There are several steps in strategy making:
Creating a vision
Based on the information available, a vision should be agreed by all stakeholders. The vision should be a description of the stakeholder's preferred economic future of the city. It is not always fully achievable but it does give your city a clear sense of what it is aiming to achieve. It is on the basis of this that goals, objectives, programmes and project plans will be developed.
Some advice: Try to ensure that the vision is not too generic and non-specific. While it needs to please everyone, it should still reflect the individuality of the place rather than read like it could apply to any municipal area on the planet.
Goals point more specifically to where you want to be. Goals are much more descriptive and concrete than a vision statement. They should be based on the competitive assessment undertaken to date.
Developing specific Objectives
Objectives are even more specific. They should be time bound and measurable.
Developing Programmes and projects to achieve the objective
Programmes and projects are the specific actions your locality will take to achieve the vision, goals and objectives. Attention should be given to identifying a broad base of projects, some of which should provide 'quick-wins' for the strategy. These projects should include agreed actions for all stakeholders (not just the local authority) in so far as they contribute to the economic vision of the city.