Engineering an industrial strategy

The IETconsiders that it is timely to analyse the basis of industrial strategies to inform this debate. In this paper the IETpresents a series of litmus tests – a set of measures by which industrial strategies can be assessed. The aim is to encourage policy makers and commentators to consider these measures in the development of their strategies. The IET’s industrial strategy litmus tests have been developed with engineers, industry leaders and academics in the manufacturing sector and reflect their insights and experience of what a successful strategy should contain.

These are:

• A comprehensive and defined strategic vision of the challenges the Government is seeking to resolve, along with a set of strategic objectives or themes which will help to develop solutions. A strategy should be developed before industrial policy decisions are taken.
• This strategic vision should be backed up by sound and accessible analysis, so that all actors can take decisions based on the facts.
• A long term approach should be taken, with milestones to serve as review points. At these points industry and government can assess next steps.
• The strategy should be embedded across all of government with clear accountability for review and delivery provided.

http://www.theiet.org/factfiles/manufac/industrial-strategy-page.cfm