Understanding LED: What? Why? How? Who with what?
What resources are required & where do they come from?
What are the main roles in LED?
What work must be done and in what sequence?
What type of interventions achieve best results efficiently?
What are the key determinants of competitive advantage?
What is a local economy and where are the opportunities?
What outcome are we trying to achieve with LED?
What impact does LED aim to have on citizens?
Who needs to do what in an effective LED system?
What is expected of the leaders of the local economy?
What is expected of LED facilitators?
What is expected of stakeholders contributing to LED?
What is expected of champions driving LED initiatives?

KEY SECTORS AND MARKETS: WHICH OFFER POTENTIAL FOR GROWTH?

 

Understanding what exists to work with, is a fundamental pre-requisite for sound LED. An small economy may look like this (Source; Jorg Meyer-Stamer):

 

Which sectors and markets are currently and potentially the key drivers of economic growth and employment? What are the relevant market, industry and technological trends impacting on the future competitiveness? How is the industry structured and where are they located? What are the interdependencies? What contributions can be derived from Investors, Large and Lead firms and from Small and Medium Enterprises?

 

Reliable statistics and local knowledge provide some insight into the economic composition, economic contributions and economic trends of various sectors that make up the local economy. A number of diagnostic tools exist to diagnose focal areas with highest potentials to contribute to sustained growth. These tools help to strengthen insight and understanding of aspects such as industry structure, value chains, cluster patterns, market trends, market failures, existing networks and communication patterns that characterize the local economic system.



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