这涉及需要在有助于实现最终结果的行动中做出的变化（Dibb et al，2005）。然后，必须对适当的行动计划进行严格的评估。在此之后，行动计划将传达给相关的利益相关者，为他们提供关于如何使用行动计划的清晰思路。一旦这个过程完成，现在是时候开始实施行动计划了。通过关键绩效指标（KPI）对所实施的战略进行监测。这是一种衡量表现的类型。为了评估和衡量公司实现预定目标和绩效水平的程度，各组织使用相同的方法。为了实施像平衡计分卡这样的管理框架，通常使用KPI。
Strategy development, implementation and monitoring outside formal cycles
It is in an effective manner that the action and strategic plan are to be developed so as to achieve the goals in an effective manner. The organizations must follow the essential steps which are required in the development of a successful strategic plan. The first step includes setting of planning group by the company with individuals who are in the position to do that. Additional partners and employees are to be included by the group which should include the groups which are impacted by a specific issue. Proper analysis of the problems have to done and strategies have to set accordingly. The second step is to describe the vision of the company. This involves where in a specific time frame the company has to reach. The next step is to state the objectives of the organization. After this a thorough revision of the objectives are to be done based on the SMART analysis. The next step will be to identify the strategies. This involves the identification of the targets and the agents of change. The next step is to develop the action plan.
This involves the changes that are required to be made in the action which are helpful in attaining the end results (Dibb et al, 2005). Then the critical evaluation of the appropriate action plan has to be done. After this, the action plan to be communicated to the concerned stakeholders by giving them a clear cut idea about how to use the action plans. Once this process id done, it is then time to begin the implementation of the action plans. Monitoring of implemented strategies is done through Key Performance Indicator (KPI). It is a type of measurement of the performance. To evaluate and measure how far is the firm from accomplishing the predetermined goals and the performance level, the organizations uses the same. In order to implement the framework of management like Balanced Scorecard, KPI is usually used.