How Can Regional Economic Growth (REG) be Enhanced through Business Cluster Convergence in the Shannon Region?

This research study will aim to contribute to existing literature through the development of a unique framework(s) that captivates crucial regional economic development (RED) and business cluster models that improve regional... [ view full abstract ]

This research study will aim to contribute to existing literature through the development of a unique framework(s) that captivates crucial regional economic development (RED) and business cluster models that improve regional economic growth (REG) in the Shannon region in the Mid-West of Ireland (Edmond, 2015; Donovan, 2017). Arguably, it is important to examine models of RED (Cornett, 2009; Mazzarol, 2003) and business clusters (Porter, 2000; Ketels and Protsiv, 2013) to identify which combination works best to enable the fruition of effective regional economic growth that leads to further regional prosperity (Barrington Report, 1991). This study will aim to establish the true value of business cluster convergence (Delgado et al., 2010, 2011) to regions (Abdullah et al., 2015) and help to evaluate how or whether it is contributing to the enterprise landscape (positively or negatively). Alfred Marshall’s (1890) book on economics provided the early foundations of modern cluster theoretical approaches through incisively analysing the geographical clustering of economic activity and business firms. Conversely, one could argue that Michael Porter’s Diamond model (1990, 1998) remains the core model for cluster development and enhancement today. The contribution of this research study is to develop a model for business cluster convergence emergence to improve regional economic growth that highlights the specific components needed for REG to occur in similar regions to Shannon however, there is a general consensus that all regions have different resources but if this model is applied to the resources at hand, an opportunity may exist. Moreover, one of the prospective goals of this study is to conclude that the Irish economy, specifically the Shannon region can enhance its growth through the business cluster convergence approach.