103 Set Priorities
Strategic initiatives are specific activities intended to address the big-picture issues and close the gap between the current state and the desired future state. They may be aimed at taking advantage of opportunities or solving problems.
Strategic initiatives are imperative when your firm faces a performance gap. Gaps appear when performance projections with current strategies are not likely to meet management and shareholder expectations. The gaps point to issues that call for adjusting current strategies, adopting new strategies, or both. Before creating initiatives, you must first identify and set priorities for the strategic issues that need to be addressed. Each major strategic issue may require one or more initiatives. ...
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