Importance of Clusters in the Business Co-operation Development

A cluster is a system of interconnected firms and institutions the whole of which is greater than the sum of the parts. Clustering is a recognised way to enhance productivity, innovation and competitive performance of companies.  Clusters can allow small companies to combine advantages with various benefits.  Hence, the clusters are important operators in a region’s economic growth.  Clustering has always been a part of history of the economic activity, but it has attracted increased attention during the past two decades.  Clustering has become a recognised way of co-operation and economical development between businesses.

Clusters are affecting economic growth. Competition of course continues, but being part of the cluster gives so many benefits rather than continuing business alone.  Within a cluster’s co-operation, one has access to specialized inputs and information on employees. For example benefits in lower-cost access to components, machinery, business services and personnel. Cluster sourcing provides information on outsourcing companies, information and complementarities. It is obvious that being part of cluster, company benefits.  However, one has to remember that the company receives benefits only if it is actively involved in the work. Time and resources affect to companies’ commitment. The more company invests, more it gets.

Pakistan Aerospace Council, a Unique Cluster Organization

Pakistan Aerospace Council (PAeC) is a not-for-profit constellation for enterprises active in the aerospace, defence and hi-tech mechanical/electronics market. PAeC is working for global promotion of high value addition and high technology manufacturers of Pakistan, while meeting the national needs for technology acquisition as well as export-led, sustainable growth of Pakistani Aerospace and hi-tech Industries.  For joining or knowing more about Pakistan Aerospace Council, please visit https://pakaero.com.pk/