Government Training Program
Executive Education
Seminars. Workshops. Master Classes.

Strategic Planning for Economic Development
  Economic Development Planning Best Practices

Program Audience

• Economic development boards, political leaders, government agencies, municipal, city and state governments, chambers of commerce, civic, community and political leaders, financial institutions, workforce planning and development agencies

• Note: This training course is designed for government professionals. We do not accept students seeking initial employment, postsecondary education, or initial licensing programs

Program Objectives 

• Provide an understanding of the strategic planning framework of economic development

• Offer experiential analysis of the challenges of economic development leadership in competing in a global market place

• Examine how firms, industries and countries compete

• Understand the resources, capabilities, and core competences that make an economy successful in developing and sustaining a competitive advantage

• Focus on the frameworks, decision-making models, and tools needed to formulate and implement successful economic development strategies

• Create work-based projects to develop strategic initiatives based on the delegate's unique set of issues, resources and business environment

• Plan, implement and monitor strategy execution using performance measurement systems

• Identify the challenges of designing and implementing strategic change

• Share strategy insights from the world's most successful economies

• Learn proprietary best practices in policy making and measurement such as as Gross National Happiness (GNH), Gross National Wellbeing (GNW), and Gross National Development (GND)

Training Focus

• Develop the core business strategy management skills and competencies. The core competencies include business strategy planning, control, problem-solving, and communication

Program Modules

• Analyze national economic and business environment using SWOT and PEST Models

• Understand economic and business competitive advantages

• Define economic vision, mission, goals and objectives

• Discuss demand-side economic strategies and supply-side economic strategies

• Identify economic development initiatives, programs and projects

• Implement economic development strategy, build consensus and manage change

• Establish economic development indicators and benchmarking

Training Model

• Experiential action learning

• 25%-50% seminar and 50-75% experiential project work

• The development of management skills is based on KASAC executive education and management training model

Key Concepts

• Top Strategic Economic Development Questions. Gross National Development (GND). CEO's Strategic Challenges. Strategic Planning. Strategy Best Practices and Pitfalls. Economic Development Strategy Toolkit. Gross National Happiness (GNH). Gross National Well-being (GNW). Strategy Formulation. Strategy Implementation and Strategy Evaluation Framework.

• Critical analysis of the applications and limitations of popular strategic management practices, models and frameworks, including: Kaplan & Norton Balanced Scorecard (Kaplan & Norton) for Government Agencies. Strategic Stretch vs. Strategic Fit. Boston Consulting Group (BCG) Matrix. Portfolio Analysis (Cash Cows, Dogs, Question Marks, Stars) & (Divest, Invest, Build and Harvest). Cost/Benefit Analysis (CBA). Industry Profit Pool Analysis. Industry Value Chain Analysis (VCA). Strength, Weakness, Opportunities and Threats (SWOT) Analysis. Competitive Benchmarking. Industry Life Cycle (ILC). Core Competencies. Critical Success Factors (CSF). Game Theory. Nash Equilibrium. Scenario Planning. Key Performance Indicators (KPI). Sustainable Competitive Advantage. Risk Management. Trends Probability and Impact. Organization Design. Change Management. Natural Law. Gap Analysis. Business and Economic Growth Drivers. Environment Scanning. Political, Economic, Social, Technology, Environmental and Legal (PESTEL) Analysis. Economic and Industry Attractiveness. Industry Structure. Introduction Strategies. Growth Strategies. Maturity Strategies. Decline Strategies. Exit Strategies. Industry Rivalry. Entry Threats. Supplier Power. Buyer Power. Threat of Substitutes. Competitive Intelligence. Strategic Group Matrix. Economic Competitive Positions. Sources of Competitive Information. Competitor Economy Profiling. Economic Development Strategic Planning Framework. Daveni's Hyper-competition. Co-opetition. McKinsey's 7-S Strategy Framework. Decision Trees. Growth Vector Analysis (GVA). Experience Curve Strategy. McKinsey G.E. Business Screen. Governance. Strategic Alignment. Hierarchy of Objectives. Performance Control System (PCS). Stakeholder Analysis. Economic Power and Politics. Organization & System Design. Business Model. Pareto 80/20. Sustainable Competitive Advantage. 3C's Model Strategic Triangle (Ohmae). 7 Ps (Booms Bitner). ADL Strategic Condition Matrix (Arthur D. Little). Product-Market Grid (Ansoff). Innovation as Blue Ocean Strategy (Kim & Maubourgne). Core Competence (Hamel, Prahalad), Marketing Mix 4P's. Strategic Stakeholder Management

Training Program Customization Subjects (Optional)

• Infrastructure and superstructure for economic development

• The global economy and international business.The development of the global economy. The globalization driving forces and consequences of growing interdependency among nations

• Changing patterns of trade and migration of capital and labor

• Economic crisis management and recovery planning: A special case study in the global financial economic crisis of 2008

• Assessing the role of finance in economic development: Policies and programs to promote innovation and global competitiveness

• Understanding the role of Innovation in economic development: Policies and programs to promote innovation and global competitiveness

• Case studies in economic development best practices: USA, Europe and Dubai economic development strategies

• Alternative economic development models: Gross National Happiness / Well-being (GNW / GNH) and GNW / GNH Index

• Formulating and implementing a comprehensive and integrated set of decisions that achieves economic development goals

• Developing an economic development vision, building consensus  and managing various stakeholders with different values and interests

• Conducting economic and industry competitive analysis to identify the sources of economic and business competitive advantage

Courseware Content (Customized)

The Strategic Planning for Economic Development courseware includes the following:

1. Participant's training guide

2. Subject matter handbook and lecture notes

3. Executive summary of the subject matter:

   • Summary of essential concepts and business strategy best practices

   • Examples and case studies

4. Economic development toolkit (management frameworks, decision-models, and checklists)

5. Experiential work-based assessment project

6. Online resources for the completion of the experiential assessment project

Performance Evaluation (Optional)

• Performance can be evaluated on the basis of individual or team project deliverables

• There are no Q&A exams or tests. Candidates can choose to complete customized experiential work-based projects such as developing a relevant analysis document, management strategy, action plan or a senior management presentation

• The course advisor will review the deliverables and provide improvement feedback. The evaluation is a form of management consulting and experiential coaching for performance improvement

Training Program Registration

• Strategic Planning for Economic Development
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