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Govern
LED
Organisational change seldom takes place
without strong support from leadership. LED is no exception
and requires unwavering commitment of municipal and business,
to grow and develop the local economy together. The common goals,
approach, principles and values of this partnership, could be
documented as an LED charter.
The establishment of a multi-stakeholder LED governance system,
(equivalent to the role of a board of directors of a business
needs to oversee performance of the LED system. The governance
system functions as the enabler and governing body of the entire
LED system. Effectively it takes
“ownership” of the process shaping the local economic
future. The scale and quality of these
improvement initiatives (or LED system
outputs), are determined by the efficacy of LED
processes, which in turn are constrained by how well the
institutional capacity is organised and availability and quality
of resources such as know-how,
experience, finance and so forth.
The main functions of the governance system,
is to establish and strengthen:
a. Mutual respect and trust amongst stakeholders,
b. Effective patterns of public / private dialogue and Governance,
c.
A clear understanding of sound LED practices,
d. Ensure the LED system is resourced
appropriately,
e. An accurate understanding of LED system performance, and
f. Absence
of corruption 
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