Many companies seek to maximize profit while keeping business costs at a minimum. Using business strategies or initiatives can help a company focus on a singular aspect of its business to improve profit.
According to the online Business Dictionary, an initiative is a specific project or program to meet short-term objectives. These can be wide-ranging, such as reducing costs, increasing effectiveness and efficiency or improving consumer relations and sales.
A consumer initiative often includes steps for a company to increase sales by differentiating products in the marketplace, marketing goods or services to new demographics or creating a new customer service function to handle customer requests.
Implementing consumer initiatives allows a company to integrate its overall business mission into its daily actions. Owners and managers can also help employees understand the importance of business initiatives and company policies or procedures surrounding the issue.