Economics, Econometrics and Finance
8 years ago

Cluster development approach revolutionizes SMEs, turning threats into opportunities.

Transforming Small and Medium Enterprises - The Cluster Development Approach
Sandeep Vij

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Small and Medium Enterprises (SMEs) are facing challenges due to changes in global markets. The cluster development approach suggests that SMEs can benefit from working together in groups, rather than alone. By forming clusters and collaborating with other stakeholders, SMEs can overcome common problems and thrive in the competitive market. This strategy is helping SMEs in India adapt to the changing business environment and succeed in the era of globalization.