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An action plan…

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. Example.

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An action plan…

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  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. Example • Issue: Given the success of its store-branded clothes in Latin America, how can XYZ Clothing Co. take advantage of the growing Latino community in the United States?

  3. Example • Recommendation: The company should target the Latino teen segment in the U.S. • Justification: The company can dominate this growing market since the firm regularly designs clothing lines that have proven popular among young customers in its Latin American stores. This will lead to increased customer visits from this demographic and higher same-store revenues in existing stores.

  4. Recommendation vs. Action Plan • Recommendation • Responds to the question posed by the issue • Action Plan • Lists the tactics to be taken to execute the recommendation The action plan lists the action steps and not the recommendations.

  5. What not to do in the action plan • Recommendation • The company should target the Latino teen segment in the U.S. • Action Plan • The company should set up kiosks to poll all shoppers on their shopping habits. • Customers will be encouraged to bring their own shopping bags to reduce waste. • “Half-price” coupons will be distributed at keg parties.

  6. Elements of an effective action plan • Identifies specific functional and operational tactics to be undertaken (tasks).

  7. Action Plan • Task 1: A market study will be conducted to determine the shopping patterns of Latinos from 13 to 19 years of age in New York, Chicago, Los Angeles and Houston. • Task 2: Results will be used by the R&D department to adapt current Latin American clothing lines to American shopping habits. • Task 3: Company buyers will canvass existing suppliers to assess their capability to supply U.S. stores……

  8. Elements of an effective strategic action plan • Identifies specific functional and operational tactics to be undertaken (tasks). • Specifies resources to be used: • time frame for completion

  9. Action Plan • Task 1: A market study will be conducted to determine the shopping patterns of Latinos from 13 to 19 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.

  10. Elements of an effective strategic action plan • Identifies specific functional and operational tactics to be undertaken (tasks). • Specifies resources to be used: • time frame for completion • financial resources

  11. Action Plan • Task 1: A market study will be conducted to determine the shopping patterns of Latinos from 13 to 19 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. • One hundred thousand dollars will be initially allocated for this study.

  12. Elements of an effective strategic action plan • Identifies specific functional and operational tactics to be undertaken (tasks). • Specifies resources to be used: • time frame for completion • financial resources • organizational and/or human resources

  13. Action Plan • Task 1: A market study will be conducted to determine the shopping patterns of Latinos from 13 to 19 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. • One hundred thousand dollars will be initially allocated for this study. • 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.

  14. Elements of an effective strategic action plan • Identifies specific functional and operational tactics to be undertaken (tasks). • Specifies resources to be used: • time frame for completion • financial resources • organizational and/or human resources • Attaches at least one performance outcome measure for each task. This outcome must be related to the strategic and/or financial objectives that were used to justify the recommendation.

  15. Action Plan • Task 1: A market study will be conducted to determine the shopping 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 • One hundred thousand dollars will be initially allocated for this study. • 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 market study team will submit a report on projected net impact on same-store sales revenues and store traffic for each product category in each sample city and at various price points.

  16. Your action plan… • Should be an integrated action plan for BOTH of your recommendations. • Will be graded relative to all of the other action plans in class. • Must include all of these elements. • Will be better the more details that you include in it. • Make sure that you write up your action plan in paragraph form and assign a number to each task.

  17. Action Plan Task 1: A market study will be conducted to determine the shopping patterns of Latinos from 13 to 19 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. One hundred thousand dollars will be initially allocated for this study. 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 market study team will submit a report on projected net impact on same-store sales revenues and store traffic for each product category in each sample city and at various price points. Task 2: Results from the report will be used by the R&D department to adapt current Latin American clothing lines to American shopping habits……

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