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?

Stakeholders participate to make rapid and effective LED decisions (Participative Thinking)

Stakeholders including lead firms, SMEs, private investors, development organisations, public sector investors that can/do contribute to the local economy need to be drawn into the LED process to add value more effectively. In the process, their capacities strengthen LED thinking, resources, power, influence, networking and social cohesion. From their perspectives, these stakeholders need to learn how best they can participate, benefit and contribute to LED. Thereafter they need to adjust the way they work, accordingly.

 

Stakeholders are best informed about where to add value for maximum impact by participation in two channels of improvement thinking:

·          Pro-active identification and pursuit of catalytic initiatives with high impact (annual participative planning), and  

·          Quick response to issues and opportunities that arise randomly (Real-time LED: where stakeholders respond immediately to issues and opportunities, to improve in a matter of days or weeks).

 

 


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