Which is a component of an action plan

Business & Finance
Tutor: None Selected Time limit: 1 Day

Vision and mission? OR Clearly defined objective?


Apr 12th, 2015

An action plan is a detailed plan outlining actions needed to reach one or more goals.

All are the components which are used in action plan.

Mission: This is what a company does. It should be short and easy to memorize. However, it shouldn’t be so generic that you can’t tell what business it’s in. Note: similar businesses may have very similar mission statements. Why? Because they essentially do the same things.

Vision: This is what a company wants to become. Vision is a seeing term. Therefore a vision statement should be future-oriented. It’s an image of what a company wants to create. It isn’t what a company is, it’s what it wants to become. While mission statements may be similar, vision statements should be very different. They should be motivating and inspiring. And they should drive decision-making.

Objectives: Objectives are specific, quantifiable, time-sensitive statements of what is going to be achieved and when it will be achieved. They are milestones along the path of achieving your goals.

Objectives should meet the following criteria:

  • Measurable: What will happen and when?
  • Suitable: Does it fit as a measurement for achieving the goal?
  • Feasible: Is it possible to achieve?
  • Commitment: Are people committed to achieving the objective?
  • Ownership: Are the people responsible for achieving the objective included in the objective-setting process?

Apr 12th, 2015

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Apr 12th, 2015
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Apr 12th, 2015
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