An action plan

1
An action plan

• Provides clarity of purpose for operating
  personnel.
• Provides a forum to resolve conflicts between
  strategic intentions and operating realities.
• Provides a basis for strategic control through
  budgets and schedules.
• Serves as a motivational tool for managers.

2
Elements of an effective action plan

• Identifies specific functional tactics to be
  undertaken.

3
Example

• Recommendation The company should target the
  growing market segment made up of young adult,
  urban-based Latinos in the U.S. using the firms
  branded products that have been very popular with
  young adults in Latin America.

4
Action Plan

• A market study will be conducted to determine the
  consumption patterns of Latinos from 16 to 25
  years of age in New York, Chicago, Los Angeles
  and Houston.

5
Elements of an effective strategic action plan

• Identifies specific functional tactics to be
  undertaken.
• Includes a time frame for completion and
  financial resources necessary.

6
Action Plan

• A market study will be conducted to determine the
  consumption patterns of Latinos from 16 to 25
  years of age in New York, Chicago, Los Angeles
  and Houston.
• This study will be conducted from January to
  March with the final report to be submitted to
  top management no later than April 1. 100,000
  will be initially allocated for this study with
  future funds determined by the projected revenues
  from the sales in this new market.

7
Elements of an effective strategic action plan

• Identifies specific functional tactics to be
  undertaken.
• Includes a time frame for completion and
  financial resources necessary.
• Identifies who is responsible for which actions
  to create accountability.

8
Action Plan

• A market study will be conducted to determine the
  consumption patterns of Latinos from 16 to 25
  years of age in New York, Chicago, Los Angeles
  and Houston.
• This study will be conducted from January to
  March with the final report to be submitted to
  top management no later than April 1. 100,000
  will be initially allocated for this study with
  future funds determined by the projected revenues
  from the sales in this new market.
• The head of new market development will be put in
  charge of this market study team. Members will
  come from the marketing and sales force with
  representatives from the Latino community making
  up at least half of the team.

9
Elements of an effective strategic action plan

• Identifies specific functional tactics to be
  undertaken.
• Includes a time frame for completion.
• Identifies who is responsible for which actions
  to create accountability.
• Attaches at least one performance outcome measure
  to each action.

10
Action Plan

• A market study will be conducted to determine the
  consumption patterns of Latinos from 16 to 25
  years of age in New York, Chicago, Los Angeles
  and Houston.
• This study will be conducted from January to
  March with the final report to be submitted to
  top management no later than April 1. 100,000
  will be initially allocated for this study with
  future funds determined by the projected revenues
  from the sales in this new market.
• The head of new market development will be put in
  charge of this market study team. Members will
  come from the marketing and sales force with
  representatives from the Latino community making
  up at least half of the team.
• The teams report should include the teams
  recommendation go or no go and why.

11
Your action plan

• Should be an integrated action plan for ALL of
  your issues.
• Will be graded relative to all of the other
  action plans in class (taking into account the
  number of issues that you are required to include
  in your project).
• Will be better the more elements that you include
  in it.