Question
Apart from outperforming competitors, other benefits of having a well-defined action plan include clear direction, improved efficiency, effective time management, and better resource allocation. It also helps in setting realistic goals, monitoring progress, and achieving business objectives.
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According to Harvard Business Review, businesses with well-defined action plans were 3.5 times more likely to out-perform competitors. This standard action plan provides ample room for sketches or product mock-ups and is better for ideas that need to be explained visually. Of course, you can always replace the images with words instead. (Slide 7)
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