Initiative pipelines are a list of projects or ideas the business is considering pursuing. Typlically they're prioritized and specify the resources needed to execute the idea. This training video helps you understand if your initiatives are consistent with your strategy. It also explains how initiative pipelines are typically managed.
- When organizations make investments in projects or…in infrastructure, many times that's in the form…of an initiative.…The sum of all those initiatives makes…up your initiative pipeline.…Understanding what projects are in the pipeline will help…you understand how the organization is going…to change over time.…If you're making a lot of technology investments now,…perhaps, in the future your organization will have…new technology capabilities.…When you have that visibility into what you're investing in,…you're going to see that future path unfold.…
Go out and get the initiative list from the folks…who run that process.…Usually, it's a project management office.…Perhaps your manager has access to the initiative pipeline.…Think back to what you learned about your strategy,…and ask, are your initiatives on or off-strategy?…Are they consistent with where the organization…says it's going?…Find out why you're making the investments you're making.…What's the rationale behind them?…How does the initiative improve the business?…
- What business are you in?
- What's your market and who is your competition?
- What problem does your business solve?
- How are your products and services created? What are your pricing and growth strategies?
- How do you measure performance?
With the answers in hand, you can be assured your have the knowledge to make the best decisions for your business.
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- Define and explain business acumen.
- Describe different types of growth horizons.
- Identify critical elements of knowing your business.
- Explain the effects of price changes on profits.
- List common growth methods.
- Evaluate your initiative pipeline.
- Define common business terms.
- Assess trends and your competitive environment.