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Introduction

Trainerís Guide to Manual

LED: A Primer

Defining LED

Organizing an LED Strategy

Guide to Manual...

Module 1

Module 2

Module 3

Module 4

Module 5

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Step Five: Reviewing the LED Strategy


Reviewing an economic development strategy is normally done on an annual basis, usually in conjunction with the local authority's financial planning cycle. Both the local authority group and the steering committee should be involved in the review process.

Issues include:

  • Is the SWOT analysis still valid or have circumstances changed?

  • Is there more information at hand that changes the view of the issues?

  • Are changes required in the vision, goals or objectives to reflect changing circumstances?

  • Are projects achieving what was hoped they would achieve?

  • If not, what should be done?

  • Are the performance indicators being met?

  • If not, why not?

  • What changes need to be made?

  • Should the indicators be changed?

  • Should there be more action on projects?

  • Should the projects be changed?

Further Information...

Stage One: Organizing the Effort

Stage Two: Conducting the Local Economy Assessment

Stage Three: Developing the LED Strategy

Stage Four: Implementing the LED Strategy

Stage Five: Reviewing the LED Strategy

Funding a LED Strategy

Even though Local Economic Development is a relatively new discipline, there is no shortage of examples of bad practice that should be highlighted to remind one of the potential for wasteful mistakes. Most of the mistakes can be directly attributed to just a few causes:

  • Politics (including exclusion of key interest groups, inappropriate zoning and so on);

  • Lack of strategic thought (resulting in inappropriate strategies);

  • Inadequate research, monitoring and evaluation (resulting in inappropriate strategies and initiatives);

  • Grant chasing;

  • Following the latest fad (blindly).

The LED strategy should change continuously to respond to the competitive environment.

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