Services

Designing and Preparing Action Plans

Truth renders its services for preparing an action plan (an executive plan) according to the articles of association, the memorandum of association, and the detailed feasibility study. The action plan prepared by Truth necessitates knowing the general manager responsible for running the company, his experiences, and qualifications (the project) in order to guarantee effectively implementing the plan and achieving the targets.

Elaboration:

Actually, many experts, scholars, and explicators have tackled several and diversified definitions of action plan, its meaning, why it is prepared and for whom!..

Truth Economic Consultancy has accumulated experiences and witnessed subsequent economic, political, and legislative events and variables. Accordingly, it has right to take part in this domain. Not to mention that Truth has had important and influential contributions to the economic development of the UAE through press, radio, and television reports, studies and accounts. Truth went far as its achievements included the Arab north African countries, especially the People’s Democratic Republic of Algeria. In addition, Truth has economic feasibility studies for diversified projects that nearly covered all the economic sectors, the most important of which are:

·        Education sector·        Financial sector

·        Agriculture and animal wealth sector

·        Industrial sector.·        Real-estate sector.

·        Energy sector

·        Tourism sector.

These studies and their results undoubtedly added considerable experiences to Truth and enriched its library and archive. Hence, Truth developed a distinguished character in terms of the style and management of such studies. Furthermore, Truth’s wide experience in running the economic projects, whose construction and execution were the responsibility of Truth until being handed over to the department appointed by the projects’ owners, has a considerable effect on developing executive plans for such projects. As a result, our introduction to defining the action plan, its purpose, and how it is prepared will largely depend on practical experience and slightly on the academic part.

In witness whereof, we present hereunder a detailed explanation of the action plan conceptaccording to the following points:

I. The Action Plan Concept .
II. The Purpose of the Action Plan, Why and for Whom it is Prepared?
III. The Way of Preparing the Action Plan

I. The Action plan concept

Without reviewing the opinions of researchers, explicators, and experts about the action plan concept , we will review this concept out of our accumulated experiences –as above-mentioned- hence, we give the researcher- or the reader- the freedom to access to those opinions, which thought by some people they have substantial differences. However, we are nearly positive that this difference is in form only – i.e. in formulating the concept- but as for the content, it is agreed upon by all the explicators, researchers, and experts.

The action plan concept in light of Truth Economic Consultancy’s experience and experiments:

It is a document that comprises determining and setting goals, and the style and method of running a group of production or service activities that should be done to achieve those goals.

This is the action plan concept as seen by Truth. This concise definition can be grasped or fully embraced only by experts and academic consultants or those who previously developed action plans. In order to fathom this definition, we have to cast clear lights on some points outlining and explaining this definition. We should address it as follows, with the action plan of a factory of buses for industry as our model to explain what we mean:

1- The action plan is a semi-official document binding on the officials in charge of executing it.
2- The action plan shall be prepared by specialized work team assigned by the project owners or management upon the recommendation of the board of directors or the executive committee. This team shall include a specialized elite from different fields according to the project nature.

If the project is industrial, the work team shall include the following specializations:

  • Industrial consultant (expert).
  • Financial consultant (expert).
  • Marketing consultant (expert).
  • Human resources consultant (expert).

3- The action plan shall be prepared for the existing projects that are actually in production and the projects which are still under study or execution.
4- In light of the previous definition of the action plan, it turned out that it is necessary for the work team to do the following in order:

  • Defining objectives accurately and clearly through the main objective which is divided into sub-objectives, which will be the main goal approached by the departments and sections participating in production. The below diagram indicates the intention behind that:

 

  • Dividing the factory into executive departments and categorizing the main objective into sub-objectives to be the main goal approached by each executive department.
  • Setting working mechanism for each department.

II. The Purpose of the Action Plan, Why and for Whom it is Prepared?

The main objective of the action plan is:

1. Reaching (or writing) a guide for managing a factory of buses to cover all the production operations and the other supplementary activities, in which the objectives are outlined clearly and the method and mechanism of the work of each department are indicated in order to achieve the sought objectives.

2. Having a benchmark by which the degree of the department’s success in achieving the objectives is measured.

3. Statement of deviation, be it positive or negative, between what is actually achieved and what is planned in the action plan.

The plan is basically prepared to be submitted to the project owners in the first place to be discussed in detail, then endorsed and approved and filed to the public department, to abide by its content and achieve the fixed objectives, which in turn shall take the following actions:

  • Endorsing and approving the plan of each department by the senior department.
  • Handing over each department of the factory its action plan.
  • Discussing the plan by the department with the executive departments to remove any impediments to work, then obligating each department with the contents of its respective plan.

III. The Way (Mechanism) of Preparing the Action Plan

The way and mechanism of preparing the Action Plan is the method that should be followed in the production operations and the other complementary activities to achieve the objectives. We can call it the (know-how) in preparing the plan which differentiates a plan developer from the other. In all cases, the action plan should – and has to- present all the elements that should be included in the action plan, which are the following:

1- Contents:

  • Introduction

2- The Plan Summary
3- The Work Conception:

  • The general idea
  • The market opportunity
  • The product description
  • The nature of the consumer’s needs
  • The targeted area
  • The way of coverage or competition

4- Notarial Documents:

  • Legal licenses
  • Certificates of title and patents
  • Layouts of models and designs
  • Proposed literature
  • Map of the work site
  • Reports and recommendations of consultants
  • Quotations and correspondences

5- Work Strategies:

  • The product strategy
  • The pricing strategy
  • The competition strategy
  • The marketing strategy
  • The production strategy
  • The distribution strategy

6- At the time of work, identifying the following:

  • The name and registration
  • The organizational structure
  • The workers and employment policy
  • The strategic allies
  • The approved advisory entities

7- The Plan Summary
8- The Objective of Writing this Plan:

  • Administrative objectives
  • Financial objectives
  • Other objectives
  • The accustomed way of commitment to banks

9- The Market Analysis:

  • The general market definition
  • Researches and studies
  • The Targeted market
  • The targeted sectors
  • The total volume of the market
  • The market share
  • The marketing share (promotion)
  • The marketing share – public relations

10- Analyzing Weaknesses and Strengths:

  • Weaknesses
  • Strengths
  • Available opportunities
  • What may threaten the work success

11. Holding the department accountable in case of its failure to achieve objectives and its negative deviation and the reasons for so.
12. Setting the appropriate solutions for overcoming the reasons for non-achievement of objectives.
13. Financial review of work:

  • Analyzing the equity capital
  • Analyzing assumptions.
  • Bank analysis of the company / partners
  • The accustomed ways of commitment to banks
  • Fixed assets
  • Current assets
  • Short-term assets
  • Long-term assets
  • Overhead expenses
  • Variable expenses
  • Cash flow statement
  • Income statement of the first year
  • Break-even point analysis
  • Costs analysis
  • Financial ratios analysis

Each employer has to explain his plan in the best way that reflects his work. It must be noted that the written plan of a new work is somehow different from the written plan of an existing work. Some elements of the action plans of the existing projects cannot be applicable to the action plans of new works, even though some people (the professionals) are capable of executing a sufficient action plan for any work whether be it a new or already existing.

Contact us for Designing and Preparing Action Plans

Truth Economic & Management Consultancy Services