clipped from: en.wikipedia.org proposed by James Collins and Jerry Porras in their 1996 article entitled Building Your Company's Vision. A BHAG (BEE-hag) is a form of vision statement "...an audacious 10-to-30-year goal to progress towards an envisioned future."
"A true BHAG is clear and compelling, serves as unifying focal point of effort, and acts as a clear catalyst for team spirit. It has a clear finish line, so the organization can know when it has achieved the goal; people like to shoot for finish lines." (Collins and Porras, 1996).
Collins and Porras also used this concept in their book Built to Last: Successful Habits of Visionary Companies.
In this book they have taken 18 visionary companies and studied them, and also studied 18 comparison companies.