Action Plan
Category: Strategy Implementation
A detailed set of activities
This step represents the more detailed set of activities to be done in the context of the new strategy. It concerns the organisation of each of the activity; the allocation of responsibilities and resources, the way the different departments involved in the strategy will collaborate.
For instance, a core decision could be to develop the selling of credit cards, with the branches having the responsibility to do it. However, it can be more efficient to have the branches relying on a global marketing action being made, at a national level, by the Head-Office. The branches could also need a specific adaptation of their systems, which will be done by the central systems department. Clear allocation of responsibilities, timing, and a close co-operation are crucial.
Short-cut way of addressing all the issues
A way to address all the components of an action plan is to think about the following:
What: what are the specific actions to be implemented?
Why: purpose of the actions in terms of qualitative and quantitative targets?
Who: who is in charge of the specific different actions?
By when: what is the timing of the different actions?
For how much: what is the cost of the different actions?
Discussion
Come back to the possible strategic plan and its objectives listed before by the participants. Using one or two examples, the purpose is to detail them in terms of: specific actions, their purpose, the people in charge, the timing of the actions and their cost.
Stress that this can only be effective if all executives involved considers it realistic.