The intent of step three is to achieve an integrated or global approach to LED. Strategy making involves:
Creating a vision
A vision should be developed and agreed on by all stakeholders. The vision should be a description of the stakeholders' preferred economic future for the community. While the vision may not be fully achievable, it does give the community a clear sense of direction.
It is on the basis of the vision that goals, objectives, programs and project plans will be developed.
Goals point more specifically to the outcomes the community seeks to achieve. Goals are much more descriptive and concrete than a vision statement and should be directly related to the findings from the local economy assessment.
Objectives are even more specific. They should be time bound and measurable. The aim is to leverage strengths, overcome weaknesses, exploit opportunities and deal with threats identified during the local economy assessment.
Developing programs and projects to achieve the objective
Programs and projects are the specific actions the community will take to achieve the vision, goals and objectives. Attention should be given to identifying a broad base of projects, some of which should provide 'quick-wins' for the strategy. These projects should include agreed
actions for all stakeholders (not just the local authority).
Documenting the strategy
The strategy should be documented and made accessible to all members of the community. Feedback on the LED strategy should be encouraged and taken into account. In communities where stakeholder participation has been limited, the strategy document could be developed in draft
format and used as the basis for further consultation before finalization of the LED strategy.
It is very important to remember when identifying goals, objectives, programs and projects that these need to be based within the realities of the local economy and the capacities of city hall and local stakeholders as were identified in the