Does the Initiative card give a strategic action, and when do you get the Speaker token?

Question

Accepted Answer

The Initiative card has no strategic action, so it is never flipped inactive and can be played alongside another card in 3-4 player games. You take the Speaker token immediately when you select it. You cannot select Initiative two rounds in a row, and if nobody takes it the previous Speaker stays Speaker.

Twilight Imperium: Third Edition

Does the Initiative card give a strategic action, and when do you get the Speaker token?