How to Write a Business Action Plan | boittierssa.tk

 

action plan business example

A business action plan is a useful project management tool, and can also be helpful when mapping out a strategy for achieving goals. Creating an action plan involves itemizing the steps that need to be taken in order to achieve a desired result, as well as making task assignments, setting due dates, identifying necessary resources and boittierssa.tk: Mary White. Important Types of Action Plan in Business. There are different types of the action plan, which are important in business. For example, three important types of management are as follows: Tactical Plans: These types of plans are organized in a sequence such that strategic plans are followed in order to achieve the required and specific goals. One page action plan for (insert name and date here) A one page plan is a simple tool where you can set goals for your business and note down actions you will need to take in your business to achieve these goals. The plan is simple to use.


58 Free Action Plan Templates & Samples - An Easy Way to Plan Actions


The action plan is one name for the portion of the business plan in which you account for business operations that weren't covered in the marketing and sales plans. The marketing and sales plans spell out the steps your business will take to achieve its financial and sales goals. The action plan explains how you will operate and manage your business. It also addresses the back office activities that don't relate directly to providing goods or services to customers.

These include activities such as:. These types of issues can be conveniently grouped into three categories for purposes of dealing with them in your plan.

The categories are operational plans, management plans and contingency plans. An operations plan summarizes how you will create and deliver your product or service to your customers. The types of operational issues that you'll face will vary based on the type of business you operate. For example, a consultant who deals primarily in action plan business example customers with action plan business example communications isn't going to have an extensive manufacturing or inventory control plan.

In contrast, a fast food vendor will have to carefully plan for inventory storage and turnover, the cooking process, supplies like wrappers, bags and beverage containers, and employee sanitation, etc. In most businesses, action plan business example is a lot going on in addition to the primary business of providing products or services to customers.

You may find it useful to look at your business as if it were a linear process that starts with raw materials and ends with a delivery to a satisfied customer. You'll probably be surprised at how many steps there are and how critical the timing and duration of each step is. While it is easy to relate to production issues in a manufacturing or action plan business example process where goods are fabricated, grown, or otherwise produced, the concept is also applicable to other types of businesses.

As a consultant you are engaged action plan business example help a company convert from a paper-based billing system to a computer-based system.

The end "product" that you will deliver is assistance in selecting the appropriate software and hardware, training on that new equipment, and supervision of the process by which the data is converted to electronic format. You can do a great job without "producing" anything tangible beyond, perhaps, documentation of the process. This doesn't mean that you can ignore "production. First, a working knowledge of the client's existing system has to be acquired.

Then, software and hardware combinations are evaluated in light of the client's needs and budget. A conversion process has to action plan business example developed so that those portions of the existing data that carry over to the new system are available in the new format. Documentation must be prepared to train the client's employees in using the new system.

Each of these activities would be part of your production process. Another production issue you may have to consider when drafting a plan is that there may be situations in which completing the job requires work outside your areas of expertise.

A self-employed plumber deals primarily in pipes, faucets, and fixtures. Those pipes have a nasty habit of being inside walls, and when the plumbing goes bad, the wall frequently stands between the plumber and the pipe. A good plumber knows that his production process goes beyond his primary area of expertise, and will plan for the time and costs associated with the non-plumbing activities, such as patching and painting walls, action plan business example, required to fully serve your customers.

If you or someone else has to do it to finish the job, plan for the time and cost. Small business owners have to orchestrate all the different activities that are needed to make action plan business example business work.

These activities include providing goods or services to customers. They also include managing employees, as well as performing the back office or administrative duties required to keep the business running. Having a business plan helps organize and prioritize these activities.

Many large businesses have project managers whose job it is to track and manage internal corporate processes. These managers work from a project plan, which sets forth the timetable for all the events, milestones, deadlines, etc. Frequently, project managers have no other part to play except to ensure that the project stays on track.

Due to the cost involved, you might not have the luxury of hiring a project manager. Instead, the difficult task of making sure all the diverse elements of your business come together as they should is left to you. Of course, you are also probably a major player in the process being managed.

This dual role is easier if you have a comprehensive list of what should occur, action plan business example, and when. It's easy to overlook management as a major drain on your time and resources, but even a very small business can present some complex logistical issues. Almost every business relies to some extent on outsiders to contribute to the success of the business. Keeping everything on schedule requires you to monitor all of the diverse activities and actively intercede when things aren't going according to plan.

If you operate an existing business, you know just how many balls you have to keep in the air at once. If you are just starting out, don't underestimate the demands of managing. Managing your employees. Managing people is far more time-consuming than you might imagine, action plan business example.

Even if the people who work for or with you are talented and self-motivated, some direction must be provided. While you may have a fairly good idea action plan business example what needs to be done, the people working for you are less likely to see the entire picture.

If a task falls through the cracks, your entire business can be placed in jeopardy. On the other hand, if two or more workers are duplicating each other's work, your business will be wasting time and money. It's up to you to delegate the work in a reasonable manner and to assign particular tasks to those best equipped to handle them. Tracking progress is another important element of managing your business, action plan business example.

It isn't enough to delegate assignments, action plan business example. You also have to see that the work proceeds at a reasonable pace. If realistic deadlines were set at the outset, you can keep tabs on whether individual activities will be completed when needed. It is far better to find out half way through a project that some essential element is lagging behind than to be surprised later in the game.

You have to be aware of all the pieces of the plan, including your own, action plan business example. Managing your own time can be even more difficult than managing the people who work for you. Don't put pressure on yourself by taking on too much. Administrative activities. Every business deals with a variety of operational issues that don't relate directly to providing goods or services to customers.

These back-office activities are part of the overhead of doing business. Someone has to open the mail, pay the bills, keep the books, remit taxes, provide customer service, handle collections, and do the hundreds of little things that make up running a business. It is a serious mistake to ignore the demands that these activities will place on you and your business.

A good starting point is to make a list action plan business example all the activities that someone will have to perform to keep your business operating. A house painter has to do a lot of things that are not directly related to applying a fresh coat of paint to a house. Someone has to purchase the ladders, tarps, paint, brushes, masking tape, and other necessities.

Someone also has to bid on jobs, bill customers when jobs are completed, and deal with complaints if a customer isn't happy. All these things take time. One way of managing the time spent on administration is to let people outside the business handle certain jobs for you.

This can reduce the time spent on back office work, in exchange for a cash outlay. It will not, however, eliminate this work completely. For example, even if you get a payroll service to prepare paychecks, withhold and remit taxes, etc. You'll probably want to review, and perhaps distribute, the payroll checks personally.

The same is true if you engage an accountant to help with your books. Your day-to-day operations generate the income and expense information you need to track, and your books are based directly on the results of your daily operations. While the action plan business example can handle the consequences of action plan business example operational results, you must manage the systems that generate the needed information.

No matter how carefully you plan, the likelihood of everything going exactly as you planned is small. When you made assumptions regarding the market and the capabilities of your business, you knew that those assumptions weren't precise.

While your assumptions may have realistically accounted for reasonably foreseeable events, that doesn't ensure their accuracy.

For example, if your business is dependent on borrowed funds and you plan to obtain and use a line of credit, you had to make some assumptions about interest rates. If you were realistic, you probably looked at a range of rates around your assumed rate to test the impact.

Making alternate assumptions and assessing their impact is the best way to plan for events that are out of your control. Let's say that your business plans to obtain a line of credit, and you negotiate an interest rate of prime plus two percent. You estimate that the rate you'll pay is six percent, but you can live with a rate as high as 10 percent.

Obviously, anything below six percent makes it that much easier to meet your planned goals. But what happens if the rate goes to 14 percent or even 20 percent? It happened in the early s, and the change happened over a relatively short period of time, action plan business example. What would you do? And today, 30 years later, rates are near all time lows and lenders aren't nearly as willing to provide funds to small businesses. This means that planning on what to do if you can't get credit at all is a related contingency.

A contingency plan is an effort to avoid having your business disrupted when market or economic conditions change beyond what you're prepared to handle without major adjustments to your business.

What kinds of contingencies should you plan for? Fortunately, if you've followed along with our suggested planning methodology, you already have a list that identifies many of the most important factors. The SWOT analysis lists those internal and external factors where your risks are greatest. For example, if a major external threat is a direct competitor opening up near your location, you can plan for that eventuality.

Perhaps you'll lower prices, action plan business example, stay open longer hours, or institute a frequent customer bonus plan. Contingency plans can be action plan business example in your business plan in a number of ways, action plan business example.

 

Action Item Example: For Business Action Plans

 

action plan business example

 

Important Types of Action Plan in Business. There are different types of the action plan, which are important in business. For example, three important types of management are as follows: Tactical Plans: These types of plans are organized in a sequence such that strategic plans are followed in order to achieve the required and specific goals. Do you plan to set up your own business? If you do intend then free business action plan template are always there to help you in every step. With a concrete PDF download Business Action Plan you can get better ideas of making your business progress with the plan that is devised. A business action plan is a useful project management tool, and can also be helpful when mapping out a strategy for achieving goals. Creating an action plan involves itemizing the steps that need to be taken in order to achieve a desired result, as well as making task assignments, setting due dates, identifying necessary resources and boittierssa.tk: Mary White.