Definition:
Big hairy audacious goal, or BHAG, refers to a clear and compelling target for a company to strive for. The term was coined within the book “Built to Last: successful Habits of Visionary Companies” by Jim Collins and jerry Porras. A BHAG – pronounced “bee hag” – is a long-term goal that everybody in a company will understand and rally behind. BHAGs are meant to excite and energize folks in a method that quarterly targets and lengthy missions statements usually fail to.
Further Reading:
Book: Good to Great by Jim Collins.