The strategy phase is the culmination of the CEDS planning process. The creation of the strategic plan is guided by the previous phases – the comprehensive assessment and identification of targets provides a deep understanding of what the community must do to foster future economic growth. Each of Greyhill’s Strategic Plans is specifically tailored to the needs of the client and the uniqueness of the community. There is no single formula that we follow in the development of a Strategic Plan. It is this variability that fuels our intellectual interest and curiosity. We enjoy tackling different challenges and discovering new solutions.
That said, our strategies are generally constructed within the following framework. This provides structure to the process; however, the outcomes within each of these areas will vary greatly from community to community.
- Vision – a detailed view of where the community is headed – how will development shape its look and feel? What companies will it attract and grow? What people will it attract? How will its citizens prosper?
- Incremental Improvements – tactically addresses the unique challenges, both large and small, that are holding the community back from its economic potential.
- Strategic Initiatives – identification of forward looking initiatives that can catalyze the community and bring diverse constituent groups together in pursuit of transformational projects.
- Plan of Action – creation of the operational plan which provides guidance on step by step actions that will bring the vision, incremental improvements and strategic initiatives to fruition.
Our strategies attempt to improve the competitiveness and economic prosperity of the community’s that we work in. The definition of success in these areas and the methods to achieve success differ from one community to the next. We work hard to hear the “voice of the community” and translate those needs into positive outcomes. Greyhill’s Strategic Plans tackle a variety of topics and the emphasis is always driven by the needs of the community. Topics include:
- Workforce preparedness – is the current workforce suited to the needs of target audiences? Are there adequate training and skills development programs? Are there programs to attract and retain a talented workforce?
- Marketing and messaging tactics – how does the community identify its target audiences and what methods are used to communicate its value proposition? Does the community measure its effectiveness and retool its approach on a regular basis?
- Site and infrastructure availability, suitability and readiness – does the community have the sites and infrastructure to adequately meet the needs of its target audiences? Are there programs and financing mechanisms to ensure that sites and infrastructure continue to develop?
- Existing business health and expansion – what are the needs of the existing business base and is there a high level of responsiveness to ensure challenges are understood and addressed? Are there programs in place to ensure that the community’s base of businesses have all the tools they need to be leaders in their industries?
- Culture of entrepreneurship and innovation – do community stakeholders recognize the imperative role that innovation plays in generating economic prosperity? Does the community celebrate entrepreneurs and are there mechanisms in place to spread the culture of risk taking with different segments of the community?