Clusters in Business: A Review of Successful International Models, Factors and Characteristics

Abstract

Clusters are an important tool and a strategic choice used in the application of a horizontal policy to stimulate local economies and redefine the development model of a region or a country. The aim of the present review is to explore in depth the various models, analyses, characteristics, factors and properties of successful international clusters. Moreover, this article identifies the sources of competitive advantage, as well as factors and characteristics that determine the success of a collaborative innovation formation and provides insight into its evolution and development. The methodology used was literature review, research and criticism from both Greek and foreign literature. A broad sample of sixty (60) publications was selected as part of the survey. Subsequently, the selection of the sample was limited to thirty-six (36) publications that met specific criteria. After reviewing studies and research publications, each individual’s data were analyzed, processed and compared with each other. Finally, results and conclusions were drawn.

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