant is like a digital flat in the cloud – your own separate environment to work in.

A trend in economics describes a long-term and sustainable shift within an economic development or market. Trends can be observed in various areas such as consumer behaviour, technology, financial markets, or the workplace.

User

A user is someone who uses focusMT with restricted access rights.

Values

Values are deeply rooted and meaningful beliefs, attitudes, ideals, virtues, norms, and needs. They are typically shared by members of a society over an indefinite period. Values contribute significantly to a person's character, identity, and culture. We understand and orient ourselves in the world through values.
Source: ethika Online-Lexikon (ethik-unterrichten.de)