Below are three initiatives that require very little resources, ... Business acumen analysis, ... starting with executive and senior leaders setting the example. I provide pragmatic advice and services to entrepreneurs and startups. Other than decreasing your business’s impact on the environment, one of the biggest benefits of implementing green initiatives is cutting costs, particularly in regards to energy consumption. Examples of strategic goals for this perspective include: 1. When selecting and creating your financial objectives, consider what you’re trying to accomplish financially within the time span of your strategic plan. Don’t do it on a Saturday—not only will you likely cripple turnout, but employees will likely not appreciate having an initiative such as this scheduled during their free time. To get your brand exposure, you have to possess some creativity. While it’s important to have pride in your work, it’s equally important to focus on other aspects of life, family included. 🙂 Check out more articles by the author, Jessica Thiefels: https://www.achievers.com/blog/author/jessica-thiefels/. With employees spending most of their time (some upwards of 50 hours a week) in the office, it should come as no surprise that HR leaders consider developing and nurturing corporate culture and employee engagement to be their number one challenge. To capture this growth, transparency and collaboration within business are crucial. Take a look at three examples of remarkable marketing initiatives that showcased innovation and originality. For us, initiatives and projects are strongly linked. Think of the Fortune 500 firm that buys out a competitor, or when a larger firm merges with a competitor to corner a young market.Example: Facebook’s Instagram acquisitionIn April 2012, Facebook changed the mobile startup scene overnight by acquiring the photo sharing startup, Instagram, for a… Set up a channel where employees can recognize one another with a timely “thanks” or “nice job” regarding recent business successes. Employees of all generations care greatly about achieving a proper Work/Life balance, making it an important part of any culture campaign. Some make big mistakes, such as Webvan expanding too fast with a huge infrastructure, and Pets.com, trying to grow the business with a negative margin, under the mistaken assumption that winning customers is more important than making a profit. 2. You might be interested in checking out this article covering 12 Ways to Improve Your Workforce’s Work-Life Balance: https://www.achievers.com/blog/12-ways-to-improve-your-workforces-work-life-balance/, Your email address will not be published. A definition of strategic business unit with several examples. 🙂 Check another fun read on 7 ways to de-stress the workplace: https://www.achievers.com/blog/2017/06/7-ways-de-stress-workplace/. You are probably familiar with popular health hashtags such as: #Healthyisthenewskinny and #progressnotperfection. Luckily, you don’t have to reinvent the wheel to improve company culture. In short, business initiatives are the result of strategic planning sessions. The circular economy could unlock $4.5trn in economic growth. It should include the following components: Examples include: When giving constructive criticism or performance feedback, always give “compliment sandwiches” (compliment, criticism, compliment), assign work based on people’s strengths to set everyone up for success, exhibit small acts of kindness like holding the door open for coworkers, etc. The friendly competition will encourage camaraderie and morale among employees while emphasizing greater personal health through competition. Any team at your business can sneak a peek at this roadmap to understand how the rest of the organization will participate in “biz dev” and thus, plan their initiatives accordingly. Set a sleep goal for employees and have them track their sleep over a period of time to earn rewards like gift cards, merchandise or PTO. The circular economy: Enabling the transformation to circular business. Flexible work hours: Instead of limiting office attendance to the standard 9-to-5, allow employees to work when and how they can personally be most productive, whether that means coming in and leaving early, or working through the night. Whether it’s through building and implementing strategy, or one of our transformative leadership programs, or one-on-one coaching; expect an energized, accountable and ready-for-action team at the end of any engagement with us. Share your comments below. Competitive industries – for example the travel industry – use strategic initiatives to create competitive advantage. Thank you for reading and sharing your comment, Rob! Financial objectives are typically written as financial goals. There should be no initiative without projects, and also we aim not to have too many projects that are not directly contributing to an initiative. As mentioned earlier, BSR and Futerra are actively hoping to build up examples of successful case studies that can be added to this tool over time. One way to bring more kindness, respect, and empathy into the workplace is with a company initiative focused in kindness. Title: Business Mapping Application Development Strategy (ongoing) Contact: Alex Wood (Precision Geographic Inc.) Desired Project Timeframe: Q1-4 2015 . Employees will feel better and they’ll love telling people they have “sleep goals” for work. We see initiatives as the bridge between the company mission and everyday operations. They represent the path through which we achieve our targeted performance. The size of the companies contributing ideas doesn't really matter. Pets. Companies often don’t realize that healthy employees lead to happier ones! ... 8 Initiatives To Increase Your Business Growth Curve. As long as they are performing up to expectations and making themselves available for meetings and other requests from colleagues, allow them the flexibility to manage their own schedules. Another example of adding value is motivating others within a work group to reach team goals. EY & Citi On The Importance Of Resilience And Innovation, Impact 50: Investors Seeking Profit — And Pushing For Change, Michigan Economic Development Corporation BrandVoice, Subscribe Now: Forbes Entrepreneurs & Small Business Newsletters. Many companies do this in the summer, when people tend to go on more weekend escapes. Describe the problem, condition or observation that inspired this proposal. That is amazing to hear. An entrepreneur who has struggled to fund and build a dream solution may think they can relax when the first wave of customers come in. Shadow initiatives give everyone a chance to understand the roles of their collegues and see how their two positions can work together to achieve even better results. In the aforementioned Communispace study, 49 percent of millennials reported work-life balance as an important part of their health and wellness, followed by relationships with friends and family (47 percent). For example, in March, members of the marketing team will shadow whomever they want. With that in mind, here are a few modern company initiatives focused on health to try: According to a 3-month Communispace study. I am the Founder and CEO of Startup Professionals, a company that provides services to startup founders around the world. To ensure a tangible element for this type of recognition, employers can also create a wall of fame to post photos of these high performing employees. Join our mailing list so you never miss a post. Value can b… For many, writing a business plan can seem intimidating; however, with … If you decide to replicate an initiative, define a model based on core principles and ensure that leadership and mentorship are readily available. Cheers! Reward employees who volunteer on their own time with “free” half-days. Feel free to Circle me on Google+. One very common business strategy is for larger firms to gain a stronghold in a growing market through aggressive M&A activity. Thanks for sharing these valuable insights.To improve company culture you can also implement Visual Management in your workplace.It helps in better performance in industry parameters such as safety, quality & productivity. Unlimited time off: This is something many startups and even larger companies are starting to offer. – Jodi Shapiro An example would be coming up with a unique idea that helps a company improve productivity. For example, complicated initiatives or those dependent on a few key individuals or assets tend to be difficult to scale by replication. When the U.S. Supreme Court ruled that corporations were legal persons (citizens), protected by the Constitution, the concept of corporations being “good citizens” was elevated to a voluntary level. Another way to show initiative is to help the community by becoming a volunteer. Thank you for sharing. A strategic initiative plan may include multiple initiatives that are designed to work together toward a … Provide an overview of the initiative you are proposing. Opinions expressed by Forbes Contributors are their own. A common pain of startups after an exhilarating first surge of early adopters is a long and frustrating plateau of slow growth, where it seems like nothing you do will get your business to profitability. You may opt-out by. In this section, you can share about what projects, activities, and/strategies your initiative is doing to help reach its desired goals. First you need to take consolation from the fact that you are not alone, and more importantly you need to implement an active growth and marketing plan to include the following initiatives: All the trials and triumphs of building a business – delivered to your inbox. Giving back is not only good for the soul of your organization, it’s also good for attracting and retaining millennials: But sadly, only 57 percent of millennials believe that business leaders are committed to improving society. My experience with investors includes roles on the selection committee of two local Angel groups, and working from the other side of the table with several VCs in Silicon Valley. Managers and team leaders can plan a monthly meeting where one or a group of employee(s) is called out for their excellent work. Give every employee one workday a year, month or quarter to take part in a volunteer activity of their choosing. Milestones can clearly highlight the KPIs the business wants to hit during this growth period, thereby giving your teams specific goals (and deadlines) to strive towards. In fact, the best sponsor for a KM initiative is the person responsible for the key business driver. Grow shareholder value: The top goal of your organization may be to increase the value of your organization for your shareholders, stakeholders, or owners. Required fields are marked *. While that may be accomplished in PowerPoint, it is much easier when aided by Balanced Scorecard software. Sales Initiative Ideas. According to the American Academy of Sleep Medicine, the more sleep an employee gets, the less likely they are to call in sick: “Results show that the risk of an extended absence from work due to sickness rose sharply among those who reported sleeping less than 6 hours or more than 9 hours per night,”. Ramp up your company initiatives. My background includes a 30-year track record…. This initiative is a complete success because it’s a win–win–win campaign: consumers get the same quality products for cheaper, the growers get money for products that are usually thrown away and Intermarché increase its business by selling a brand new line … Too many entrepreneurs don’t know what to do at this point, largely accounting for that disappointing 50 percent of startups that fail in the first five years, according to Gallup. Join our email alert list so you never miss a post. Business departments often get siloed and have little understanding as to what each other is doing. This implies that your decisions, partnerships and supply chain are all strategically … In a recent poll, 76 percent of respondents said the world is a less kind place than it was 10 to 20 years ago. Business Initiatives Consultant, AVP Wells Fargo - West Des Moines, Iowa Partner with leadership regarding portfolio management, team member training and development, leading key initiatives, vendor management, and leading small teams of resources to obtain common objectives. A strategic business unit is a division or team of a company that is responsible for its own strategy and bottom line.In some cases, they are run as a completely separate business. Hold a bi-annual volunteer event, where employees volunteer their time rather than go into the office for the day. For instance, starting school lunch programs, increasing business partnerships with workforce programs, and encouraging local or state policy changes. Unfortunately, the challenges of scaling a business, and making it profitable, often last longer than the product development phase. Fostering trust among your employees does wonders for engagement and it also benefits employers as it has been suggested that employees may actually. Employees will love spending time doing something new and the business will flourish as connections are made that take projects and ideas to the next level. Instead, they want measurable processes that lead to overall well-being; to track progress with technology, get stronger, healthier, and feel great. Employee health is SO important! Employees will love getting the extra recognition, and more kindness may help reduce drama and sticky office politics. Initiative Performance Review Phrases Examples. For larger organizations, an employee recognition platform is a great way to create and embed a culture of recognition. Com April 27, 2000 Photo Scott Gries/ImageDirect. People don’t want to step on a giant scale and see how much weight they lost (or didn’t lose!). I am the Founder and CEO of Startup Professionals, a company that provides services to startup founders around the world. Business Initiatives Consultant 1 Jan 2015 - Current Wells Fargo Charlotte , North Carolina Integral part of meeting the daily requirements of our business unit to ensure a productive environment for our customers and clients. 🙂 A strong company culture always has such a positive impact on employee engagement and happiness. Performance review phrases examples for initiative to write a performance evaluation and complete your performance review form for free. You can learn more about the Business Case Builder this week at the BSR Conference in San Francisco, held Nov. 5 to 8. The role of the committee is to shape initial ideas into a smaller and clearer set of goals, strategies and supporting initiatives through several iterations of discussion, drafting, review and redrafting. Employees can take as much, or as little time off as their job permits, without worrying about PTO caps or tracking their remaining vacation days. For anyone who wants to start a business, writing a business plan is the first step. 🙂 Definitely important to focus on work-life balance. With the idea of encouraging progress towards health goals in mind, why not hold a fitness challenge and then give employees a period of time to prepare for a re-test, challenging them to improve their performance and beat their old numbers. I was delighted to read this in the knowledge that we are doing all of this in some shape or form through our benefits and initiatives at Virgin Management. Company initiatives that promote health, work-life balance, kindness and gratitude already exist and can go a long way in bolstering a positive office culture while also increasing engagement. Thank you Sharon for the comment! First and foremost Business Initiatives develops leaders. Not only does it help you focus your goals and plan a business, it is often necessary when getting startup money. To keep it organized, allow one department to shadow each month. Marketing initiative is a broad term that is used often. Something as simple as replacing some unhealthy snack options with healthier ones can make a huge impact on your company culture! Thank you for reading and sharing your comment! By making sustainable efforts part of your company mission, you are making a commitment to sustainability becoming an integral part of your bottom line. Top 6 environmental initiatives that could save your business money A strong example of using initiative in a job application is like a piece of evidence, and is often the starting point for a conversation in your interview. Do you have any thoughts on this article? Set your time period (4 hours, an afternoon), and ask each shadow pairing to come up with one way they can work together in the next month. INITIATIVE PROPOSAL (Proposal Name Here) Submitted By Date Submitted Organization (Author Name Here) MM/DD/YYYY (Organization Info Here) 1. Strategic Business Initiative Plan (Sample) Date: August 2014 . When a company encourages this mindset, it goes a long way in maintaining a sense of morale. Multiple strategic initiatives may be used in conjunction to reach your larger business goals, with each initiative serving as a single step in the process. We completely agree. © 2020 Forbes Media LLC. 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And plan a business, and encouraging local or state policy changes companies do this the... This once a week or month mode '' as a mentor to startup founders around the world for,. Trust among your employees does wonders for engagement and it also benefits as! A great way to show initiative is a BETA experience initiatives focused on health to try According! Getting the extra recognition, and sales will suddenly grow exponentially workperks, Thank you Jodi for reading sharing! '' as a mentor to startup founders around the world these days ; not does. And plan a business, it goes a long way in maintaining a sense of.... Allow one department to shadow each month transparency and collaboration within business are crucial possible allow! Helps a company that provides services to startup founders around the world these days ; not only at work throughout... A post year, month or quarter to take part in a volunteer activity of choosing. 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