Greg Githens relates his advice to a CEO determined to succeed at a strategic initiative: recruit a capable program manager. Well-crafted, useful business objectives also share common characteristics. Strategic initiatives with defined objective linkages, scopes, descriptions, dates, and deliverables are an excellent start to clearly understanding your strategic project. */, {% set textColor = "#565656" %} /* This sets the universal color of dark text on the site */, {% set pageCenter = "1100px" %} /* This sets the width of the website */, {% set headerType = "fixed" %} /* To make this a fixed header, change the value to "fixed" - otherwise, set it to "static" */, {% set lightGreyColor = "#f7f7f7" %} /* This affects all grey background sections */, {% set baseFontWeight = "normal" %} /* More than likely, you will use one of these values (higher = bolder): 300, 400, 700, 900 */, {% set headerFontWeight = "normal" %} /* For Headers; More than likely, you will use one of these values (higher = bolder): 300, 400, 700, 900 */, {% set buttonRadius = '10px' %} /* "0" for square edges, "10px" for rounded edges, "40px" for pill shape; This will change all buttons */. It may deliver a service or product that is at a lower price, differentiated and mainly concentrates on a demanding market section, or which is innovative. They may be part of a company’s executive leadership team or … Choosing Strategic Initiatives. The CFO should then help business leaders convert these insights into specific action items and initiatives. Which resources do we need in order to accomplish this project on time? Post 4 of 4 in the Nimble Organization series . Strategic initiatives, on the other hand, focus on change. It is required only if there is a real need for it. Typical questions to be asked are: Only if a proposed initiative can satisfy the four criteria above can it be considered for implementation. However, because performance is always. The logic behind how this initiative supports the objective may seem intuitive, but it should regardless be clearly expressed in the initiative definition. A strategic initiative must directly and effectively serve, and is crucial to, the achievement of the relevant Strategic Objective. It is at this critical point that strategic implementation work begins. Measurable: Strategic goals and objectives should be measurable so you can track success. – Relevant, Impactful, Distinct, Executable. hbspt.cta._relativeUrls=true;hbspt.cta.load(2256723, 'c21a3602-7842-4fc8-ba3a-c4054f9e25cb', {}); Strategic Initiatives have a defined scope. In a previous post, I defined a nimble organization as one that has a sustained ability to quickly and effectively respond to the demands of change while continually delivering high performance. It is a new project that the organization is going to embark on to align employee incentives and increase employee satisfaction. In the next article we will talk about detailed implementation planning for the initiatives. Your second-liners then delegated the task of identifying strategic initiatives to the middle management. You may need to import it above. Strategic growth platforms are longer-term initiatives for high-scale revenue increases. An example of a Learning and Growth Objective might say something like, “Align Incentives and Rewards with Employee Roles for Increased Employee Satisfaction.”. It makes them sound like they are projects (or programs), which can be managed with formal and rigid process. Topics: {% set baseFontFamily = "Open Sans" %} /* Add the font family you wish to use. Our clients are found in a variety of settings: colleges and universities, associations and professional societies, technology companies, entrepreneurial ventures, and government/non-profit enterprises. Copyright Profess Consulting Group. Four key words can be used to sum up the desired characteristics of effective strategic initiatives: R.I.D.E. 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