Along with giving the history of how Silicon Valley came to exist and the key pl

Question

Along with giving the history of how Silicon Valley came to exist and the key players involved, like Frederick Terman who is often called “the father of Silicon Valley,” the author lists the “Critical Step in the Cluster Building Process.” The steps are as follow:

Core Industry

Potential Cluster Region

Potential Cluster Members

Conduct Supply Chain Analysis

Conduct a Social Network Analysis

Conduct SWOT Analysis

Select Cluster Strategy Team, Program Manager, Champion

Implement and Manage the cluster

In this article, the author states “in order to compete on a national and global level, the United States would have to become more and innovative economy rather than a service economy.”   It has been proven that clusters play an important role in a region's economy.

Critique”

I agree with the main conclusion in this article. I can see cluster’s in my area and the role they play in that region. One example that comes to mind is NASA when the space program was eliminated it affected a lot of the area leading to bankruptcy for quite a few businesses along with unemployment.

I don’t feel anything was left out, but I would have liked the role of government on the cluster to be expanded on in this article.

I found this information helpful and feel it can be used to either look for a region with a cluster in the field you are in or establishing a business in a cluster area that may be lacking what you have to offer.

Can you think of clusters in your area and how it has affected the region?

Explanation / Answer

Thank you for the question.

Well, we cannot deny the fact that Clusters play a very important role in innovation activity, which is connected with the approachable abilities of regions with respect to the modern technology used by businesses and that are characterized by a high level of technological development.

If I talk about the importance of clusters for competitiveness and innovation. It is concerned and connected with a variety of microeconomic benefits, among which the most important are as follows:-

- Easy access to the information on the market (e.g. the current or ongoing needs of the customers) and the latest and updated technological developments.

- Greater access to scarce resources and skills.

Related Questions

Navigate

• Browse (All)
• Browse A
• Subjects

Integrity-first tutoring: explanations and feedback only — we do not complete graded work. Learn more.