Growth initiative, two nouns combination?

Question

11. Client Services - Throughout the banking crisis, the need to provide exceptional client service was never more apparent. As organizations now turn their attention to growth initiatives and revenue generation, client satisfaction is increasingly important and demand exists for professionals with exceptional communication and relationship-building skills.

what does underlined mean?

Avangi · Accepted Answer

Silencio TarsierAs organizations now turn their attention to growth initiatives and revenue generation

Yes, "growth" is a noun, but in this case it functions as an adjective.

"Growth hormones" works the same way.

An initiative is an attempt to get something started. Sometimes it's a propaganda campaign to promote public interest in some plan, or to lobby the politicians to get behind a movement.

In California, we have "ballot initiatives," which are attempts to pass "citizen laws" when enough people feel the legislature is not doing its job.
This might be a case of a true two-noun combination, since the expression is quite unique.

A "growth initiative," by the way, would be a proposal to adopt a particular plan to stimulate the growth of the economy, or of particular businesses.

Edit. The plan itself, or the law itself can be called an initiative as well. (that is, not just the proposal to adopt the plan/law.)

A law may be passed with the intention of stimulating the economy. It's an attempt. It may succeed and it may fail. It could appropriately be called a "growth initiative." (a plan which is put into operation for that purpose)

Growth initiative, two nouns combination?

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