Action Plan

See Also:
Write an Action Plan
Business Plan
Exit Planning
Pension Plans
Keogh Plan

Action Plan Definition

An action plan, defined as a plan which explains the action to take place in full detail, is a personal plan as much as it is a business tool. In any action plan, there are 3 main factors: what must be done, what tools are needed to do this, and when it will be finished. In this way an action plan format is universal: every action plan answers 3 main questions.

Action Plan Explanation

The action plan explanation is the what, how, and when of achieving a goal. It is also an essential business document. Because the action plan establishes exactly what needs to be done to achieve a goal, it is so important. Whether the goal is to open a business, complete a project, or organize the paperclips on a desk, the action plan is the path to thorough completion of the task. Though the tasks differ for each action plan, medical staffing and pizza delivery as an example, the structure of the plan remains the same.
They often become a part of a larger action plan outline. In business, you combine specific action plans to finally create a master action plan. This is the business plan. For example, we even created a plan of action to write this article. Though the project was set back for unexplained reasons, the action plan was finally completed, with the article written on software and published to the internet. For it, a writer was needed as well as a computer, internet access, and a subject matter. In this way, every goal will have an action plan if it is to be achieved.

Example

For example, Vito is the owner of an Italian restaurant. Coming from his motherland to a new home in the United States, he is an expert in authentic cuisine from southern Italy. Vito loves his food, his work, and his business.

Main Goal

Vito has created an action plan to create a pizza. First, the goal is to have a pizza ready for the customer in a maximum of 30 minutes. This is the main goal of the plan.

Tools

Next, the action plan establishes the tools to make a pizza. Vito needs dough, cheese, miscellaneous toppings, and the tomato sauce with the secret recipe from his grandmother. Vito assembles these tools every day.

Timeline

Then, he creates a timeline. In the first minute, you must knead the dough. After that, it takes 5 minutes to add all of the toppings. Vito knows it takes an additional 20 minutes of oven time to make the pizza. This leaves 4 minutes for accidents, distractions, and other time extensions.

Conclusion

Following his method, Vito is able to make his company a great success. His pizzas are delicious and customers love the secret sauce. Vito even created an action plan, marketing for his business, which focused mainly on finding a good location and creation an eye-catching sign. Vito loves his work, so he creates an action plan for achieving goals each part of it. This way he can achieve his tasks and come home happy that he has done valuable work.
To learn more financial leadership skills, download the free 7 Habits of Highly Effective CFOs.
action plan, Action Plan Definition, Action Plan Explanation

[box]Strategic CFO Lab Member Extra
Access your Flash Report Execution Plan in SCFO Lab. The step-by-step plan to manage your company before your financial statements are prepared.
Click here to access your Execution Plan. Not a Lab Member?
Click here to learn more about SCFO Labs[/box]
action plan, Action Plan Definition, Action Plan Explanation
ARTICLES YOU MIGHT LIKE

The Struggles of Private Company Accounting

Hiring the right accountant  When I meet a business owner operating at a successful $10 million in revenue, they often mention, “My CPA”… I immediately know that CEO/Entrepreneur is referring to their Tax CPA.  That is because one thing that all Entrepreneurs have in common is that they must file a tax return.  So, from

Read More »

CPA’s are Specialized

The Difference in CPAs Looking back at my career I don’t know how many times I have introduced myself to someone and they ask, “Are you a CPA?” and I say yes. Then they tell me “you must be very busy with tax season” and I look at them with a bit of awe and

Read More »

How to Improve Your Resume

The concept of resumes might seem difficult to grasp at times. After all, you’re set with the task of conveying all of your life’s accomplishments and skills in a single sheet of paper. Creating a good resume is an essential skill necessary to be successful in the workforce. A good resume can be the difference

Read More »

JOIN OUR NEXT SERIES

Financial Leadership Workshop

MARCH 28TH-31ST 2022

THE ART OF THE CFO®

Financial Leadership Workshop

Days
Hours
Min

September 12-15th 2022

Days
Hours
Min
SHARE THIS ARTICLE

JOIN THE NEXT STRATEGIC CFO™ WORKSHOP SERIES

Strategic CFO™ Financial Leadership Workshop
The Art Of The CFO®

Days
Hours
Min

September 12-15th 2022