A bold mission statement designed to spur and stimulate progress and achievement such as “being the company no. 1 in the industry”. This involves setting challenging goals that can be achieved by those involved paying extraordinary efforts.

Big hairy audacious goal (BHAG) should possess the following features:

• Be clear and compelling.
• Act as a catalyst for team spirit.
• Have a clear finish line.
• Engage people.
• Be tangible, energizing and highly focused.
• Be easily understood by all those involved.

The BHAG needs to be stimulating, compelling and involving by bringing all parties on board as one team, getting them passionate about the goal and instilling in them a common feeling of pride and responsibility.