Finance:Strategic initiative

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A strategic initiative in business is an endeavor intended to achieve three interrelated outcomes:[1]

  • A boundary-spanning vision or “strategic intent”
  • Realization of important benefits to “strategic” stakeholders and
  • Transformation & alignment of the organization

A strategic initiative is not the same thing as a strategic goal, strategic objective, or a strategic vision.[1]

Alternate definitions

Strategic initiatives are the means through which a vision is translated into practice [2] Strategic initiatives are collections of finite-duration discretionary projects and programs, outside of the organization's day-to-day operational activities, that are designed to help the organization achieve its targeted performance.[3]

Importance

A number of firms have established senior management positions as Vice President, Strategic Initiatives; Director of Strategic Initiatives; and Manager of Strategic Initiatives.[4]

See also

  • Benefits Realisation Management

References

https://en.wikipedia.org/wiki/Strategic initiative was the original source. Read more.