This chapter describes in detail how the economic development strategic planning process works.
While there is no one universally accepted method of strategic planning for communities, the analytical and decision-making steps described below are within the mainstream of current thought on the subject. An “eight-step” methodologydeveloped by international consultants has been applied successfully in United States and Europe.
The eight steps of strategic planning are the following:
- Getting organized.
- Scanning the environment — the community profile and business attitude survey.
- Identifying critical issues and drafting the strategic vision.
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SWOT analysis: strengths and weaknesses, opportunities and threats.
- Developing goals, objectives, and strategies — the action plans.
- Putting it all together — the strategic plan.
- Implementing the strategic plan.
- Monitoring and updating the plan.
