Here’s an article on the AC from what was then the Bionomics Institute.
Check it out for a nice basic take on the Action Cycle and its value to organizations.
(As an aside I met the author of Bionomics and founder of the apparently now-hibernating Bionomics Institute, Michael Rothschild, in London in the mid-90’s. Smart, warm, engaging guy with a revolutionary and valuable take on organizations and economics. Very worth spending time with if you get the chance, although I’m not sure what he’s up to these days. The book is also outstanding. Thanks to Mike Cooke for introducing me to Michael.)