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HOW TO MANAGE THE SUSTAINABLE DEVELOPMENT OF AN INDUSTRIAL CLUSTER
Abstract
In the present-day context, economic growth based on the cluster-oriented approach is considered to be one the most rewarding and effective mechanisms to improve the competitive strength of the regions in the country, as well as stimulate the innovative activity within the advanced social and economic development areas. The industrial cluster sustainable development model would be impossible to be implemented without setting up a definite management mechanism and system. As such, this article outlines the framework of creation and stable functioning of industrial clusters within the advanced social and economic development areas. The study furthermore explains the methodological principles of how to conduct an analysis of cluster-based formations growth efficiency. The study has been carried out by the author through the example of the industrial petrochemical cluster that has been functioning within the Advanced Social and Economic Development Area “Nizhnekamsk” in the Republic of Tatarstan. The author defines the advantages, potential capabilities and development challenges, as well as determines the expected effects, whether economic, innovative, social, and environmental. At the back of the study, the author identifies a number of further key priority orientations towards economic growth and improvement of sustainability of the regional industrial cluster.
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References12
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