Action plans are many things. Therefore, it is important to ensure that the same framework of understanding is used. It is a common challenge in strategy that words are given different meanings. In MakeMyStrategy™ we work with different levels that are put into context here.

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Once you've completed your strategic analysis of your current strategic situation and set the desired direction, including vision, mission and values, you'll move on to the stage of creating various activities that need to be initiated and executed to take you from the current situation to the desired goal.

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In MakeMyStrategy™, the identified activities are divided into themes, also known as Must-Win Battles, distributed over the strategy period and assigned to those responsible. You have this entire overview in a digital dashboard in MakeMyStrategy™.

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If you don't use MakeMyStrategy™, but work analog, you should create detailed action plans for each activity. For example, this could look like the one below.

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At the top state what a Must-Win Battle this action plan is all about.

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Next, enter in column:

• the activities identified in the order of priority (column 1);

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• specific specification of the subtasks to be carried out in order to resolve the given activity and the order (column 2);

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• proof that the given activity has been resolved. Important that it is measurable criteria that are set up for success. (column 3)

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• who is responsible for solving the given activity. Responsibility need not be equal to performing. (column 4)

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• who follows up and when this should happen and in what way. (column 5)

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• expected working period, i.e. when should the detailed work for a given activity be carried out. And how long is the work expected to take. (column 6)

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• economic assessment. That is, what does the activity cost versus expected gain. (column 7)

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• the risks associated with the given activity and how to manage it. (column 8)

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There are several templates, software systems and tools that can be used for project management of the activities. And you can visualize an overview in many ways depending on what suits your business. Similarly, this overview allows both to lead and communicate even more clearly.

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Action plans must not only be drawn up so that you can then tick the check mark by now they are completed. They must be constantly followed and adjusted in relation to your other strategy material. An easy and simple approach is to use MakeMyStrategy™ as structures and summarizes all your work.

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A dynamic strategic plan and the ability to keep all documents in one place

Lars Stuckert

Chairman of the Board of Directors and partner, manager and lawyer

Advodan

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