Cluster activity in Lithuania: challenges and search for opportunities
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Abstract
Purpose – to analyse and summarise the problems of innovative business cluster performance in Lithuania and provide suggestions on how to improve the situation and to identify the main sources of their activity risk
Methodology – general review of scientific literature that analyses the efficiency of clusters and factors that have a negative impact on their business; a case study.
Results – problems of cluster performance in Lithuania analysed and the main types of risk of cluster activity identified.
Research limitations – study limitations arise due to the lack of quantitative data and the confidentiality of insider information. For this reason, it is difficult to create adequate models of efficiency assessment.
Practical implications – the development of innovation industry in the public environment and the academic environment is based on the one-sided point of view as a progress indicator in Lithuania. However, there is too little debate on whether the cluster is a truly optimal form to create the conditions for the development of business innovations. Despite the fact that innovations are the main subject of venture capital funds financing, the risks related to innovation and clustering have also been insufficiently analysed. This article seeks to identify the risk characteristics and structure inherent in business clusters.
Value – the main problems of cluster activity in Lithuania, the main types of cluster activity risk and the problems of its assessment are identified.
Research type: literature review, general review.
Methodology – general review of scientific literature that analyses the efficiency of clusters and factors that have a negative impact on their business; a case study.
Results – problems of cluster performance in Lithuania analysed and the main types of risk of cluster activity identified.
Research limitations – study limitations arise due to the lack of quantitative data and the confidentiality of insider information. For this reason, it is difficult to create adequate models of efficiency assessment.
Practical implications – the development of innovation industry in the public environment and the academic environment is based on the one-sided point of view as a progress indicator in Lithuania. However, there is too little debate on whether the cluster is a truly optimal form to create the conditions for the development of business innovations. Despite the fact that innovations are the main subject of venture capital funds financing, the risks related to innovation and clustering have also been insufficiently analysed. This article seeks to identify the risk characteristics and structure inherent in business clusters.
Value – the main problems of cluster activity in Lithuania, the main types of cluster activity risk and the problems of its assessment are identified.
Research type: literature review, general review.
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