SSC Business Initiative Note

SSC Business Initiative Note. A business initiative is an organization’s way of setting a priority. It is usually a description of the direction the organization wants to take and how that will improve the organization. The initiative may be a component of the organization’s vision for the future.

SSC Business Initiative Note
SSC Business Initiative Note

                                     

A company might use a list of business initiatives to describe its strategic vision to investors. For example, Wells Fargo describes 10 strategic initiatives on its corporate website. Some initiatives relate to types of services that employees should sell more, such as getting business households to purchase personal banking products. Business Initiative Suggestion and Question Patterns of HSC Examination. Business Initiative Suggestion and Question Patterns of SSC Examination.

A business initiative is an organization’s way of setting a priority. It is usually a description of the direction the organization wants to take and how that will improve the organization. The initiative may be a component of the organization’s vision for the future.

Describing the Future

A company might use a list of business initiatives to describe its strategic vision to investors. For example, Wells Fargo describes 10 strategic initiatives on its corporate website. Some initiatives relate to types of services that employees should sell more, such as getting business households to purchase personal banking products. Another example is the desire to get its account holders to obtain the company’s credit and debit cards. These strategic goals indicate how a company will grow in its market position.

Technological Change

Sometimes a business initiative is a project that leaders and employees collaborate on because there is an internal problem to be solved or a customer need to satisfy. In this mode, an organization can produce one or more technological changes. The organization that can involve technology professionals in developing new technologies will be able to better manage change in the organization.

A Management Effort

Any business initiative that will change the status quo will require coordination of managers and executives. For example, managers must prepare employees to change organizational procedures and employee behaviors. This includes overcoming resistance, getting employees to embrace the change and setting a schedule for implementation.

Client Initiatives

Inside an organization, it might be in the management team’s strategy to build a healthy competition between teams that service different client accounts. Each team can build the prestige of its own team by brainstorming new business initiatives for its own clients. For example, a team might write a list of goals, key actions, and issues for a specific client. This kind of project will help to build the team that services that client.

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. 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.

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. Others do far too little, assuming the viral effect and word-of-mouth will soon kick in, and sales will suddenly grow exponentially.

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