Home » Reports & Publications » Tools & Resources for Practitioners » Local Economic Development Toolkit

THE STRATEGIC PLANNING PROCESS

 

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:

  1. Getting organized.
  2. Scanning the environment — the community profile and business attitude survey.
  3. Identifying critical issues and drafting the strategic vision.
  4. SWOT analysis: strengths and weaknesses, opportunities and threats.
  5. Developing goals, objectives, and strategies — the action plans.
  6. Putting it all together — the strategic plan.
  7. Implementing the strategic plan.
  8. Monitoring and updating the plan.