Question

define industrial cluster​

Answer 1

A business cluster is a geographic concentration of interconnected businesses, suppliers, and associated institutions in a particular field. Clusters are considered to increase the productivity with which companies can compete, nationally and globally. Accounting is a part of the business cluster.

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Answer 2

Industrial clusters are usually defined as the conglomeration or assemblage of various identical or similar firms or business organisations in a common geographical area or location.

Explanation:

• As stated above,industrial clusters denote the commercial conglomeration of various similar or identical firms or companies within a particular geographical area or location.
• The firms or companies included in the cluster often share similar economic conditions and characteristics such as similar market traits,common factors/inputs of production or productive resources,common suppliers or distributors of raw materials,similar human or labor resources,common consumer or client base,similar industrial traits among firms or companies and so on.
• A firm or any business organisation within the cluster can economically benefit from flow of valuable industrial information,raw materials and factors/inputs of production and sharing of business information and technological skills or knowledge among competitive firms and businesses.