It is important to have an unprioritized backlog for all kind of initiatives, small or big ones, in order to fulfil the organizational purpose, both short-term and long-term.
It is also important that this input backlog for the organization is not by-passed, since that will only lead to that wrong initiatives, or wrong functions of an initiative are developed. This means we need to understand what balance we need between centralization and decentralization and keep that balance. To only focus on decentralization in product development, means too many times that we are sub-optimizing, since all parts together becomes a united and unified whole. This goes hand in hand with the need of a systems designed architecture in all product development, no matter domain, see SOSD for the details.
Big initiatives, like enhancements, new products or new platforms, first need to be analysed, also with the current architecture in focus. This means the involvement of the wholeness team, in order find out how to solve the initiative, and how long time it will take, which will be some rough estimates.