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Clusters – A Specific Form of Connecting Business Entities in Order to Improve the Market Position

Ivana Kostadinoviæ (), Ivana Iliæ () and Zorana Kostiæ ()
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Ivana Kostadinoviæ: Faculty of Economics, University of Niš, Niš, Serbia
Ivana Iliæ: Faculty of Economics, University of Niš, Niš, Serbia
Zorana Kostiæ: Faculty of Economics, University of Niš, Niš, Serbia

Hyperion Economic Journal, 2015, vol. 3, issue 3, 46-54

Abstract: Clusters represent the economic base, which promotes regional development. The formation of cluster organizations is the result of real needs for the satisfaction of economic interest of theirmembers.The purpose of this paper is to promote positive changes that result from the action of clusters. By studying the specifics of the process of connecting businesses, functioning, and development of clusters, we will set guidelines for improving the business efficiency of business entities. Undertaking the measures and actions to improve business efficiency can stimulate balanced regional development. The achieved results of the joint operations of agricultural entities may be of use to regional development policy-makers, cluster management, and cluster members, but also those businesses that are in a dilemma whether to operate independently or within clusters in order to improve their position on the market.

Keywords: clusters; regional development; business efficiency; the market; the agricultural sector (search for similar items in EconPapers)
JEL-codes: R58 Q10 R11 (search for similar items in EconPapers)
Date: 2015
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