An assessment of the economic value of clusters and their influence on companies in the Serbian transition economy

This is a study of clusters and their influence on companies and the environment in Serbia, with the aim of analysing information regarding companies, clusters and the process of cluster development in Serbia. Some of the most interesting features for Serbian companies were drawn out and presented in order to identify and analyse similar processes and externalities in future research about Serbian companies. In order to create a comprehensive study, both quantitative and qualitative research methods have been applied. In total, thirty-nine companies have been surveyed in five Serbian clusters, gaining useful answers regarding companies which joined the clusters and the expectations and aspirations of cooperation within each cluster. The research methodology was analysed in-depth and valuable conclusions have been drawn. Often, Serbian companies did not start cooperating through an awareness of the benefits that clusters can offer, but rather out of the need to overcome certain common legal and business problems. The majority of the companies within the clusters are micro and small companies, without research and development (R&D). This study showed that even clusters in Serbia do not have an R&D division, leading us to the conclusion that companies need to improve their internal knowledge management, support innovations and invest in new material and product development.