What is the term for a specific project or action taken to solve business problems or achieve change objectives?

The term 'Initiative' refers specifically to a project or action taken to address business problems or to achieve desired change objectives. Initiatives are often well-defined efforts focused on implementing strategies or changes within an organization. They typically involve specific activities, resources, and timelines aimed at driving improvement or delivering tangible results.

In the context of business analysis and strategy, an initiative is a critical component because it represents the operational steps that organizations undertake to realize their strategic goals. This focus on action and implementation aligns with the practical aspects of achieving desired outcomes, distinguishing it from more abstract concepts like strategy or goal, which represent broader intentions or targets rather than specific actions.

Goals and programs have a different scope; goals are desired outcomes the organization wants to achieve, while programs encompass a group of related initiatives that work together to achieve a higher-level objective. Hence, 'initiative' best captures the essence of taking concrete action to solve problems or facilitate change within a business context.