The national average salary for a Strategic Initiatives Manager is $141,778 in United States. These strategic elements help measure progress and hold you accountable for success. For some organizations, it is important to be seen as part of the community. This objective focuses on specific innovation. Defining what great customer service means in your organization is a way to set the standard and communicate internally. A company defines the strategy based on the market demands and internal and external challenges. Strategic Initiatives | 79 followers on LinkedIn. In addition, in order to provide growth and improved profitability, at times we implement strategic initiatives across the entire company that are aimed at saving costs, gaining efficiencies, growing our profits and providing better services to our customers. If you’re a regulated organization in an incentive environment, you may need to make sure you have the proper controls in place to avoid one-off or systematic cheating. This usually results in significant cost savings. Once in full operation, the mill will produce and market approximately 600,000 tons annually of high-quality recycled linerboard and medium, providing the Company with a strategic footprint in a growing adjacent market. AZZ is conducting a comprehensive Board-led review of its portfolio and capital allocation and has engaged leading independent financial, legal and tax advisors in support of this review. If your organization is in growth mode or has an uncertain economic environment, you need to be sure you remain financially stable. Strategic initiatives typically impact key operational metrics such as store traffic, inventory turnover or customer satisfaction. Ultimately, you’ll need a good plan regarding who you need to hire, how many hires you need, and what the biggest challenges with regard to retention are. Trex takes its role as a corporate citizen seriously. Currently, the company’s gross profit is 25% of sales, and its target gross profit percentage is 30%. This means that your customers know they are not purchasing the most expensive product or service—or even the highest quality—but that they are getting the best deal. Strategic Initiatives, Ltd. is a Texas Domestic Limited Partnership (Lp) filed on June 20, 2003. But the most successful cities refine those high-level objectives. Examples of strategic goals for this perspective include: The top goal of your organization may be to increase the value of your organization for your shareholders, stakeholders, or owners. This objective focuses on reducing costs—typically costs within a product or service that is an offering (to make that particular product or service more effective). This is a regularly occurring objective for a public sector scorecard. When looking at examples of a business’s customer objectives, you’ll see they are typically written like customer goals. Strategic initiatives are not about remaining complacent: they seek to get the greatest return out of the various projects in your portfolio. Creating good, solid measures is the first step to developing your performance scorecard. Strategic Initiatives Cadillac Place P.O. Directors of strategic initiatives develop, oversee and help implement programs and projects that support a company’s vision and short- and long-term plans. Value can be define… Program managers will give them direction, monitor their progress and regularly meet with them to get feedback and make sure the plan is on track. With this premise, the pre-strategic planning stages need to include creative and innovative thinking. This objective is common in learning and growth and may focus on skills, culture, pay, and the overall work environment. Some organizations focus on forming close partnerships with their clients. Revenue represents growth in your organization, so increasing revenue is a sign of company health. Financial objectives are typically written as financial goals. Improving it can reduce costs and improve job satisfaction. In this short period, we turned a casino-driven, Las Vegas-anchored operation into a global entertainment brand offering the world’s most exciting and diverse portfolio of guest experiences. Does the city-planning portion of the budget need more focus than public utilities? Such initiatives warrant the largest commitment of resources. You would first need to define what you mean by “innovation” and how you’re innovating in each particular area. If your business is an architectural firm or a custom software developer company, this could be a good objective to ensure you are working with your customers to design critical solutions. These teams drive key initiatives, ensure This objective also reflects a customer intimacy strategy. A stance of simplicity is inappropriate for most strategic initiatives. It’s easy to get so pre-occupied with handling the business … FORT WORTH, Texas, Nov. 12, 2020 /PRNewswire/ -- AZZ Inc. (NYSE:AZZ), today announced strategic and financial initiatives to enhance shareholder value. The strategic vision is more an overview of where the company wants to be over the next number of years. They are accountable for executing the plan. This is a specific objective focused on implementing a large project like a customer relationship management (CRM) system, that could take years to implement. : (517) 241-4754 Fax: (517) 373-2129 BIOGRAPHICAL DATA Richard H. Waclawek has been director of the Department of Energy, Labor & Economic Growth’s Bureau of Labor Market Information and Strategic Initiatives since April 2005. Blue Skies Inc. is a retail gardening company that is piloting a new strategic initiative aimed at increasing gross profit. The collection includes different designs and layouts to fit with your business … Use this list of objectives to brainstorm what’s most important for your industry and your specific strategy, then build a set of objectives that best represent your organization. Box 30004 Lansing, MI 48909 Ph. Objectives are benchmarks that are designed to be measurable and realistic. Goals cannot all be focused on a single source of revenue, such as tourism or manufacturing. Team members can manage their work with task lists, kanban boards, Gantt charts or calendars. The particular skill would be specific to the organization. The company’s current sales revenue is $2,400,000. Prior to his work at ITC, he was a Public Utilities Engineer for the Michigan Public Service Commission. The implementation by a strategic initiative involves several projects. Here are some examples: Time: Decrease the time required to produce a product or provide a service. Try ProjectManager.com and get award-winning PM tools that can help you manage projects from start to finish. In the hotel industry, for example, this could reflect the strategy of the Four Seasons or Ritz Carlton. Sometimes organizations use an objective like this to drive investment in research and development or other innovative activities. Strategic Initiatives. Try ProjectManager.com today with this free 30-day trial. Strategic initiatives differ from strategic objectives in that the latter is like a strategic goal, only much more specific. When selecting and creating your financial objectives, consider what you’re trying to accomplish financially within the time span of your strategic plan. All the definitions are below! They can comment, tag other project members, who are notified by email and can then collaborate on the task. This is a self-explanatory objective, but can sometimes apply to all aspects of waste. Strategic Initiatives ®. With their buy-in the whole thing becomes a reality. This is also seen in organizations with an aging workforce without a clear means to replace highly technical skills. Having cultivated many startup initiatives over the years, CTC is currently emphasizing aiding and advising scaleup organizations and those Connecticut companies that grow at impressive rates. Strategic Initiatives, LLC is a Tennessee Domestic Limited-Liability Company filed on May 17, 2011. Having cultivated many startup initiatives over the years, CTC is currently emphasizing aiding and advising scaleup organizations and those Connecticut companies that grow at impressive rates. Strategic Planning and Initiatives Executing your strategy requires more than setting targets, goals and objectives—it requires an execution framework. This is a solid top-level objective that shows balance between revenue and expenses. This is especially true for organizations that are either selling a necessity in the community or are creating any kind of negative externality (like pollution). The plan includes a set of strategic objectives that are clearly defined, as well as strategic initiatives … Free, fast and easy way find a job of 1.087.000+ postings in Lansing, MI and other big cities in USA. The target state is an improved situation to achieve stable or better business results. Program managers can add start and end dates to each task, link dependencies and then assign team members to those tasks. For example, a bank with multiple products or a multinational company with multiple lines of business may use this objective. One information technology company, for instance, carefully tracks the number and skill levels of people posted to important strategic projects. The Office of Continuous Improvement (OCI) leads statewide initiatives to improve work processes utilizing employee and Michigan resident feedback. Sometimes this means seeking outside sources of revenue or managing costs that are appropriate to your operations. A strategic vision might seem closest to a strategic initiative, but there are differences between these two terms as well. Initiatives that allow a company to deploy a larger amount of distinctive knowledge than its competitors have give it the advantage of familiarity and the possibility of reaping superior rewards for a given level of risk. Here are two examples: A company wanted to improve its new product development capabilities. The goal was to shift the institution’s reliance away from Excel and PowerPoint by automatically tracking and evaluating strategic business initiatives, or projects, within ClearPoint. It means deliberately choosing a different set of activities to deliver a unique mix of value.” Strategy is the “what” part of the […] Strategic initiatives are the means through which an organization translates its goals and visions into practice. Measures are quantifiable performance statements, and […] If you have questions about which of these strategic objective examples may work for you, drop us a line. A strategic initiative helps you implement your business strategies in a very real way, ensuring that you have specific milestones to follow and goals to meet. The Growth & Emerging Companies Strategic Initiative is designed to support Connecticut tech companies as they go from germination to market domination. Your organization might use this objective if you are in an environment where the customer cannot tell the difference between your organization and another organization’s product. 188 Strategic Initiatives jobs available in Michigan on Indeed.com. Bottlenecks will ruin even the best laid strategic plans. HR Strategic Initiatives. You are asking your organization to either develop new services around the product or new differentiating features of the product or service. Takeaways NYISO’s strategic plan reflects its purpose of balancing the supply and demand of electricity across New York State. If teamwork is critical in your organization, consider this objective. For example, cities along the Gulf Coast have realized that when an oil spill occurs, a reliance on tourism is detrimental. The major difference between these terms and strategic initiatives is that a strategic initiative includes a scope statement, budget and even a start and end date. Sometimes this results in Six Sigma projects, and other times the result is just a focus on defining processes so that staff can adhere to these processes. It’s multiple project views have benefits and will appeal to different members on the team. This strategy indicates you want your customers to consider your organization easy to deal with. Everyone in the project team has different ways to work and ProjectManager.com knows that. To stay ahead of the competition, companies need to systematically build a portfolio of strategic initiatives. You want to start with a larger deliverable, which is your objective, and then break it down into smaller and smaller tasks, which are then given a duration and placed on a schedule. You can then become more specific in this objective by addressing those challenges. However, the sometimes underestimated third element is execution. There may be an optimal amount of debt you’d like to stay within. This objective implies your organization is trying to increase its earnings or profits. Turn initiatives into successful outcomes. 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 just stop at objectives. Before you get started, you have to know what it is you’re starting. 1901 N. Moore Street, Suite 502 | Arlington, VA 22209 | 866-568-0590 | [email protected], Copyright © 2020 Ascendant Strategy Management Group LLC d/b/a ClearPoint Strategy |. As you grow (or shrink) you need to carefully manage cost—so this may be an important objective for you. The company as a system to be transformed consists of different elements to be managed and continuously changed. Although the term “strategic initiative” might sound like inflated business jargon, it’s far from useless. 7 Proven Planning Techniques for Better Projects, How to Make a RACI Chart for a Project (with Example), Project Quality Management – A Quick Guide. Strategic initiatives are large and complex, requiring a program manager to steer that big ship. When your organization has a problem with good customer service, you may want an objective to focus on improvement therein. Search and apply for the latest Senior manager strategic initiatives jobs in Lansing, MI. Blue Skies Inc. is a retail gardening company that is piloting a new strategic initiative aimed at increasing gross profit. Choosing objectives that function as answers to questions like these is the most strategic (and successful) approach for cities. President, strategic initiatives salaries in your organization easy to deal with quality and yield for a aerospace... Or departments of other organizations going to achieve specific objectives ahead of the larger corporation reduce this can be important! Job satisfaction objective, but presents an ideal, though achievable outcome used. Many projects working together but want to accomplish in a certain period of time—typically 3-5 years seek to there! The conversion of your business objectives into practice your most successful products outside of! The time to set them in the objective name you have to get the team ’ s services include,. 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