Executive Summary, Action Plan, Conclusions & Recommendations

Executive Summary, Action Plan, Conclusions & Recommendations

 

Addresses Learning Outcomes: 1-7

 

IMPORTANT NOTES:

 

•             Cite your references in the Action Plan and in Conclusions and Recommendations.  You may use your textbooks from these and other core classes in the MBA.

 

•             Do not cut and paste from your past assignments and papers.

 

•             Be sure to fully explain your illustrations. You do not want your reader to interpret the illustrations, you must control the message. Provide an in-depth explanation of any illustrations you embed in your paper.

 

This assignment contains three sections of the final business plan:

 

1.            Executive Summary

 

2.            Action Plan

 

3.            Conclusions and Recommendations

 

1. Executive Summary

 

Write this section last. Writing it earlier will cause it to tend towards a traditional introduction and will not cover the whole scope of the research and analysis.The purpose of an executive summary is to provide a brief description of the plan in less than two pages. 

 

The executive summary needs to target the intended reader.  The executive summary is intended to give a busy executive key information and lead them to the sections that will answer their primary questions.  It is not an introduction to the plan or an abstract. The executive summary is meant to raise the interest of the executive reading it to continue reading and evaluating the business plan. Keep in mind that this might be the only section the executive will read; if it is not interesting, they might dismiss the rest.  The executive summary is always at least one full page but never more than two pages long.

 

The elements of an executive summary are:

 

•             Usually starts with “There is a need” and is backed up by data.  This includes a description of the unsatisfied need that creates the business opportunity and innovation desire

 

•             Purpose of the plan (attract investors, bring a new innovation to a specific, identified, and cited market, etc.)

 

•             Introduction to market opportunity – what is the innovation, what is the industry, what is the value that it brings

 

•             Some highlights of the demographics of the customer

 

•             Briefly show why the innovation is a financially sound business idea

 

•             Do not include citations

 

2. Action Plan

 

The action plan describes the steps needed to implement the business plan, including the performance evaluation criteria. This section contains information from all action steps in the twelve sections of the business plan.  For example, if in the marketing plan there is a promotion proposed, then the action steps for designing, manufacturing, and distributing the promotion would be included in the action plan.  Include time lines in your action plan.

 

The action plan explains who does what, how, and when.  This is often directly connected to the management, marketing, and operations plans. This section always contains a graphic and clear explanations.

 

3. Conclusions & Recommendations

 

This is a detailed section that creatively summarizes (but not like in the Executive Summary) the business plan.  This is an opportunity to restate your business case and includes conclusions and recommendations for moving forward. If the development of this business plan does not produce a viable business, this is where you discuss what is needed to make it viable (or not, but it must be stated in this section).

 

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