INITIATIVE Definition

Bookmark and Share

INITIATIVE is a key action program developed to achieve objectives or close gap between measures performance and targets. Initiatives are often known as projects, actions, or activities. They differ from objectives in that they are more specific, have stated boundaries (beginning and end), have a person/team assigned to accomplish them, and have a budget. Several initiatives taken together may support a specific objective or theme. It is important for an organization to define the boundaries for Initiatives, such as “all strategic projects over $500k in size”. It is also important that Initiatives be strategic in nature, and not “operations as usual” projects, such as “Recruit a new Sales Rep." Example: “Develop Quality Management Program”, “Install ERP System”, “Revamp Supply Chain Process”, “Develop Competencies Model."

Learn new Accounting Terms

K-1, SCHEDULE is an IRS form used to report a beneficiarys share of income, deductions, credits, and other items from certain trusts or partnerships.

CUMULATIVE PREFERRED STOCK is preferred stock which gives holder a right to dividends if they have not been paid in a given year.

Suggest a Term

Enter Search Term

Enter a term, then click the entry you would like to view.