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The Emergence of Industry Clusters. Theory & Evidence - Essay Example
Pages 10 (2510 words)
The Emergence of Industry Clusters Theory and Evidence Table of Contents Introduction 3 Key Facts of the Industry Clusters 4 Theories on the Origin and Emergence of Industry Clusters 7 Policy or Strategy Recommendations 10 Conclusion 14 References 16 Bibliography 18 Introduction The industry clusters act as a source of local modernisation along with improvement towards geographic attention of various business organisations, industrial firms and related trade institutions that include standard agencies and trading organisations among others (Norton, n.d.).It has been prominent that an industrial cluster is a form of network that takes place within a geographical position in which the immediacy…
In an organisational form, clusters offer more flexibility to the industrial firms in the ever- changing industrial environment. In other words, the extent along with the nature of link between the customers, the suppliers and the competitors determine the various advantages of industrial cluster with respect to industrial structure. The emergence of industry clusters has made an exceptional mark as well as caused a significant variation in regional financial performance of the United States and Germany (Delgado & et. al., 2010). Through the occurrence of pioneering clusters of the companies and industries such as semiconductor industry of Silicon Valley, automobile industry of Detroit and German Laser industry, the researchers observed that the above mentioned industrial units attained strong financial performance due to the presence of modernised clusters. ...
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