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Innovational Mechanism of Implementation of Cluster Initiatives in Business

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  • Evgeny V. Frank
  • Oksana V. Mashevskaya
  • Lilia V. Ermolina

Abstract

The authors view the problems of developing countries and create innovational organizational and managerial mechanism of clustering, aimed at solving these problems and adapted for provision of sustainable regional development in view of clustering. As a result of the research, the authors come to the conclusion that realization of potential of clustering in the increase of competitiveness of regional economy can be achieved by means of formation of complex mechanism of management of regional socio-economic development. That’s why, in order to receive maximum profit from clustering, innovational organizational & managerial mechanism of realization of cluster initiatives in business should be based on formation of regional innovational clusters as a part of complex mechanism of management of regional development. The mechanism that is offered in the article aims at solving the problems of developing countries in the sphere of clustering by means of coordination of actions of regional authorities and members of cluster entities. Cooperation and interaction of members of cluster entity and regional authorities are oriented at the increase of efficiency of cluster functioning and achievement of goals of regional development in economic, social, and ecological spheres.

Suggested Citation

  • Evgeny V. Frank & Oksana V. Mashevskaya & Lilia V. Ermolina, 2016. "Innovational Mechanism of Implementation of Cluster Initiatives in Business," European Research Studies Journal, European Research Studies Journal, vol. 0(1), pages 179-188.
    • Handle: RePEc:ers:journl:v:xix:y:2016:i:1:p:179-188
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