A strategic initiative is an endeavor intended to achieve three interrelated outcomes:

• A boundary-spanning vision or “strategic intent”
• Realization of important benefits to “strategic” stakeholders and
• Transformation of the organization

Alternate definitions

Strategic initiatives are the means through which a vision is translated into practice

Strategic initiatives are collections of finite-duration discretionary projects projects and programs, outside of the organization's day-to-day operational activities, that are designed to help the organization achieve its targeted performance.

Importance

A number of firms have established senior management positions as Vice President, Strategic Initiatives; Director of Strategic Initiatives; and Manager of Strategic Initiatives.