The Compass of Local Competitiveness

The Compass is a method that takes the Balanced Scorecard as a starting point and turns it into a participatory, practical tool.

The core of the Compass is a one day facilitated workshop with local stakeholders. During this workshop, they

  • share the successes they have achieved so far,
  • define an overarching goal of their development effort,
  • elaborate the critical success factors for their sector, cluster or location’s further upgrading,
  • define activities that address all the critical success factors.

 The Compass gives you

  • a quick overview of ongoing processes in your territorial development initiative (i.e. local economic development, cluster promotion, regional economic development, value chain promotion),
  • alignment of perspectives among relevant stakeholders,
  • strong buy-in from the relevant stakeholders,
  • definition of practical activities that is informed by a strategic perspective.

The Compass method was jointly developed with gtz - German Technical Assistance.