Proceedings of the 5th Business & Management Conference, Rome

ON THE EVALUATION OF SYNERGY AND SYSTEMIC RISK IN INNOVATION CREATING BUSINESS CLUSTERS

MANTAS VALUZIS, LAURA GUDELYTE

Abstract:

It is necessary to be able to evaluate the synergistic effect, which is one of the key incentives for businesses to develop clusters and cooperate with each other in order to determine the efficiency of innovation creating business cluster. The synergistic effect of business clusters is one of the key factors supporting cooperation, boosting innovative operational efficiency. However, despite synergy is one of the main determinants of the business cluster establishment its evaluation is insufficiently investigated since the scientific literature has not yet offered a reliable method for determining the value of a business cluster synergy and influence the further development and commercialization of innovation in the business activities of the clusters. On the other hand, there are some fundamental prpblems to quantify the synergistic effects and to identify the factors that have a significant impact on the additional outcomes cluster activitiy. In the literature, there are many attempts to describe the synergistic effects and classify it, but this knowledge is still quite fragmented. This article aims to review the evaluation approaches of synergistic effect of business cluster activity and the structure of synergistic effect and the relationship between synergistic effect, complementarities and systemic risk in business cluster. This article identifies the major problems associated with cluster assessment modeling, and analyzed the possibilities to generalize the applicable models.

Keywords: business cluster, synergy, structure of synergy

DOI: 10.20472/BMC.2017.005.014

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