Abstract
Modernization of the Russian national economy depends on small businesses and their involvement in capitalization of the territorial potential. This article discusses methods, models, and mechanisms of territorial capitalization based on incorporation of small business enterprises into clusters along with medium- and large businesses. We propose an optimization model for assessing the efficiency of such clusters: our research has shown that this model can be applied for decision-making in regional strategic planning. Methodologically, this study relies on the theories of industrial development and economic growth, the industrial cluster theory, and the works of Russian and international researchers on mechanisms of management of territorial potential, their establishment and implementation. Capitalization of the region’s resource potential manifests itself in the form of static and dynamic effects. We developed models of interaction between small and other businesses and structures within a cluster oriented towards territorial capitalization. We demonstrated that incorporation of a university into a cluster structure increases the innovative capacity of all cluster members. This research may be further expanded to study the mechanisms of involving small businesses operating in peripheral areas into clusters.
Highlights
In the second decade of the twenty-first century, one of the major imperatives of the state economic management in Russia has become to stimulate and facilitate the country's transition to a non-resourcebased model of industrial development
We propose to assess the efficiency of small business incorporation into clusters by focusing on territorial capitalization
We believe that integration of businesses into clusters is as an innovative form of production, which will positively affect the territorial capitalization
Summary
In the second decade of the twenty-first century, one of the major imperatives of the state economic management in Russia has become to stimulate and facilitate the country's transition to a non-resourcebased model of industrial development. The country's predominantly resource-based economy and the influence of world prices on the domestic market can serve as major impediments to its sustainable growth in the future In these conditions the strategy of modernization of the Russian economy, in particular its real sector, should involve accelerated growth of manufacturing and processing industries. We fully support this opinion, it should be added that the most important role for capitalization of the territorial potential is played by those institutional mechanisms that facilitate efficient cooperation between local businesses operating within projects of innovative development We believe it is crucial, when considering the role of small business in territorial capitalization, that we should take a closer look at the management of this process. The focus of modern research has shifted from analysis of free competition to search for mechanisms for facilitation of inter-enterprise cooperation
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