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Question
What are the important characteristics of successful industrial clusters?
Answer in Brief
Solution
The following are the chief characteristics of a successful cluster.
- Geographical proximity of Small and Medium Enterprises (SMEs)
- Sectoral specialisation
- Close inter-firm collaboration
- Inter–firm competition based on innovation
- A Socio-Cultural Identity which facilitates trust.
- Multi-skilled workforce
- Active self–help organisations and
- Supportive regional and municipal governments.
- Through Competition, they are forced to become more efficient.
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Industrial Clusters
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