REGIONAL DEVELOPMENT THROUGH CLUSTERS

Purpose – At the level of global market competition, the economic success of a region or country focuses on the specialization of supply, the development of key areas, offering competitive advantages, skills and qualified resources. From this perspective, clusters are the key to success, involving entrepreneurial dynamism, intense links between organizations and institutions with top-level knowledge.

Methodology/approach – Accentuating the phenomenon of globalization and increasing competitiveness in national, European and international markets, membership in a cluster becomes a real advantage for small and medium enterprises, providing easy access to production, innovative products, using advanced technologies, common development strategies.

Findings – The most important role of a cluster is to facilitate development, having as success factors: building trust between cluster members and creating a cluster development strategy, the geographical proximity of cluster members.

Research limitations/implications – The clusters support the transfer of know-how and technology transfer, cooperation between companies and institutions and the importance of strengthening the support environment.

Practical implications – The ability to innovate in the business environment is a key factor for increasing competitiveness and for smart and sustainable development. The innovation process contributes more and more to local-regional and national development.

Originality/value – Clusters are the pillars for smart, sustainable inclusion growth, facilitating and creating jobs, improving cooperation between business, research institutes, universities and other organizations based on increasing competitiveness, labor specialization, regional development.