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Innovation
C/OM/355. An examination of the benefits of clustering
- WORDS:
- 2350
- DATE:
- 2011
- PRICE:
- 29.99 GBP
This paper examines the subject of clustering, and aims to outline the benefits of the concept. This subject is discussed in specific relation to the finance, retail and IT sectors. The paper begins by introducing the background to clustering, geographical concentration and agglomeration. The way in which clustering supports innovation is examined, as well as the way in which it creates external economies for participating firms. The subject of knowledge spill-overs is discussed, along with the way in which clusters can encourage new business formations. The paper discusses the way in which clustering supports industrial reorganisation as well as the way it encourages greater focusing on public resources.
KEYWORDS: Clustering, finance industry, retail industry, IT industry, geographical concentration, agglomeration, innovation, knowledge spill over, industrial reorganisation, public resources,
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