The Purpose of a Strategic Initiative
A Strategic Initiative is an investment of resources dedicated to accomplish an organizational aspiration. It is based on an analysis of the market to determine long-term opportunities & threats, and short term impact on the businesses strengths & weaknesses. It needs to provide enough information to create goals (results) and objectives (activities) required to execute the Initiative.
View Strategic Initiatives as Aspirations
What a Strategic Initiative Should Contain
IBGR Strategic Initiative 1
SI#1: IBGR is the Number 1 global source for business owners providing tools for small business growth by the end of 2020 with .1% of global (English as a first language) business owners in the audience spending 2 hours a week listening to live shows or podcasts.
The Purpose of a Business Goal
Business Goals are based on identified Strategic Initiatives to clarify intended results, serve as the basis of Business Objectives, and provide the backbone of a yearly Strategic Plan.
View Business Goals as aspirations turned into Results and forms the basis of Management's Scorecards.
What a Business Goal Should Contain
IBGR Strategic Goal 1.1
BG#1.1 IBGR will build a subscriber base (both free and fee) of small business owners by the end of 2020 with the balance of communication between IBGR and subscribers at 50% (45-55%) between outreach and requests, and 20% of subscribers for fee.
The Purpose of a Business Objectives
Business Objectives are based on Business Goals to detail activities required to achieve results and provide the implementation steps of a yearly Strategic Plan.
View Business Objectives as results turned into Activities and forms the basis of Employee Dashboards.
What a Business Object Should Contain
IBGR Business Objective 1.1.1
BO#1.1.1: IBGR will build a membership site (standalone or extension of current website) for small business owners by the end of QTR2 that creates programming for QTR3 with 20% of members responding.
Next Show: A.014 Converting Goals Into Business Objectives
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