Set up a channel where employees can recognize one another with a timely âthanksâ or ânice jobâ regarding recent business successes. In todayâs competitive market for talent, office culture is everything. The circular economy could unlock $4.5trn in economic growth. Feel free to Circle me on Google+. In fact, the best sponsor for a KM initiative is the person responsible for the key business driver. You are probably familiar with popular health hashtags such as: #Healthyisthenewskinny and #progressnotperfection. 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. 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. Join our mailing list so you never miss a post. Thank you for sharing. It cites climate change, water scarcity and water quality as significant business risks. 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. To keep it organized, allow one department to shadow each month. Below are three initiatives that require very little resources, ... Business acumen analysis, ... starting with executive and senior leaders setting the example. I can attest to the notion that when cramming or involved in a big project, finding a work-life balance can be difficult. You can learn more about the Business Case Builder this week at the BSR Conference in San Francisco, held Nov. 5 to 8. Unfortunately, the challenges of scaling a business, and making it profitable, often last longer than the product development phase. This article is a critique of, âagile thinking,â with examples provided for a strategic initiative at Corning: Agile Business Innovation. For larger organizations, an employee recognition platform is a great way to create and embed a culture of recognition. You may opt-out by. Top 6 environmental initiatives that could save your business money 2. With that in mind, here are a few modern company initiatives focused on health to try: According to a 3-month Communispace study. With fitness trackers and other wearables, people can now track how long and how well theyâre sleeping every night. Content for B2B Sales, B2B Marketing & Recruiting 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. Your specific business â¦ When the team gets together to discuss opportunities and weaknesses, each point can become a business initiative. Companies often don’t realize that healthy employees lead to happier ones! Com April 27, 2000 Photo Scott Gries/ImageDirect. Another way to show initiative is to help the community by becoming a volunteer. 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. Join our email alert list so you never miss a post. It should include the following components: Examples include: When giving constructive criticism or performance feedback, always give âcompliment sandwichesâ (compliment, criticism, compliment), assign work based on peopleâs strengths to set everyone up for success, exhibit small acts of kindness like holding the door open for coworkers, etc. Work from home: If possible, allow employees to occasionally work from home, be it once a week or month. 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. A definition of strategic business unit with several examples. Sales Initiative Ideas. @workperks, Thank you Jodi for reading and sharing your comment! Employee health is SO important! However, organizations will also need to regularly report on initiatives. In present use, agile thinking means to embrace the âagile valuesâ declared by agile software evangelists, those values being things like flexibility, speed, customer responsiveness, change, and good engineering. Something as simple as replacing some unhealthy snack options with healthier ones can make a huge impact on your company culture! Employees of all generations care greatly about achieving a proper Work/Life balance, making it an important part of any culture campaign. Instead, they want measurable processes that lead to overall well-being; to track progress with technology, get stronger, healthier, and feel great. Not only does it help you focus your goals and plan a business, it is often necessary when getting startup money. In addition to cutting your utility costs, itâs also quite possible to cut down on the costs of transportation, water, waste disposal, and paper.Of course, your biggest savings in these areas will depend on the kind of company you operate. Greenhouse gas emission reductions: Adobe The software â¦ Performance review phrases examples for initiative to write a performance evaluation and complete your performance review form for free. 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. ð A strong company culture always has such a positive impact on employee engagement and happiness. Unlimited time off: This is something many startups and even larger companies are starting to offer. Here are a few suggestions for setting up a volunteer initiative: In addition to the inherent value of the good deed itself, participating employees will feel good about themselves and gain more respect for your business, making volunteer initiatives especially valuable. Thank you for reading and sharing your comment! Using Slack, colleagues can not only tag the recipient of the âpropsâ, but the entire channel, so everyone sees what that person did. In short, business initiatives are the result of strategic planning sessions. 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. When selecting and creating your financial objectives, consider what youâre trying to accomplish financially within the time span of your strategic plan. 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. February 7, 2017Last Updated: April 3, 2020. For example, in March, members of the marketing team will shadow whomever they want. 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. 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. Opinions expressed by Forbes Contributors are their own. Many companies do this in the summer, when people tend to go on more weekend escapes. While that may be accomplished in PowerPoint, it is much easier when aided by Balanced Scorecard software. Marketing initiative is a broad term that is used often. Half-day Fridays: Offer this once a month, or during a specific quarter. In this section, you can share about what projects, activities, and/strategies your initiative is doing to help reach its desired goals. To get your brand exposure, you have to possess some creativity. 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. ð Check another fun read on 7 ways to de-stress the workplace: https://www.achievers.com/blog/2017/06/7-ways-de-stress-workplace/. millennials care deeply about what they eat: âMore than a quarter say organic, natural and non-toxic products are part of maintaining their health and may see them as alternatives to traditional medicine, signaling an opportunity for brands well beyond the traditional health care sectors,â If your organization canât pay for lunch every day, choose a couple days to provide an organic lunch for employees or consider partnering with a catering company or bringing in a chef. For this to stick, it has to work top down. Pets. A company initiative focused on volunteering is relatively easy to set up and gives you a chance to boost your employer brand while also increasing loyalty and engagement among millennials. Some companies focus on environmental sustainability initiatives, while others have sustainability goals for health, poverty, education, and equal access to resources. Your email address will not be published. Whether youâre starting a new business or just trying to increase your sales, forming strategic sales initiatives can help you and your team focus on specific tactics that can grow your customer base and increase your market share and overall sales. Fostering trust among your employees does wonders for engagement and it also benefits employers as it has been suggested that employees may actually. Some recognition software providers, like Achievers, even allow the integration of popular tools like Slack within their recognition platform to further encourage ârecognition in the flow of workâ. If you use a tool like Slack to communicate within your office, this is easy to facilitate. Provide an overview of the initiative you are proposing. 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. By making sustainable efforts part of your company mission, you are making a commitment to sustainability becoming an integral part of your bottom line. Another example of adding value is motivating others within a work group to reach team goals. Competitive industries â for example the travel industry â use strategic initiatives to create competitive advantage. Value can bâ¦ Donât do it on a Saturdayânot only will you likely cripple turnout, but employees will likely not appreciate having an initiative such as this scheduled during their free time. 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. I provide pragmatic advice and services to entrepreneurs and startups. Employees will love getting the extra recognition, and more kindness may help reduce drama and sticky office politics. Changing or implementing an initiative is a big part of the promotion of your business. Any team at your business can sneak a peek at this roadmap to understand how the rest of the organization will participate in âbiz devâ and thus, plan their initiatives accordingly. We could all benefit from more kindness in the world these days; not only at work but throughout our daily lives. 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. ... 8 Initiatives To Increase Your Business Growth Curve. Hold a bi-annual volunteer event, where employees volunteer their time rather than go into the office for the day. 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. Luckily, there are many ways you can help employees foster desired work-life balance: This company initiative allows employees to shadow their peers for a period of time. We see initiatives as the bridge between the company mission and everyday operations. For example, in March, members of the marketing team will shadow whomever they want. People donât want to step on a giant scale and see how much weight they lost (or didnât lose!). 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: Facebookâs Instagram acquisitionIn April 2012, Facebook changed the mobile startup scene overnight by acquiring the photo sharing startup, Instagram, for aâ¦ Giving back is not only good for the soul of your organization, itâs also good for attracting and retaining millennials: But sadly, onlyÂ 57 percentÂ of millennials believe that business leaders are committed to improving society. Unfortunately, the challenges of scaling a business, and making it profitable, often last longer than the product development phase. INITIATIVE PROPOSAL (Proposal Name Here) Submitted By Date Submitted Organization (Author Name Here) MM/DD/YYYY (Organization Info Here) 1. For us, initiatives and projects are strongly linked. This initiative is a complete success because itâs a winâwinâwin 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 â¦ The size of the companies contributing ideas doesn't really matter. Developing a Strategic Initiative Plan. ð Check out more articles by the author, Jessica Thiefels: https://www.achievers.com/blog/author/jessica-thiefels/. In addition to blogging, I recently released my first book titled “Do You Have What It Takes To Be An Entrepreneur?” You can contact me directly at email@example.com . Stay updated on all the latest articles from The Engage Blog by subscribing at the top right hand side of this page. Strategic Business Initiative Plan (Sample) Date: August 2014 . Employees will feel better and theyâll love telling people they have âsleep goalsâ for work. 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. Cheers! Required fields are marked *. One very common business strategy is for larger firms to gain a stronghold in a growing market through aggressive M&A activity. This implies that your decisions, partnerships and supply chain are all strategically â¦ To capture this growth, transparency and collaboration within business are crucial. Ramp up your company initiatives. Other than decreasing your businessâs impact on the environment, one of the biggest benefits of implementing green initiatives is cutting costs, particularly in regards to energy consumption. If you decide to replicate an initiative, define a model based on core principles and ensure that leadership and mentorship are readily available. This is how we go from mission tâ¦ I'm now in "give-back mode" as a mentor to startup founders, and an Angel investor. Share your comments below. Examples of strategic goals for this perspective include: 1. The good news is these challenges are not rocket science, so anyone can do it. – Jodi Shapiro Thank you Sharon for the comment! When the U.S. Supreme Court ruled that corporations were legal persons (citizens), protected by the Constitution, the concept of corporations being âgood citizensâ was elevated to a voluntary level. Regardless of your companyâs goals, here are 12 examples of corporate sustainability initiatives from â¦ Try to use these positive, negative and self evaluation initiative phrases and examples to write a â¦ According to the American Academy of Sleep Medicine, the more sleep an employee gets, the less likely they are to call in sick: âResults 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,â. Whether itâs 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. You might be interested in checking out this article covering 12 Ways to Improve Your Workforceâs Work-Life Balance: https://www.achievers.com/blog/12-ways-to-improve-your-workforces-work-life-balance/, Your email address will not be published. For anyone who wants to start a business, writing a business plan is the first step. First and foremost Business Initiatives develops leaders. Initiative Performance Review Phrases Examples. For example, complicated initiatives or those dependent on a few key individuals or assets tend to be difficult to scale by replication. 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. Managers and team leaders can plan a monthly meeting where one or a group of employee(s) is called out for their excellent work. All Rights Reserved, This is a BETA experience. 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). Title: Business Mapping Application Development Strategy (ongoing) Contact: Alex Wood (Precision Geographic Inc.) Desired Project Timeframe: Q1-4 2015 . Reward employees who volunteer on their own time with âfreeâ half-days. Projects are the logical descendants of initiatives as they represent the link between tasks and the more strategic planninglevel. An example would be coming up with a unique idea that helps a company improve productivity. They represent the path through which we achieve our targeted performance. 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. My background includes a 30-year track record as an executive in general management, computer software development, product management, and marketing. Strategic Initiatives Examples: The above template is primarily useful when designing your Balanced Scorecard and inventorying initiatives. One way to bring more kindness, respect, and empathy into the workplace is with a company initiative focused in kindness. 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. Start ramping up your company initiatives to boost employee engagement and happiness. 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. While it’s important to have pride in your work, it’s equally important to focus on other aspects of life, family included. Describe the problem, condition or observation that inspired this proposal. Learn how SBA initiatives help small businesses succeed and empower future leaders. For instance, starting school lunch programs, increasing business partnerships with workforce programs, and encouraging local or state policy changes. Luckily, you donât have to reinvent the wheel to improve company culture. Others do far too little, assuming the viral effect and word-of-mouth will soon kick in, and sales will suddenly grow exponentially. 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. The friendly competition will encourage camaraderie and morale among employees while emphasizing greater personal health through competition. However, if you understand what it is you will be more able to effectively put an initiative in place if you need to. Give every employee one workday a year, month or quarter to take part in a volunteer activity of their choosing. 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. I am the Founder and CEO of Startup Professionals, a company that provides services to startup founders around the world. ð Definitely important to focus on work-life balance. © 2020 Forbes Media LLC. Business Initiatives Consultant, AVP Wells Fargo ï¼ 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. Grow shareholder value: The top goal of your organization may be to increase the value of your organization for your shareholders, stakeholders, or owners. 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. A strategic initiative plan may include multiple initiatives that are designed to work together toward a â¦ That is amazing to hear. For many, writing a business plan can seem intimidating; however, with â¦ Business departments often get siloed and have little understanding as to what each other is doing. A shift in positioning is a good example. Sample Goals, Strategies, and Initiatives These examples are drawn from finished strategic plans, so they are more polished and succinct than the ideas that come out of a planning early on. Culture Alignment Techniques That Drive Business Performance, 3 Ways Culture Drives Employee Engagement – Igloo, https://www.achievers.com/blog/2017/06/7-ways-de-stress-workplace/, A list of some of the most unique impactful office culture ideas companies can integrate into their office, https://www.achievers.com/blog/author/jessica-thiefels/, https://www.achievers.com/blog/12-ways-to-improve-your-workforces-work-life-balance/, Understanding Change and Its Impact on Engagement, 3 Employee Engagement and Recognition Predictions for 2017, https://www.achievers.com/blog/5-company-initiatives-improve-office-culture/. 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. 5 Company Initiatives That Improve Office Culture. The circular economy: Enabling the transformation to circular business. Start ramping up your company initiatives to boost employee engagement and happiness. Take a look at three examples of remarkable marketing initiatives that showcased innovation and originality. When a company encourages this mindset, it goes a long way in maintaining a sense of morale. Don’t give up your dream too early. Financial objectives are typically written as financial goals. In any case, it’s no fun to be stuck in this stage, struggling to make payroll, and dealing with impatient creditors and unhappy investors. Thank you for reading and sharing your comment, Rob! We completely agree. In a recent poll, 76 percent of respondents said the world is a less kind place than it was 10 to 20 years ago. My background includes a 30-year track record…. To learn more about how to improve your company culture, access Achievers' free webinar recording, "Culture Alignment Techniques That Drive Business Performance.". I am the Founder and CEO of Startup Professionals, a company that provides services to startup founders around the world. 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. 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. Do you have any thoughts on this article? 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. 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. We’ve always put our people first, and will continue to do so in the evolution of future programmes and offerings. Those with maâ¦ If youâre unsure where to start, here are a few company initiatives to consider: Companies have been holding organization-wide health challenges and the like for some time now, but the kinds of health initiatives employees desire are different than they once were, where end results were all that was emphasized.
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