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Diamond Industry Cluster - Wholesale Gemstone Jewelry & Semi-Precious Stones
FOR IMMEDIATE RELEASE
(Free-Press-Release.com) November 18, 2011 --
Through the1990s, the clustered locational basis of the majority of innovation systems received explicit attention producing the dominant view that innovation is closely associated with places in which relevant economic resources are most easily accessed by firms that are in close proximity to each other. The contemporary focus on clusters as objects of analysis owes much to Porter (1990) who emphasizes four local factors interrelated within a "diamond" of related and supporting industries, factor input conditions (including scientific and technological infrastructure), firm strategy and rivalry, and demand conditions. Porter is concerned with the dynamics of clusters thus his thinking is tied directly to ideas on regional innovation systems. His ideas have garnered substantial attention in policy circles3, and this is probably because the locational components of his diamond such as the presence of capable, locally based suppliers, and vigorous competition among local rivals are expressed in normative language. In many clusters, however, some of these local diamond conditions are weak suggesting a mismatch between observed relationships and the way Porter’s expectations are constructed. The need for “sophisticated and demanding local customers”, for example, is met much easier when a national or large regional definition is used for the cluster rather than the local scale. In this and other ways, Porter’s model strongly reflects a large economy perspective and may not be a good fit to metropolitan scale research in a small open economy such as that of Canada, which is dependent on its international trade. The term cluster, as used here, is a recognizable industrial strength of a particular urban region (whether one industry or a group of related activities). It is a form of industrial organization that relies on networks of highly specialized, inter-related private sector firms and public sector institutions whose final production reaches markets outside the metropolitan region (Egan, 2000).
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Where: New York,United States
Industry: Business Services
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