Carol Anne Hilton

Strategic design and development refers to creating a long-term plan for a company to achieve its goals and objectives. This process involves analyzing the company’s current situation, identifying opportunities and potential threats, and creating a roadmap for the future. It includes the development of a mission statement, identifying key strategic objectives, and creating a plan to achieve those objectives through the allocation of resources. This process involves the participation of stakeholders, such as management and employees, to ensure that the strategy aligns with the overall goals and values of the organization.

Business governance training refers to the education and training of individuals and organizations on the principles and practices of effective governance. This training can include topics such as board structure and composition, risk management, compliance, and ethical leadership. It’s designed to help individuals understand their roles and responsibilities as leaders within an organization, and to equip them with the knowledge and skills they need to make informed decisions that align with the organization’s mission and values. Business governance training can be delivered in various formats, including classroom-based instruction, online courses, and workshops. It’s also important to note that governance training is not only for CEO, CFO, CTO, COO or Board members but also for the employees of an organization.

Indigenomics is an emerging field that aims to create an economic design framework that is grounded in the values, knowledge, and practices of Indigenous peoples. This framework seeks to create an economic system that is inclusive, sustainable, and respectful of Indigenous peoples’ rights and cultures. The goal of Indigenomics is to create a new economic paradigm that is based on the principles of self-determination, sovereignty, and interdependence.

This can include the development of Indigenous-led businesses and industries, the revitalization of traditional economies, and the integration of Indigenous knowledge and practices into economic development. Some key components of Indigenomics economic design frameworks include the promotion of community ownership and control of resources, the development of environmentally sustainable practices, and the integration of traditional knowledge and practices into decision-making processes.

Entrepreneurship development and training refers to the programs, initiatives, and resources designed to support the creation and growth of new businesses and entrepreneurs. These programs can include business incubators, accelerators, mentorship, networking opportunities, and access to funding. The objective is to empower individuals to start and grow their own businesses, thereby contributing to economic development and job creation.

Entrepreneurship development and training can be delivered in various formats, including classroom-based instruction, online courses, and workshops. The training can focus on different aspects of starting and running a business, such as business planning, marketing, financial management, and legal compliance. It can target different groups, such as young entrepreneurs, women entrepreneurs, or socially disadvantaged entrepreneurs. It is a multifaceted process that involves not only providing the necessary knowledge and skills but also fostering the necessary mindset and attitude to become a successful entrepreneur.

Economic tool development and strategy planning refers to the process of creating and implementing strategies and tools to support economic growth and development. Economic tool development can include the creation of financial instruments, such as loans, grants, and tax incentives, to support the growth of small businesses and entrepreneurs. It can also include the development of regulatory frameworks and policies to create a more conducive environment for economic growth.

Strategy planning, on the other hand, is the process of defining long-term goals and objectives for an organization or region and creating a plan to achieve them. This can include identifying key industries and sectors for growth, creating plans to attract and retain talent, and developing infrastructure to support economic development.

Economic tool development and strategy planning often go hand in hand, with the former providing the means to achieve the latter. For example, a strategy to attract and retain talent may be supported by the development of training and education programs and financial incentives for businesses that invest in their employees. Similarly, a strategy to support the growth of a particular industry may be supported by the creation of tax incentives and investment funds to encourage businesses to invest in that sector.

Fiscal and economic impact assessments and economic leakage studies are tools used to evaluate the economic effects of a specific policy, program, or project.

Fiscal and economic impact assessments are used to evaluate the potential effects of a policy, program, or project on government revenue and spending, as well as on economic activity, such as employment and income. These assessments can be used to estimate the costs and benefits of a proposed policy or project and to identify any potential fiscal or economic risks.

Economic leakage studies, on the other hand, are used to evaluate the extent to which the benefits of a policy, program, or project stay within a specific region or community. These studies can measure the amount of money that leaves the local economy as a result of a project, such as through the purchase of goods and services from outside the area, or the amount of money earned by local businesses that is then spent outside the community. The results of these studies can be used to identify opportunities to increase the local economic benefits of a project, such as by increasing the use of local suppliers or encouraging local residents to spend their income within the community.

Both fiscal and economic impact assessments and economic leakage studies are useful tools for evaluating the potential economic effects of a policy, program or project, and are often used together to get a comprehensive understanding of the economic and fiscal impact of a proposal.