50+ SAMPLE Strategy Action Plan

What Is a Strategy Action Plan?

Before describing a strategy action plan, it is necessary to differentiate between a strategic plan and a strategic action plan. Strategic planning focuses on creating a step-by-step procedure of how an organization gets to where it wants and needs to be. On the other hand, a strategic action plan provides a way to implement the strategic plan into different procedures and methods. It becomes a detailed roadmap and outline of how a company plans to accomplish company goals and objectives. The strategic action plan defines the owner of an initiative or strategy. It provides a timeline that details the activities towards the accomplishment of the plan and the resources the organization needs to implement the plan. A company must have a strategy action plan for their business as it serves as a guide to success. The document helps an organization prioritize its most significant goals, maximize the use of its resources, and make better choices and decisions for growth and development; all of these increase the efficiency and effectiveness of the business.

According to an article published by Inc. magazine, about 74 percent of company executives believe that their transformative strategies have more chances of failing than succeeding. The article also indicates that different studies show that 67 percent of strategic plans fail. This is because most organizations forget to implement the strategy into action.

Components of Strategy Action Plan

There are different ways for an organization to write down its strategic action plans. Despite this, there are essential items that the document must have for it to function effectively, and in turn, produce results that the company is expecting. Writing the strategy action plan is essential in many organizations, and it is vital to have every crucial element in it. Below are the general components of a strategic action plan with their descriptions.

Description of the action plan: This section of the action plan provides a comprehensive description that summarizes the contents of the document. The description must be a descriptive summary to avoid any confusion or misunderstanding. When writing the action plan description, start with indicating a verb to better frame the plan for its execution. Most action plans are either a numbered list or a bulleted list to connect to a broader strategy. The system also helps to make it easier for the reader to find all related action plans, especially if they occur at different dates and times. Using sub-headings for each action is also necessary to track items and address accountability, making sure nothing gets left behind.Scope of the project: The project scope section details a step-by-step procedure the company uses to implement the action plan. The scope of the project must provide a clear vision of the start, middle, and end of the program to aid the project manager in overseeing and assisting the tasks and activities in the plan. This section of the strategy action plan can still change throughout the action plan.Resources: The resource section lists down everything that involves monetary value, including materials, assets, machinery, consultants, external staff, and anything that has to do with the allocation of the financial budget. Specific dollar amounts need not be quantifiable in this stage of the project. The project staff then develops expenditures and financial models that quantify the impact of the action plan. When writing the resource section, keep in mind that the final decision for approving the budget is in the hands of management. There are still many ways to access materials and other resources if worse comes to worst.Start date: The start date is a rough estimate of the starting date of implementation. When writing the start date, make sure it is monthly rather than daily or weekly. The project manager reviews the start date when the team accomplishes all the action plans that are in the document. Afterward, a timeline analysis occurs. It is always necessary to ask when is the best time to start the strategic action plan, when the board members must pay attention to implementing the action plan, and when they can expect to receive progress reports and status reports about the project.Completion date: This section states the end date for implementing the action plan. Provide an estimate for when the project will end. When writing the completion date, never indicate that it is still ongoing, as it can negatively impact the accountability requirements of the action plan. If a plan achieves its success measure within the available time frame of the project, then the label for it is ongoing. As a result, it falls off from the strategic plan and becomes part of another ongoing operational component of an organization. Each action plan must have an explicit starting and ending date, after which the project manager evaluates its effectiveness and classifies if it becomes an ongoing activity or project. It is crucial to estimate the length of operation for the strategic action plan. The proposed timeline the team prepares is still subject to revision or rechecking of the board, only if the staff petitions them to intercede for variances.Project manager: The section identifies the project manager in charge of overseeing and implementing the strategy action plan. Select a person that shoulders the responsibility for the action plan. The action plan must identify an individual to take the leadership role, holding accountability and responsibility for the successful implementation of the action plan. The role of the project manager can be the CEO or an executive officer. In some cases, a board member takes on being the project manager, especially if it directly affects board matters.Success measure: The success measure section is one of the most crucial components of a strategy action plan. It helps the board to identify whether or not the result is suitable. Each action plan in the document must have an accompanying measurement metric that must be measurable and identifiable. The success measurement or criteria is one of the commonly ignored elements of a strategic plan. There are questions that the project manager must ask themselves to measure the success of a strategic plan. What would the action plan look like if the best job available implements it? How can the company measure its success effectively? What level of success is the company aiming to achieve?Ethical implications: This section of the strategy action plan defines and identifies issues about ethical concerns, including rights, obligations, fairness, or integrity during its implementation. After identifying these factors, the results must stem lead back to the scope of the project. The project scope must consider and account for all these ethical implications. In doing so, the project team can make the necessary adjustments, looking at the plan from a different perspective to uphold fairness and equity.Risk management: This section identifies all the risk factors when executing the action plan. Describe how each of these hazards can become strategic advantages for the company and indicate them in the project scope section. The project manager transfers these identified risks into the risk register of the company for documentation purposes.

How To Create a Strategy Action Plan

Many businesses go through tedious hours of strategic planning, only to be disappointed because it did not produce or yield the results they expect. Planning goes wrong on many occasions as there is a poor creation and execution of an action plan to follow a strategy. To guarantee that there is a clear step-by-step procedure to perform the strategic plan, follow the steps below to create a comprehensive strategic action plan that the company executes toward success.

  • 1. Involve Team Members Early On

    A team’s participation in the implementation of the action plan is an essential factor in its success. They must actively participate during the planning stages and the other elements of the action plan. Managers that partake in strategic planning must brainstorm with team members to detail projects and communicate the procedures to incorporate in the action plan. The primary purpose of involving the entire team is to produce diverse yet creative ideas and select the best ones to use. Create a brief list that identifies key actions with the greatest potential to help the organization achieve its strategic goals.

  • 2. Indicate Concrete Descriptions for Each Action

    An action plan involves a one-page document, typically on a spreadsheet that contains initiatives per action. These actions can be simple one-off activities like hiring new people, repeatable actions like monthly reviews of costs, or larger projects like site transfers. For each action in the strategic plan, there must be a corresponding key performance indicator, responsible individuals for the initiative, and an execution timeline. The action plan is a summary of the initiatives that the team can use as a quick reference and progress tracking.

  • 3. Indicate a Timeline and Designate Resources

    Action plans usually take a long time, typically within 12 months. For each action, the plan must identify the month it covers and define the achievements and accomplishments throughout the timeframe. More columns on the spreadsheet then cover more months of the plan as necessary. There must also be an allocation of resources, human or financial, to complete essential tasks. Dedicate sufficient material, time, budget, and training programs. It must also have a clear representation of responsibilities. Using the RASCI matrix is helpful. RASCI stands for responsible, accountable, support, consulted, and informed individuals.

  • 4. Establish a Follow-Up and Measurement Procedures

    Don’t forget to include a way to track and measure the progress of initiatives in the action plan. Include milestones and other quantifiable measures like company revenue, market share, and trends. Include the process of updating the action plan, may it be through internal reporting and regular team meetings. The meetings allow the team to recognize and reward members that are performing well and address those that are behind, identifying corrective actions to implement.

  • 5. Communicate the Action Plan

    Before implementing the action plan, make sure that everyone is on board. Explain the possible benefits and advantages to employees and the organization. Everyone must understand why the company plans to implement these initiatives and stress the importance of growth and development. There must also be a way to address employee concerns and make them feel at ease with the possible changes in structure and procedures.

  • 6. Continually Improve the Plan

    An action plan must be flexible and agile, responding to arising issues when changes happen in internal and external environments. As such, there is a need to revise actions and ask for feedback from team members. Annual meetings are beneficial to discuss new action plans for the following year with learnings from the previous year.

FAQs

What are examples of strategic actions?

Some examples of strategic actions involve hiring new employees, planning new programs, forming helpful ordinances, and creating incentive plans, among others.

What is the difference between strategic plans and action plans?

Strategies serve as a blueprint to follow while action plans detail specific procedures to accomplish the plan. They compliment each other in achieving organizational goals.

What are strategic actions?

Strategic actions are programs or projects that help an organization achieve its goals. These are initiatives that contribute to change that creates something new or better that aims to improve operations and performance.

As a famous saying goes, there must be actions for changes to happen. It doesn’t matter if these are small. What matters is that these are consistent with the mindset of achieving goals and objectives. The same applies to the organization. A strategy action plan helps a company to implement the strategies and techniques they formulate to improve daily operations within and outside the company. It is necessary to have an action plan to follow through with these initiatives to see positive results. Download the strategy action plans available from the article above and start growing and developing your organization towards positive change.