A “Business Initiative” takes the form “(we will) achieve outcome X, BY performing action Y”
There are also some constraints. First, the achieved outcome should be objective and measurable. There are lots of different forms the outcome might take (see different kinds of beneficial outcomes) but whatever form is used, it must be objectively assessable.
Second, there must be a defined activity (or programme of activities). The defined activity must be something within the control of the stakeholders in question to actually perform. “Customers buying more widgets” might be a desired outcome but it cannot be a performed action.
Third – the desired outcome must be plausibly causally connected to the performed action. It can’t just be a generally hoped for outcome (such as an increase in share price) – there has to be a credible causal connection between the intended activity and the desired outcome.
Putting it all together, the Business Initiative summarises activities we are capable of doing that we can reasonably believe will directly lead to an objective, measurable, beneficial outcome.
Heritage: I first came across this in IBM (Early 1990’s)