Work Priorities: Developing an Action Plan for Enhancing Profitability and Market Share

This document provides a step-by-step action plan for enhancing profitability and market share. It includes tasks such as identifying markets for expansion, evaluating new suppliers, and determining the best options for online and offline sources of advertisement. The document also discusses potential risks and safeguards associated with the plan.

Develop work
priorities

Table of Contents
Table of Contents.............................................................................................................................2
TASK 1............................................................................................................................................1
TASK 2............................................................................................................................................3
TASK 3............................................................................................................................................4
TASK 4............................................................................................................................................5
TASK 5............................................................................................................................................5
TASK 6............................................................................................................................................7

TASK 1
Action Plan Template
Plan prepared
by: Date:
This plan
addresses the
following work
objective(s):
Enhance
profitability,
revenues, sales,
market share and
number of
customers.
This plan has
been checked
with /
communicated to
the following
people: Mangers,
stakeholders,
board of directors
etc.
Description of
step / activity
Responsibil
ity
When
Target date for
step
Time allowed
How much time will
be set aside for this
step
Resources
required
Other
information
e.g., important things
associated with the step
that need to be
considered /
remembered, etc
Progress
Monitoring
Identifying markets
for expansion.
Market
researcher 10Th April 1 to 4 weeks Human capital,
monetary resources
Analysis of
growing markets. Monthly
1

Evaluating new
suppliers for buying
equipment.
Managers 20th May 1 to 3 weeks Staff members. Suppliers in new
markets. Weekly
Determining best
options for
advertisement.
Marketers 1st June 2 weeks
Online as well as
offline sources and
funds
Low cost and
highly effective
channels for
advertisement
Weekly
Identified Risks
Potential problems which may prevent successful
implementation of the plan
Relate to
Which part(s) of the plan does the risk relate to?
Associated Safeguards
Safeguards that can be put in place to minimise the
risks
Lack of knowledge of growing
markets. Identification of markets for expansion purpose.
Hiring skilled staff members to who are
having experience to determine growing
markets.
Weak negotiation skills of managers. Buying equipment from supplier. Improving negotiation skills.
No information about emerging
advertisement options. Advertising services of the organisation. Analysing different advertisement
options.
2

TASK 2
Work Goals / Objectives
Goal / Objective
Please make sure each goal /
objective is Specific, Measurable,
Achievable, Relevant and Time-
framed
Priority
Links to broader
organisational goals
and objectives
(e.g., team / section / department
goals)
Factors affecting
achievement of
objective
Expand the business in the
market so that number of
customers could be
increased by 10% in
upcoming 2 years.
International
markets
This goal will help the
organization to increase
the number of clients.
List of potential
markets for expansion.
Make sure that all the
services that are rendered
to clients are of best quality
so that profits could be
enhanced by 5% in
upcoming 12 months.
Quality of
services
It will be beneficial for
enhancing profitability
of whole entity.
Quality control,
monitoring, assessment
and improvement.
Deal with metal sheet
roofing so that market
share could be strengthen
by 10% in next 12 months.
Providing
metal sheet
roof repair
services.
With the help of
attainment of this goal
organisation will be able
to increase market
share.
Hiring staff who are
expert in dealing with
metal sheet roofing.
Spending more money on
advertisement so that
awareness regarding
business could be increased
in order to enhance
revenues by 40% in
upcoming 5 years.
Advertising
existing
offerings in
the market
By achieving this
objective organisation
can increase its
revenues.
Identifying innovative
ideas for advertisement
to attract large number
of customers.
Organizing equipment such Organising It will help the entity to Monetary resources to
3

as high-pressure sprays and
pumps, trowels, ladders etc
as well as ordering and
supply of materials such as
tiles, cement, sand and
paint so that sales could be
increased by 20% in
existing market in
upcoming 2 years.
new
equipment
and ordering
supply
material.
increase its sales so that
funds could be acquired
to carry out future
operational
systematically.
buy equipment, human
capital to handle them.
I have reviewed and agree with the above goals / objectives.
Signature of
supervisor: Date:
TASK 3
To-do List
Activity Priority Time
required
Complete
()
Identify the markets where growth
opportunities are available for
business.
Different markets for
expansion.
4 weeks 
Determine existing growth of
business.
Analysis of business. 1 week 
Analysing level of service quality. Actual service quality 2 weeks 
Measuring quality of all the
services rendered to clients.
Measurement of
quality.
3 weeks 
Controlling quality of facilities
offered to clients.
Controlling services
which are having weak
quality
2 weeks 
Arranging resources required for
metal sheet roofing repair.
Monetary as well as
human resources.
4 weeks Working
4

To-do List
Activity Priority Time
required
Complete
()
Finding suppliers of new
equipment.
Market analysis of
suppliers.
3 weeks Working
Selecting some of the key
suppliers.
Suppliers that are
providing equipment
on low cost.
4 weeks Working
Buying the majorly required
equipment.
Required equipment. 5 weeks Working
Performing all the planned
activities.
Organisational goals
and plans.
8 weeks Working
TASK 4
Approach Formal /
Informal?
Who do you use this approach to
seek feedback from?
Participant approach Formal Clients
Manager approach Informal Supervisors
Coaching approach Formal Staff
TASK 5
Self-assessment
Skill / Knowledge / Qualification Requirement
1. Communication skills: It is one of the major skills which is required by all the
individuals working on a specific job profile within an organisation. It will be
5

required by Rina as with the help of it, interaction with staff could be performed
appropriately. Weak communication may result in unsatisfied staff and customers.
2. Team working: In order to achieve all the business objectives, it is very important for
all the managers to make sure that they are having team working capability. It will
help them to get support of all the subordinates and it can also help to increase their
contribution in the attainment of all the business goals. It is required by Rina so that
all the objectives could eb achieved and plans could be executed for betterment of
business.
3. Decision making: For all the managers it is very important to be able to formulate
effective decisions so that they can achieve all the organisational goals. It is an
essential skill for Rina as it will help her to form effective decisions for the
attainment of organisational goals and objectives.
4. Leadership: This skill is mainly required for the individual who is leading a team so
that all the tasks could be performed collaboratively. It is one of the main qualities
which should be acquired by Rina so that all the objectives which are formed could
be accomplished.
5. Problem solving: In order to deal with all the consequences which may affect
business adversely it is essential for all the individuals to have this quality. It is also
required by Rina as it will be beneficial for her to respond all the negative situations
which may take place while executing plans.
6. Motivating behaviour: While working on a management or top position in an
organisation it is very important for all the individuals to make sure that they are
having motivating behaviour. If this will be acquired by Rina then she will be able to
inspire all the staff members to contribute in the development of organisation.
7. Self-management: For all the leaders it is vital to make sure that they are able to
manage themselves properly so that they can help control their behaviour and remain
calm. It is also required by Rina so that she can perform all the activities properly and
contribute in growth of business. Lack of this quality may result in inappropriate
execution of plans.
6

8. Research and development: For growth of business it is very important for all the
management members it is very important to have this skill. It is also required by
Rina so that she can analyse the markets where business could be expanded and
growth could be acquired. If Rina will not have this quality then it will be very
difficult for her to contribute in organisational growth.
9. Planning and organising: This skill is related to formulation of plans and organisation
of all the activities properly. It is very important quality of a leader so that the
planned activities could be performed properly. For Rina it is one of the main skills
which should be acquired. With the help of it, she will be able to formulate effective
plans and attain success for business.
10. Negotiation: It is also a main skill which should be acquired by Rina so that she can
negotiate with suppliers from whom new equipment will be bought. Lack of this
quality will result in higher cost of equipment and material which is required to carry
out business.
TASK 6
Personal development plan
Personal development area #1
Briefly describe the area you have identified for development
Time management as it is required to perform all the activities systemically.
Why is it important that you develop your skills / knowledge in this area?
In order to reach all the objectives which are planned for the growth of business these skills
are required to be developed.
What combination of development activities do you plan to use?
May include on-the-job and / or off-the-job activities. Please be specific (don’t just write ‘on-the-job activities’ or ‘off-
the-job’ activities). Provide details of the development activities you have chosen. You may wish to refer to the
suggestions in Section 3 of your Learner’s Guide.
On the job activities are being planned to use as with the help of them all the staff members
will be able to perform all the activities that are allocated to them properly. Some of the
activities which are related to it are asking supervisor for help, performing all the job roles
systematically etc.
7

Personal development plan
Timeframe for undertaking development activities
In order to undertake all the activities, the timeframe will be required around 4 weeks.
Personal development area #2
Briefly describe the area you have identified for development
Problem solving skills are required to be developed to find effective solutions for all the
business issues.
Why is it important that you develop your skills / knowledge in this area?
Development of this area is required for the purpose of executing all the business activities
systematically.
What combination of development activities do you plan to use?
May include on-the-job and / or off-the-job activities. Please be specific (don’t just write ‘on-the-job activities’ or ‘off-
the-job’ activities). Provide details of the development activities you have chosen. You may wish to refer to the
suggestions in Section 3 of your Learner’s Guide.
On the job activities such as analysing business issues and figuring out appropriate
solutions for the same are being planned to use for the development of area.
Timeframe for undertaking development activities
The time frame which is required to undertake the development activities is around 2
weeks.
8