How To Prepare An Economic Development Strategy That Impresses The Board And Gets Results
Saturday, January 01, 2022
The long-term effectiveness of your economic development strategy that impresses the board depends on your stakeholders. Fostering public ownership and enthusiasm starts with your board. Communicating well with them is the key to getting the best strategic support, fresh thinking, and leadership they can offer.
DEVELOPING AN ECONOMIC DEVELOPMENT STRATEGY THAT IMPRESSES A BOARD
Think of your strategic plan as the blueprint that will help businesses, organizations, local governments, educational institutions, and private citizens engage in a constructive dialogue about the future. Ideally, that dialogue will get each stakeholder thinking about their capacity to contribute. In this context, providing an accurate picture of where you’re starting from is key to making sure everyone is on the same page. To get maximum buy-in, your plan should communicate in an aspirational tone and acknowledge the interdependence between business prosperity, workforce development, resource management, infrastructure, real estate development, sustainable land use, quality of life, and more. As recent years have taught us, it should also acknowledge the need to prepare for economic resilience in the face of inevitable contingencies such as economic shifts, natural disasters, and more.