A business initiative is an organization's way of setting a priority. It is usually a description of the direction the organization wants to take and how that will improve the organization. The initiative may be a component of the organization's vision for the future. How’s Is this done? It is through research and prioritizing events that an initiative takes holds and blossoms.
Let us say an individual or company wishes to proceed to improve their brand through social responsibility, known as the companies CSR. This may be a great idea and they may even have a few fantastic ideas as to how. Properly researched with secondary and primary data you would be able to find out which direction and idea would bring the most benefits with the least amount of risk.
The one thing that is missing throughout the definitions of Idea or Initiative is minimizing risk. This is a key component to everything, without minimizing risk a company or individual could lose a lot of money or fail to capitalize on a great idea completely. Any company or individual can have a great idea and plow ahead oblivious of any risk but to minimize risk is a key factor to any effort put forth.
This is done through proper research and data analysis. To do this may cost a company valuable hours and costly expenses that could be avoided by hiring a private research firm. The hours it could take would be better used by the company in other venues that make money now.
3-IIIs can offer a company or individual the research required for proper initiative drives at competitive prices with complete confidentiality. This allows a company or Individual to follow through with initiatives in a timely inexpensive fashion, with minimal risk.