Initiatives head towards the goal by following the strategy

How are initiatives different from projects?

When you move towards an agile mentality you will stop focusing on projects and start focusing on value. This is in the same ball-park as the "#noprojects" movement. For example in the following image if you replace #noprojects with initiative you end up with a good definition of what an initiative is.

#noprojects vs projects from InfoQ: A Culture of Continuous Value