Today when we talk about business “clusters,” we’re usually talking about the technology industry in Silicon Valley, the financial sector in London or New York, or automakers in southern Germany.
Bologna Shows How a Business Cluster Can Stay Vibrant for Centuries
Prosperity is the byproduct of education and advances in technology.
October 26, 2017
Summary.
When many people think about business clusters, they immediately jump to the tech industry in Silicon Valley, or New York’s financial hub. But the idea of a local, industry-specific cluster in fact goes back hundreds of years. In this piece, the author examines the centuries-old textiles cluster in Bologna, Italy. Drawing on this example, he argues that a successful cluster must first and foremost be an adaptable one. Just as Bologna’s silk manufacturers evolved from a pre-industrial production process to hydraulic-powered, automated machinery, so too must other clusters ensure they are focused on constant education and improvement — or risk becoming obsolete.