Eco Devo Strategic Planning Flashcards
Strategic Planning is
The art & science of strategic change-making in which leaders proactively invent their community’s economic development future.
It provides a living vehicle for leaders to think strategically, make sound decisions, focus efforts, and develop consensus for collaboratively solving problems.
What questions does strategic planning address?
Where are you and what is your potential? Where do you want to go in the future? Why do you want to go there? What do you want to do? Who will help you get there? How should you go about getting there? What will success look like?
What is the call to action for strategic planners?
Call to explore untapped potential (help inventors commercialize ideas; help entrepreneurs launch successful enterprises; help employers grow operations; help individuals achieve meaningful careers; help investors maximize ROI)
Call for continual adaptation (look for the opportunity for creative reinvention to meet the ever-changing needs of communities / citizens)
Call for the ongoing pursuit of excellence (deliberate efforts; high expectations; inventive creativity; continual improvement; striving for excellence)
What are the benefits of strategic planning?
1) Shapes a community’s future
2) Defines a community’s purpose
3) Provides a 1-stop shop information base
4) provides realistic appraisal
5) Lays the foundation for effective & practical economic development efforts
6) Provides framework for mutually accepted goals and common agenda
7) Balances community goals with realistic assessment
What is the aim of strategic planning?
To create a living tool and sustainable process for ongoing community innovation and transformation. It should lead to strategies that are: Compatible Feasible Implementable Change-making Innovative
Strategic Planning is a ___________, not an event.
Process
What are the 11 steps to the Strategic Planning Process?
1) Organize
2) Create Vision
3) Assess
4) Identify Issues, Goals & Strategies
5) Prioritize
6) Publicize
7) Develop Action Plans
8) Implement
9) Monitor, Evaluate & Implement
10) Retool, Adjust & Implement
11) Publicize, Progress & Outcomes
What is consensus and what does it involve?
Consensus is support, justification and validation for the strategic plan
Building consensus requires all stakeholders to be involved and engaged; fulling informed and empowered to participate; it requires negotiation to find common ground in order to solve problems or pursue opportunities
What is the main goal of economic development?
To improve the economic well-being of a community through efforts that entail job creation, job retention, tax base enhancements and quality of life.
Who are stakeholders?
Individuals, groups, organizations with a vested interest in the overall future of the community or project.
What are some common characteristics when selecting stakeholders in the planning process?
Well-respected Known for getting things done Successful in launching new ventures Able to recruit others Reputation for being fair, just and ethical Genuinely respectful of others
While the planning process needs to be inclusive, it also needs an ____________ & _____________ leadership team to champion the process.
Accountable & Transparent
The responsibilities of the planning leadership team
Determine the implementation structure
Take responsibility for the process deliverables
Make final approval of goals, strategies, projects & programs
Raise funds to support the costs of the strategic planning process
The Advisory Team is made up of whom?
Subject matter experts called upon to examine various aspects of an issue, provide advice on strategic and technical matters & make recommendations to the core leadership committee.
Why are Task Forces used in the planning process?
They form the work groups to examine specific issues, support specific work activities or execute specific parts of the plan.
They are the ‘meat & potatoes’ of the process and do the work.
Why are consultants used in the planning process?
Design the planning process Facilitate the implementation Conduct data research / analysis Survey and gather input Facilitate consensus building Bring outside perspective / objectivity Provide impartial expertise Offer new ideas / insights Validate / Confirm / Refute suggestions
Hiring a consultant is ____ a substitute for community involvement.
Not
What information should be conveyed to the public through the strategic planning process and when?
Throughout the process from inception, during development, through implementation and during all future phases. Overall plan Key milestones Progress reports Successes of the plan Obstacles to implementation
One of the main challenges to strategic planning?
Building Consensus
What are the steps in the Consensus Organizing Model?
1) Bring all stakeholders to the table
2) Create a purpose statement to focus efforts
3) Ensure all participates have the same information / knowledge base
4) Let everyone have a say
5) Identify next steps to maintain momemtum
Resolving __________ is core to enabling the type of collaboration that is required for successful and strategic change-making
Conflicts
Assessment of the local economy determines
1) Challenges being experienced
2) Competitive advantages of the community
3) Obstacles to attaining eco devo goals
4) Environments in which the economy exists
5) Local resources available
6) Opinions and perceptions of the community
Information obtained from studying the local economy can be used for
1) Identifying assets and liabilities that impact development
2) Forecasting local economic trends
3) Monitoring economic performance over time
An economic development profile is only a ___________ of a local economy.
Snapshot
The structure of the economy tomorrow may not resemble its structure today.
Population characteristics and trends provides insights into
The potential workforce pool
The nature of the local market
The potential need for goods / services
The ______________ is one of the most important resources available to investors in the community
Workforce
_______________ are typically the leading source of income for local government.
Property Tax Revenues
Business climate reflects
How supportive the local economic environment is to businesses.
How can quality of life be described?
The cultural, historical, recreational, natural and other characteristics of a community.
No universal definition
Subjective
A community’s potential for economic development depends on what 3 infrastructures?
1) Human Capital Infrastructure
2) Physical Infrastructure
3) Public Policy Infrastructure
What are the 4 primary ways to gather information in assessing the community?
1) Collecting secondary data from federal, state or local sources (quantitative data)
2) Surveying local businesses / residents (qualitative data)
3) Holding focus groups with leaders (qualitative data)
4) Conducting 1:1 interviews with key stakeholders (qualitative data)
Qualitative data helps
Clarify what the quantitative data reveals
Local perception
____________ are the basic reporting units for federal and state information.
Counties
What are the shortfalls of data analysis?
1) Not geared to the Local Level (the smaller the geographical area, the less data is available)
2) Datedness (info constantly changes)
3) Standardizing (different classification of data)
4) Geographical changes (areas covered change over time)
5) Real vs. Nominal Values (Real dollars = inflation-adjusted data; Nominal dollars = no inflation adjustment)
6) Inconclusive
The 4 main types of surveys
Telephone interview (hi response rate but difficult to schedule)
In-person (hi response rate but cost more to conduct)
Mail/Fax (low response rate, slow but less expensive)
E-mail/Web-based (low response rate but significantly less expensive)
The smaller the sample size the _________ the reliability of the information obtained.
Lower
