ECONOMIC STRATEGY

Business Environment Economic Strategy



Business Environment Economic Strategy

Introduction

It is important for Devon county to undertake the economic strategy because of the reasin that, for strategic economic development planning to be effective, the active involvement of the private and nonprofit sectors and all levels of government is critical. A priority should be a demonstration program focused on multipurpose regional organizations faced with multiple planning requirements. (Aggarwal, 1999 pp.1999-2043) The economy of Devon is incredibly diverse and the geography, distance to markets and dispersed settlement patterns, all create their own set of challenges and opportunities. What has emerged from a two-year consultation is the need to retain and reinforce those parts which are important to the community. These include the world-class environment, great work/life balance and strong partnerships between town and country.

The challenges which need to be addressed and reformed are the need:

(a) to improve the quality of life through the sustainable growth of great and exciting businesses;

(b) to provide opportunities which will be exciting enough to retain our young people;

(c) to tackle and fully engage with an increasingly ageing population so that this is a fully productive part of our economy, and;

(d) to encourage diversity in businesses, such as those in our land based communities, which need to reinvent themselves.

Therefore in this context the DEP (Devon economic partnership) aims to bring a huge number of private and public sector firms and bureaus to deal with the economic issues of the Devon County. This is only a part of the overall Strategic Partnership of Devon. The Devon Economic Partnership provides leadership and enables the public of Devon County to speak with one voice on crucial economical issues. It also helps in identifying the crucial economic development and reformation concerns. It is also concerned with the planning of activates for the Devon County and ensuring their efficient and effective delivery. Devon County Council's core objectives include:

offering a variety of activities which promote social inclusion

building up the capacities of the local community

giving families and older people a wide range of opportunities

promoting environmental sustainability

providing educational and learning opportunities, especially with regards to IT

Difficulties in attracting new businesses by Devon County

Every city, whether it is big or small, has an economic development administrative centre which aims at encouraging and attracting new and old businesses to their neighbourhood. (Cohen, 2006, pp. 2-18) Due to expansion and relocation of business jobs are created. Because of this the consultants of business development attempt to attract corporate executives and entrepreneurs. These corporate executives and entrepreneurs give a substantial amount of thought in order to succeed. However, these business development consultants do face a lot of challenges and difficulties to attract new businesses to their cities. One of the most important challenges of attracting new businesses is the availability of infrastructure. Businesses, whether big or small, need a suitable infrastructure for their operations. The required infrastructure may include highway access, availability of railway and shipping lines and near by distribution ...