Part 1

There are a variety of important components that an action plan should include. An action plan should include a SWOT analysis at the beginning in order, to determine where the organization is going or what needs changed/maintained (Friel, 2009). In addition, the mission, values, and vision should be included and the implementation process (Friel, 2009). Some additional components that an action plan should include are: the objective, what action and time period is required to achieve the objectives set, who is the responsible individual for the actions, a list of the resources required, and how results are measured (Ginter, Duncan, & Swayne, 2013, p. 386). 

It does not matter the size of the organization or whether the action plan is for the entire organization, a function, or a division all of these components are required (Ginter, Duncan, & Swayne, 2013, p. 386). The most important component in an action plan would be the objectives that need to be achieved. It is important for employees and stakeholders to know what the organization is trying to accomplish from the action plan. Therefore, action plans should contain clear objectives that, will achieve the organization’s strategies once achieved (Ginter, Duncan, & Swayne, 2013, p. 406). I believe all of the components are important for an action plan. However, the one that I think is the least important would be stating the implementation process. Although, I still think it is important for members to realize how the action plan will be implemented but from the components I listed I think that would be the least important. It is important to continue to manage the action plan over time because, changes happen frequently and it is important to stay current. A business can suffer a competitive advantage if they do not monitor and make changes from time to time.

Part 2

Strategic planning is paramount in realizing objectives. While at it, it should be clearly guided to achieve the desired outcome. An effective action plan has concrete steps that are plainly outlined. Action planning guides our day-to-day working. Similarly, a detailed toolkit of an action plan is of relevance as it stipulates what should be done, how and when. In analyzing important components of an action plan, it is undoubtedly clear that it is a collective and goal oriented approach towards work.

Foremost, specific tasks and goals as outlined in the action plan direct efforts towards a certain end. Thus, action planning must first before anything else state the tasks to be performed which are in line with objectives. Task or a duty allocated to each person is specific in that they are aware what is required of them. This is important as it avoids disguised employment which is a loss of resources and reduces time in performance, as well it makes it easier for supervision, and thus efficiency is upheld. Another key element is Time. Time is of essence in budgeting an action plan. In strategic planning, actions are time bound for achievement of a goal. Also in self-management programs results are time conscious.

Consequently, resources are vital for implementation of any action plan. Resource allocation is a sensitive element that requires thoroughness and accountability of every task. Action planning is aimed at proper utilization of resources as they are scarce. Resources can be of different forms but must be available for a particular plan. all this together bring about a solid action plan.